Westgate Resorts Completes $207 Million Timeshare Loan Securitization

The 18th such transaction since 2012 saw strong investor demand and competitive pricing.

Mar. 31, 2026 at 5:04pm

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An extreme close-up of intricate, metallic banking machinery and equipment, conceptually representing the secure financial infrastructure behind Westgate Resorts' timeshare loan securitization.Westgate Resorts' latest timeshare loan securitization taps into the resilience of the company's financing platform and the ongoing investor appetite for hospitality-backed financial products.Today in Orlando

Westgate Resorts, the largest privately held timeshare company, announced the completion of a $207 million securitization of its timeshare loans through the issuance of collateralized notes to 15 different investors. The transaction achieved a 90.28% advance rate and an overall weighted average yield of 5.626%.

Why it matters

Timeshare securitizations allow companies like Westgate to access capital markets and unlock liquidity from their loan portfolios, which can then be reinvested into expanding their resort footprint and enhancing the guest experience. The strong investor demand and pricing for this deal reflects the resilience of Westgate's platform and disciplined financing strategy.

The details

Westgate Resorts 2026-1 LLC issued $207 million in timeshare collateralized notes, including $80.4 million of AAA rated Class A Notes, $63.3 million of A rated Class B Notes, $44.7 million of BBB rated Class C Notes, and $18.6 million of BB rated Class D Notes. Capital One Securities and Triumph Capital Markets served as the bookrunning managers.

  • Westgate Resorts completed the securitization on March 31, 2026.

The players

Westgate Resorts

The largest privately held timeshare and vacation experience company, headquartered in Orlando, Florida.

John Willman

Chief Financial Officer of Westgate Resorts.

Capital One Securities

Served as Sole Structuring Advisor and Joint Bookrunning Manager for the securitization.

Triumph Capital Markets

Served as Joint Bookrunning Manager for the securitization.

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What they’re saying

“We are very pleased with the results of this securitization, particularly given the current market backdrop. The strong investor demand resulted in six new investors and solid subscription levels across the capital stack, with nearly $1 billion in orders. The competitive pricing underscores the resilience of our platform and the discipline of our financing strategy.”

— John Willman, Chief Financial Officer of Westgate Resorts

The takeaway

This securitization demonstrates Westgate Resorts' ability to access capital markets and unlock liquidity from its timeshare loan portfolio, which can be reinvested to drive growth and enhance the guest experience at its resorts across the United States.