David Siegel, founder and CEO of Westgate Resorts, the largest privately owned timeshare company in the nation and employer to 12,000 people nationwide, announced today a company-wide increase in minimum pay for its team members to $10 per hour, effective Jan. 1, 2015. 

All employees currently earning less than $10 per hour will receive a pay increase to the new level, with the exception of commissioned and tipped employees or employees covered by a collective bargaining agreement. In addition, all future team members outside of these exceptions will have a minimum starting pay of $10 per hour.

Although there are no Westgate team members paid at the federal minimum wage (other than commissioned or tipped employees), Westgate is implementing this wage increase to attract the very best talent in the hospitality industry and to provide a high quality of life for all of its employees. 

In addition to the minimum pay increase, Westgate also announced the company is implementing its fourth consecutive merit increase for all eligible team members, a sign of the financial strength of the company.  Earlier this year, the company implemented a more generous 401(k) matching program, featuring a full 100-percent, dollar-for-dollar employer match of a team member's first four-percent contribution. Team members are eligible for this program after only 90 days of employment.

"We're experiencing the best year in our history and I wanted to do something to show my gratitude for the employees who make that possible," said Siegel. "The Westgate family includes some of the most talented professionals in the industry and it's important that we reward our current employees and continue to attract the best and the brightest in the future."

Westgate Resorts added more than 4,000 team members across the country in the past year. In addition to these new initiatives, Westgate offers programs that help employees in times of need, an extensive leadership development program, and a variety of community initiatives to both support team members and help the local community.