New timeshare units might be on their way in Steamboat Springs at Sheraton’s resort in Colorado. Starwood Hotels and Resorts, who owns Steamboat Sheraton, announced that the company is deciding whether to dedicate the new units at Steamboat to being timeshare villas.
In the same announcement, Starwood said they are also looking at turning five other properties into timeshares. The move to vacation ownership comes from the high revenues produced by Starwood’s other timeshare properties. If the trend continues, new timeshare resorts could prove to be very lucrative for the company.
The timeshare resorts are ran by Starwood Vacation Ownership, which already manages 22 timeshare hotels internationally. In 2014, Starwood Vacation Ownership made $640 million in revenue. That number has enticed Starwood to look at expanding their timeshare reach.
Steamboat Sheraton seems like a great place to start. Steamboat Springs is already a popular tourist town, well built for timeshare owners. Since Starwood’s acquisition of the property in 2007, they have already expanded the two- and three-bedroom villas, and put another $16 million into resort renovations in 2013, presumably preparing to expand the resort’s timeshare offerings.
Currently, Steamboat Sheraton contains 287 units, including 22 condominiums and 21 timeshare units. Word on how many new units will be at the resort has yet to be revealed.
Starwood Hotels is serious about expanding their timeshare options. They have recently built new units at their Mexico and Kauai, Hawaii resorts, and have discussed building new resorts across the country, but nothing official has been released yet.
The evolution of luxury resorts into timeshare villas is a trend that has become more and more prevalent across the country as demand for vacation ownership properties grow. Although not all timeshare resorts are created equal, a smart timeshare resale purchase can be a long-term investment as desire for timeshare properties grows.
This is exciting news for the timeshare industry. We will follow Steamboat Sheraton closely, as well as other Starwood resorts for new updates on their timeshare exploits.