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Textron says it partnered witha co-lender and other participants to provide the fundingt for construction of the Planet Hollywood Towers by Westgate in Las The 50-story time-share property is scheduled to open in fall 2009. It will be locatecd on the Las Vegas strip with direct access tothe Casino. The loan closing and initial whichoccurred Sept. 20, was the Textron's TXT) largest deal with Westgate sincd they started working togetherin 1991, and the largest transactionn in the history of its Resort Finance Division. In a statement, David CEO and president of Westgate Resorts, says he considersx Textron a business partner rather than just a Westgate was foundedin 1982.
It is the largesg privately held time-share company in the world. Westgats Resorts parent company, (CFI) was founded in 1970 as a real estatewdevelopment firm. CFI now operates insurance, magazine, real estate, travel serviceds and Internet companies.
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