WDBO Local News

Central Florida Time-share mogul to unload $350M in assets

By
WDBO Staff
@ March 18, 2010 10:45 AM Permalink | Comments (1) | TrackBacks (0)
Amid the nation's continuing real-estate slump, Orlando's time-share king is attempting to sell $350 million worth of real-estate and noncore assets, including thousands of acres of undeveloped land in Central Florida.

The Orlando Sentinel reports that David Siegel, president and chief executive officer of Westgate Resorts, has listed a portfolio of properties with Carlton Advisory Services Inc., an international real-estate investment-banking firm. A total of 60 assets are up for sale, from hotels to mobile homes to airplanes.

"We're selling our non-time-share assets to raise cash for our time-share operations," Siegel said Wednesday. "We're selling anything that we don't currently need for our time-share [business]." See Story Here

The real estate includes a dude ranch and the once-famous Grenelefe Resort, both in Polk County, as well as land that already has government approvals for time-share construction. Carlton Advisory Services said all reasonable bids will be considered.

Categories:

Tags:

Main Index | Archives | RSS feed

0 TrackBacks

Listed below are links to blogs that reference this entry: Central Florida Time-share mogul to unload $350M in assets.

TrackBack URL for this entry: http://wdbo.com/blogging/mt-tb.cgi/66203

Avg. rating: N/A

What others are saying

  • Rip Off
    Time share business is a big rip off to owners. It is no different than buying a car, they both depreciate and the owner loses money on both.
    By BOB @ 03/18/10 02:20:57 PMreport abuse
send to a friend  view as printer-friendly  get widgets  RSS feeds
advertisement
Partly Cloudy

Orlando weather

Partly Cloudy
90°F
5-day forecast | Hurricane Guide
View the WDBO weather radar
advertisement

Marketplace

Stop the Radio Tax
Help us defeat a proposed tax that could kill local radio as we know it! Take Action Now!
Nutrition & Health Center
Listen to Dr. Susan’s weekly podcast! Visit the Nutrition and Health Center for the hottest topics in the world of nutrition, recipes, her blog and more!
It's YOUR Home
Learn how to create your ideal living space. After all... It's YOUR Home!
powered by Kudzu From fast food to fine dining, find it all in our Local Business Directory .
powered by AutoTrader.com Shop for cars, find a dealer, and get the latest automotive news in our Local Car Buying Guide powered by AutoTrader.com
advertisement
Travel
Need to get away or planning a vacation? Let us, and our partners at Travel Channel, help. Click here to find out more.
Stay ahead of the storm. Find evacuation routes, safety tips and more in the Hurricane Guide.
Ask the Experts
Get information and professional advice in many categories, from health to home improvement! Ask the Experts!
Go Green Orlando
AM580 WDBO encourages you to help the environment and Go Green! Use our tips!
Don't miss your favorite TV shows! Click to get the latest WFTV Channel 9 programming schedule.
WDBO.com
Listen Live to Central Florida's Breaking News, Severe Weather and Traffic Online, AM580 WDBO. www.wdbo.com