Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity NewsletterInvestment in Bahamas luxury real estate development sets the stage for future growth in the CaribbeanInvestors include Gissy Family Investments and other partners

ORLANDO, Fla., Oct. 13, 2025 (GLOBE NEWSWIRE) -- Westgate Resorts today unveiled its partnership in a major multimillion dollar investment in the luxury Banyan Tree Bimini Resort & Residences development on Rockwell Island in Bimini, Bahamas.

Westgate Resorts, Gissy Family Investments and other partner investors have entered into a relationship with RAV Bahamas, created by Gerardo Capo, which built the $850 million Bimini Bay project at Rockwell Island. The development offers homes with ocean views in the front and room for 80- to 120-foot docks in back on the bay. Rockwell Island will include an 18-hole golf course with even-larger homes, a boutique hotel and a nature preserve.

"This new strategic investment marks an exciting milestone for Westgate as we expand our capabilities as a company," said Jim Gissy, Chief Executive Officer at Westgate Resorts and the Chair of Gissy Family Investments. "Our investment in the Banyan Tree Bimini Resort & Residences reflects our confidence in the long-term growth of the Bahamas, our deep friendship with Gerardo Capo and his family, and our commitment to creating exceptional travel experiences. We see this as the first step in unlocking new opportunities in one of the world's most desirable destinations."

Westgate's investment marks its first venture in the Bahamas, establishing a new partnership that opens the door to future growth opportunities through its strategic investment group and reflects the company's ongoing expansion beyond its traditional focus on timeshare and resort development. The investment also sets the stage for future opportunities in the Caribbean market for Westgate Resorts.

"As we look to expand Westgate, we are excited by the opportunities we see within vacation ownership, but also in those businesses that complement it - hotel development, real estate, and strategic investment partnerships," added Jared Saft, Westgate's Chief Business & Strategy Officer. "Westgate continues to forge ahead with groundbreaking initiatives and partnerships across the leisure travel industry."

This is the latest in a series of announcements by Westgate Resorts showcasing the company's growth. This year, the company announced a partnership with Choice Hotels®, created a new timeshare brand - VI Resorts by Westgate -- following the company's 44 destination international expansion, opened River Country Water Park at Westgate River Ranch Resort & Rodeo, and launched a partnership with Chuck E. Cheese for the new Mystery Fun House Arcade Experience.

About Westgate Resorts

Westgate Resorts is a diversified hospitality company headquartered in Orlando, Fla., featuring the largest privately held timeshare resort club in the world and a portfolio of more than 60 resort properties. The company offers spacious villa accommodations, world-class amenities, and family-friendly destinations in sought-after locations such as Orlando, Las Vegas, Gatlinburg, Park City, and Myrtle Beach. In 2025, the company expanded its footprint with the addition of VI Resorts by Westgate, enhancing its presence in the Pacific Northwest, Hawaii, Canada, and Mexico. Since its founding in 1982, Westgate has focused on creating memorable vacations and delivering exceptional service, while maintaining a commitment to innovation, hospitality, and community engagement. Whether guests are seeking relaxation, adventure, or a combination of both, the company's 9,000 Team Members provide personalized and value-driven getaways tailored to every traveler's needs. Connect with Westgate Resorts on social media through LinkedIn, Instagram or Facebook and learn more at WestgateResorts.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6a5201bd-9782-4458-a3dd-f4b0a168534d

Media Contact Steven Goldsmith media@westgateresorts.com

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Westgate Resorts and its Partners Make Strategic Hospitality Investment in the Caribbean