Disney to Build New Vacation Ownership Destinations in Florida
- Sep 23, 2008
Disney Vacation Club, the Walt Disney Co.’s vacation ownership program, has revealed plans for two new resort developments at Disney’s Contemporary Resort and Disney’s Saratoga Springs Resort & Spa in Lake Buena Vista, Fla. The two projects will add 355 units to the club’s vacation ownership offerings.The new 15-story Bay Lake Tower will sprout up at Disney’s Contemporary Resort, offering a total of 265 units. Sited a short walk from the Magic Kingdom Park, the building will be connected via a covered sky bridge to the existing resort, which provides access to the monorail station. Treehouse Villas at Disney’s Saratoga Springs will encompass 60 residences on pedestals in natural forest glens near the Downtown Disney area. Construction of Bay Lake Tower and Treehouse Villas is on schedule to reach completion in fall 2009 and summer 2009, respectively.Sales at vacation ownership properties–or fractional ownership or timeshare properties–inclined steadily from 1997 through 2007, according to a study by Ernst & Young L.L.P. Sales increased 6 percent from 2006 to $10.6 billion in 2007. Together, Florida, California and South Carolina are home to 39 percent of the country’s timeshare resorts, with Florida topping the list with 23 percent of the properties. Additionally, the Sunshine State has the largest resorts and the greatest sales volume. Disney Vacation Club is owned by Celebration, Fla.-based Disney Vacation Development Inc., which is part of the Walt Disney Co. The Vacation Club has eight resorts, including Disney’s Old Key West Resort Disney’s BoardWalk Villas; The Villas at Disney’s Wilderness Lodge; Disney Beach Club Villas; Disney’s Saratoga Springs Resort & Spa, Disney’s Animal Kingdom Villas; Disney’s Vero Beach Resort, Disney’s Hilton Head Island Resort.