Westgate Resorts Completes $207 Million Timeshare Loan Securitization

The 18th such deal for the hospitality company since 2012 saw strong investor demand across the capital stack.

Mar. 31, 2026 at 8:04pm

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An extreme close-up of intricate, heavy metal banking machinery and gears, dramatically lit to convey the complex financial mechanics behind Westgate Resorts' timeshare loan securitization.Westgate Resorts' latest timeshare loan securitization reflects the resilience and investor confidence in the company's hospitality platform.Today in Orlando

Westgate Resorts, the largest privately held timeshare and vacation experience company, announced it has completed a $207 million securitization of timeshare loans through its Westgate Resorts 2026-1 LLC subsidiary. The deal, Westgate's 18th such securitization since 2012, saw strong investor demand resulting in six new investors and solid subscription levels across the various note classes.

Why it matters

Timeshare securitizations are an important financing tool for major hospitality companies like Westgate to access capital markets and fund ongoing operations and growth. The successful completion of this latest deal highlights the continued resilience and investor confidence in Westgate's timeshare business model, even amid broader economic uncertainty.

The details

The securitization was rated by DBRS Morningstar and included the issuance of $80.4 million in AAA-rated Class A Notes, $63.3 million in A-rated Class B Notes, $44.7 million in BBB-rated Class C Notes, and $18.6 million in BB-rated Class D Notes. The overall weighted average yield rate was 5.626%, with Capital One Securities serving as Sole Structuring Advisor and Joint Bookrunning Manager, and Triumph Capital Markets as Joint Bookrunner.

  • The securitization was completed on March 31, 2026.

The players

Westgate Resorts

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

Westgate Resorts 2026-1 LLC

The subsidiary through which Westgate completed the $207 million timeshare loan securitization.

John Willman

Chief Financial Officer of Westgate Resorts.

DBRS Morningstar

The rating agency that provided ratings for the various note classes in the securitization.

Capital One Securities

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

Triumph Capital Markets

Served as Joint Bookrunner 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, Westgate Resorts

What’s next

Westgate Resorts will continue to monitor market conditions and evaluate opportunities for additional timeshare loan securitizations to support the company's ongoing growth and operations.

The takeaway

Westgate's successful $207 million timeshare loan securitization demonstrates the continued investor appetite for high-quality timeshare-backed assets, even in the face of broader economic uncertainty. This transaction reinforces Westgate's position as a leading player in the timeshare industry and its ability to access capital markets to fuel its expansion.