|
|
|
|
| The Year 2007 | ||
2007
Disney starts demolition of the 3-story garden wing building north of the main A-frame building
January 2007
The Contemporary Resort’s North Garden Wing was demolished between January 31 and April 6, 2007. This was to become the site for Bay Lake Tower.
Animal Kingdom Villas (Jambo) opens and becomes the 8th DVC resort
July 2, 2007
Disney offers 15-year extension of Old Key West
August 17, 2007 | Letter to Cast Members
As we continue to celebrate “15 Years of Making Vacation Dreams Come True,” I’m pleased to announce an exciting opportunity for Members who call our original resort “home” to add 15 more magical years to their Membership.
In an historic move for our company, we’re preparing to provide Members at Disney’s Old Key West Resort the chance to extend their Disney Vacation Club Membership through January 2057. We’ll hold a special meeting of the Disney Vacation Club Condominium Association on September 24 to vote to extend the resort’s ground lease accordingly and, pending the outcome of that vote, we’ll formally present Members with this opportunity to extend their Membership term, or to decline by deeding their extension to Disney Vacation Development.
We anticipate that a significant number of our Members will take advantage of this unprecedented opportunity, as our Annual Condominium Survey clearly revealed their interest in doing so. As you know, Disney’s Old Key West Resort holds a special place in Members’ hearts, and we look forward to sharing this unique opportunity with our original Member family.
By extending the magic of Membership at our flagship resort, we’ll help families create new memories and pass on the legacy of Disney vacations to their loved ones for years to come. Your leadership team will be providing you with more details on this unique opportunity in coming days. Here’s to “15 More Years of Making Vacation Dreams Come True!”
Notice of 2007 Special Meeting of the Board of Directors and Members of Disney Vacation Club Condominium Association
RESOLVED: That the Association is hereby authorized to enter into an agreement with DVD in which DVD will agree to extend the Ground Lease until January 31, 2057, thereby extending the Disney Vacation Club Condominium, the Vacation Ownership Plan and each Member’s Ownership Interest in the Disney Vacation Club Condominium, an additional 15 years to January 31, 2057, in exchange for the payment by the Association to DVD of $25.00 per vacation point (the “Extension Fee”);
FURTHER RESOLVED: That the Association is hereby authorized to, and shall levy and assess, against each Member of the Association a special assessment in the amount of $25.00 per Vacation Point for payment of the Extension Fee. The special assessment and collection of this assessment shall be governed in all respects by the Association’s process for collection of annual assessments. The special assessment shall be a personal obligation of each Member and the Association shall have a lien on each Member’s Ownership Interest to secure payment of the special assessment. The Association shall promptly mail special assessment notices to each Member and the special assessments shall be due and payable on or before February 29, 2008;
FURTHER RESOLVED: That for those members of the Association who desire not to extend their Ownership Interest beyond January 31, 2042, they may satisfy their obligation to pay the special assessment by executing a deed (with the formalities required by Florida law) conveying to DVD their Ownership Interest for the period January 31, 2042, to January 31, 2057.
CONTRACT EXTENSION APPROVED AT SEPT 24, 2007 SPECIAL MEETING
– All Old Key West DVC owners will receive a letter of offer to extend the ground lease of their vacation ownership from ending 1/31/2042 to ending 1/31/2057. Meaning that the property OKW sits on will be leased from the Walt Disney World Company for an additional 15 years.
– The price will be $25 per point to extend current contracts for 15 years. However if you accept the extension before 2/29/2008 Disney Vacation Development will pay $10 of that $25. Making the final cost to the owner $15 per point of you act before 2/29/2008. If you act after that the price will be $25 per point.
– There is no cost to the owner at all if they choose not to do this. All that happens is they will assign their vacation ownership back to DVC for the period of 2042 – 2057.
– This can be done per contract with DVC – so if you are like me and own multiple contracts you can choose to do one or both of your contracts. But each contract must be done for the full value of the points.
– This only being offered at OKW for now.
– No effect on current annual dues.
– There will be no closing costs associated with the extension.
– Since DVC recognizes that there will be cost and time involved (paperwork will have to be notarized) even if you don’t accept the offer they are going to credit every owner $30 on their December 2007 dues to cover the costs.
– It can be financed with DVC – current terms = 10.75% for 10 years. It can also be financed on your own, or paid in full or charged to a major credit card.
– Price of OKW points purchased through DVC prior to the resolutions being passed was $92 per point and ending in 2042. After the resolution passed OKW points are now $96 each and will end in 2057.
DVC announces Villas at the Grand Californian at Disneyland
First West Coast Disney vacation villas planned
ANAHEIM, Calif., Sept 18, 2007 – Responding to a growing demand for guest accommodations in Anaheim, the Disneyland Resort today celebrated an expansion of Disney’s Grand Californian Hotel & Spa that will increase accommodations by more than 30 percent and will include the first Disney Vacation Club villas in Anaheim.
This expansion, scheduled for completion in late 2009, will involve 300 union construction jobs and result in 100 new hotel jobs. It underscores Disney’s long-term commitment to growing and investing in Anaheim. The expansion also marks the latest in a series of major additions to the Resort that include the newly launched Finding Nemo Submarine Voyage at Disneyland and The Twilight Zone Tower of Terror at Disney’s California Adventure.
“This expansion underscores our commitment to growing and investing in both the Disneyland Resort and the Anaheim Resort Area,” said Ed Grier, president of the Disneyland Resort. “These new hotel rooms and villas will give more people the opportunity to enjoy the immersive vacation experience Disney is known for. We know that our guests value being able to stay in the middle of the magic with our world-class theme parks, shopping and dining just steps away.”
The 2.5-acre expansion on the hotel’s south side will add more than 200 new hotel rooms and 50 two-bedroom equivalent vacation villas. Those vacation villas, to include kitchens, living and dining areas and other home-like amenities, will mark the West Coast debut of Disney Vacation Club, Disney’s innovative vacation-ownership program.
“For more than 50 years, the Disneyland Resort has been investing in our community and they have helped us build a world class resort destination in which all of Anaheim can be proud,” Anaheim Mayor Curt Pringle said. “Thanks to Disneyland and the Anaheim Resort Area, Anaheim boasts one of the fastest growing markets in the country for hotel occupancy.”
Other elements planned for the project include a rooftop deck for viewing fireworks, a new swimming pool and about 300 underground parking spaces. Peter Dominick of 4240, architect for Disney’s Grand Californian Hotel & Spa as well as Disney’s Wilderness Lodge and Disney’s Animal Kingdom Lodge at the Walt Disney World Resort in Florida is designing the ambitious expansion. It will reflect the same California Arts & Crafts architecture of the existing hotel, which immerses guests in a turn-of-the-20th-century California experience.
Disney’s Grand Californian Hotel & Spa currently features 745 guest rooms, including 44 suites. Upon completion of the expansion project, the hotel will feature 945 guest rooms, including 44 guest suites, and 50 Disney Vacation Club two-bedroom equivalent vacation villas.
DVC announces Hawaiian resort at Ko Olina on Oahu
Hawaii DVC Planned
Oct 3, 2007
Walt Disney Parks & Resorts (NYSE: DIS) announced today that the company has finalized plans to purchase 21 acres of oceanfront property on Hawaii’s island of Oahu.
The property, located on the island’s western side in the picturesque Ko Olina Resort & Marina, Honolulu’s premier resort destination, will be home to Disney’s first mixed-use family resort outside of its theme park developments. The expansive resort, scheduled to open in 2011, will have more than 800 units including hotel rooms and villas for Disney Vacation Club, which is Disney’s rapidly growing timeshare business.
“This resort hotel will give our guests another way to visit an exciting part of the world with a brand they trust,” said Jay Rasulo, Chairman of Walt Disney Parks & Resorts. “In fact, Hawaii has been among our most requested Disney Vacation Club getaway locations beyond our theme parks. We are looking forward to building a special family resort that honors the cultural diversity of Hawaii and reflects the spirit of aloha that makes this location so unique.”
Consistently ranked as one of the top family destinations in the world, Hawaii’s natural beauty and extensive offering of family activities make it an ideal location for a Disney resort. Part of the Disney resort hotel in Ko Olina will be dedicated to Disney Vacation Club, a timeshare program that helps families enjoy flexibility and savings on vacations for decades to come. By becoming a member of Disney Vacation Club, families can enjoy vacations at Disney destinations worldwide as well as more than 500 other popular Member Getaways vacation locations around the globe.
Disney Vacation Club has grown to serve more than 350,000 individual members from more than 100 countries and all 50 U.S. states. “We are delighted to create a place in Hawaii that our Disney Vacation Club members can call home,” said Jim Lewis, President of Disney Vacation Club. “We know that both our existing members and new members will be thrilled about this resort in Ko Olina.”
Aloha, Disney
Mickey’s company announces plans to build an 800-unit resort hotel at Ko Olina
Oct 4, 2007 | Walt Disney Parks and Resorts announced yesterday that it has purchased 21 acres of oceanfront property at Ko Olina Resort & Marina to develop the company’s first stand-alone hotel.
Disney paid $144 million to acquire a plot near Ko Olina’s Lagoon 1, where it plans to develop an expansive resort that will open in 2011, creating more than 1,000 jobs. The mixed-use resort will have more than 800 units, including hotel rooms and villas for the Disney Vacation Club, which is Disney’s time-share brand. Total development costs are still undetermined.
“This resort hotel will give our guests another way to visit an exciting part of the world, with a brand that they trust,” said Jay Rasulo, chairman of Walt Disney Parks and Resorts. Hawaii has been among the Disney Vacation Club’s most requested getaway locations beyond theme parks, he said. Beach vacations are the No. 1 most popular trips for families, and Hawaii is the second most popular destination after Florida.
Hawaii’s natural beauty and family activities make it an ideal location for a Disney resort, Rasulo said.
Vacation Magic becomes Disney Files
November 2007 | Vacation Magic, the publication for DVC members since 1992, is renamed to Disney FILES starting with the Winter 2007 edition (Vol 16 No 4).
Disney files plans for Treehouse Villas Rehab
November 2007
Disney files plans for Kingdom Tower next to the Contemporary resort
November 2007
|
|
|
|
| The Year 2007 | ||