SAN DIEGO, CA (August 28, 2015) — Welk Resorts today announced its 2014 revenue across all five resorts at an impressive $147 million with a projected $190 million for 2015. An increase in the number of new owners during Q1 and Q2 2015 has contributed to the company’s substantial growth, with approximately 6,800* new owners in 2014 and approximately 4,700* new owners already in the first half of 2015.
“With obvious growth since this time last year, we’re on track to have a stellar 2015,” said President and Chief Executive Officer, Jon Fredricks. “Our sales team has done a fantastic job of bringing in a large number of new owners at a time when timeshares have become more competitive, with new companies entering the market and fewer travelers looking to buy.”
Welk Resorts contributes its success not only to having superior resorts at some of the top vacation destinations in the U.S. and Mexico, but also to being a family-owned company that prides itself on friendly service.
“We are focused on our team and provide high-level training, mentoring, and coaching to build a culture that will allow us to increase retention and create a more satisfying and joyful work environment,” said Fredricks.
The company has developed and/or operated more than 1,100 luxury vacation units, villas and hotel rooms since its inception in 1984, and continues to grow by expanding current properties as well as constructing new ones in high-demand locations.
Recent developments include:
Welk Resorts San Diego
- Completed development of three new buildings in Mountain Villas phase, adding 60 additional keys and introducing first three-bedroom product. In addition, Welk is building a multi-million dollar fitness center expansion, sport court upgrade, and Downtown Village refurbishment including hardscape and landscaping. Food and beverage kiosks are also in construction in Mountain and Boulder Springs pool areas.
Sirena del Mar by Welk Resorts, Cabo San Lucas
- Added third building, providing 40 additional keys
- Expanded existing pool area and created a stunning new indoor restaurant, Estrella, in 2015
Northstar Lodge by Welk Resorts, Lake Tahoe
- Began construction on second building (expected October 2015), adding 35 keys and new 12,000-square-foot sales center for Welk Resort Group
- Plans to break ground on a third building this year, providing 32 keys and a five bedroom lock-off option for owners and guests
Welk Resorts Branson, Missouri
- Broke ground on a planned expansion, including a three-bedroom product
Welk Resorts Breckenridge
- Will include 123 luxurious villas on 6.5 acres of wilderness on the Blue River in addition to owner’s lounge, state-of-the-art fitness center, game room, media room, indoor and outdoor pool, spa, fire pits, and barbeque areas
- Construction set to begin in 2016, opening in 2017
Welk Resorts Kauai
- Six plantation-style buildings with 164 luxurious villas are planned for 21.45 acres of raw land in this Hawaiian destination, along with an open-air lobby, private movie theater, game room, state-of-the-art fitness center, spas, and a white sand beach pool with water slides, lush tropical foliage and lava rock formations
- Construction set to begin in late 2018, opening in 2020
The decision to expand into Hawaii was a strategic one, as the location is the most sought-after timeshare destination, according to the America Resort Development Association**. At $1 billion in sales annually and the highest occupancy in the industry at 85.2 percent, Kauai was a logical choice for their largest new property.
“About 70 percent of our timeshare owners reside in California, which makes Hawaii a sought-after destination,” said President of Sales and Marketing at Welk Resorts, Michael Gehrig. “It will be wonderful for our owners to be able to exchange within our quality Welk family of resorts.”
“Business is booming at Welk Resorts, our timeshare sales were up 40 percent in 2014. We are up another 30 percent in 2015 and our guest and owner service and net promoter scores are the highest in the company’s history,” Fredricks said.
*Net including forfeitures and buybacks.
About Welk Resorts
Welk Resorts is comprised of five gorgeous destination resorts for vacations, retreats and family gatherings in Cabo San Lucas, Lake Tahoe, San Diego, Palm Springs and Branson with developments in Breckenridge (opening in 2017) and Kauai (opening in 2020). Part of the Interval International (II) family of timeshare properties, Welk Resorts delivers impeccable quality and variety whether travelers are booking a timeshare or hotel rental. For more information call 760-749-3000 or visit: www.welkresorts.com
PRESS RELEASE SOURCE: Welk Resorts
Murphy O’Brien Public Relations
Lisa Goldstein, 310-453-2539