The Disney Vacation Club (DVC) is a vacation timeshare program owned and operated by Disney Vacation Development, Inc., a subsidiary of Disney Signature Experiences, a division of Disney Experiences, a segment of The Walt Disney Company. It allows buying a real estate interest in a DVC resort via a flexible points-based membership system. There are an estimated 220,000 club members.[3]
 | |
| Disney Vacation Club | |
| Company type | Subsidiary |
| Industry | Hospitality, tourism |
| Founded | December 20, 1991 (in Bay Lake, Florida) |
| Headquarters | |
Key people | |
| Products | Timeshare |
| Owner | The Walt Disney Company |
| Parent | Disney Signature Experiences |
| Website | Official website  |
History
editThe first Disney Vacation Club property, known as the Disney Vacation Club Resort (later renamed Disney's Old Key West Resort in January 1996), opened on December 20, 1991 at Walt Disney World.[4] In 1991, Disney had registered its time share plan with the state of Hawaii but did not establish an escrow agreement with Hawaii at the time of its creation. This allowed Disney to advertise its time share company in the state but did not allow for sales.[5] On January 17, 1992, Disney Vacation Club was incorporated as Disney Vacation Development, Inc.[6]
On March 30, 1993 Disney Vacation Development Inc announced plans for a 440-unit time-share resort 95 miles (153 km) south-east of Walt Disney World in Florida[7] with ground breaking on July 28, 1994. This resort hotel, today known as Disney's Vero Beach Resort, opened on October 1, 1995, as the Vacation Club Resort at Vero Beach, Florida.[8] Disney would then open Disney's Hilton Head Island Resort just five months later on March 1, 1996 in Hilton Head Island, South Carolina.[9]
Disney's Animal Kingdom Villas opened its first phase in 2007 at $17,000 for a membership. By September 17, 2008, Disney Vacation Development had two new time share properties being built, Bay Lake Tower and Treehouse Villas in Orlando at existing Disney park hotels and both were to open in 2009. Bay Tower was expect for its timeshares to open at $18,000.[10]
On October 3, 2007, Disney announced it would open its latest Disney Vacation Club resort on 21 acres it had purchased in Ko Olina Resort, Honolulu/Oahu, with building slated to begin in 2008 with completion in 2011. The resort would offer both DVC units as well as standard hotel rooms for guests of the resort. With the announcement, DVC filed its remaining paperwork to allow its timeshare units to be sold in Hawaii. Three top executives were fired for selling 460 Ko Olina timeshare units for what were deemed unprofitable prices. The Hawaii resort opened as Aulani on August 28, 2011.[11]
In early 2011 it was reported that Disney had purchased land near National Harbor, Maryland, a suburb of Washington, D.C., to potentially build a resort similar to the three Disney Vacation Club resorts not located at Walt Disney World. In late November 2011, however, Disney announced that it had canceled plans to build a 500-room resort hotel at National Harbor.[12]
In 2011, the company announced that it would no longer allow secondary market DVC points purchasers to use their points on Disney Cruise Line, Adventures by Disney or the Concierge Collection luxury hotel group. In April 2016, Disney Vacation Development also ended the extension of Membership Extras benefits to those who purchase DVC contracts through secondary markets.[13] Disney was one of the last major timeshare companies to eliminate these benefits according to the American Resort Development Association.[14] In 2019, DVC announced further restrictions on resale purchases. On resale purchases made after January 18, 2019, DVC resale contracts purchased for the original 14 resorts at Walt Disney World, Disneyland, and 3 stand-alone locations will only be able to use their points at those 14 existing resorts and not at the upcoming Riviera and Reflections resorts. Additionally, resale buyers at Riviera will only be allowed to use their points at the Riviera resort.[15]
Starting in mid-2015, DVC began using a nonjudicial foreclosure process forcing auction bidders to be present instead of allowing online bid submissions with the Orange County Clerk of Court's office.[16] In May 2016 DVC approved Vacatia for DVC resales. This would be in addition to such sales through Fidelity Resales. In May 2016, DVC announced that its new property at Disney's Wilderness Lodge would be called Copper Creek Villas & Cabins.[17]
A brisk aftermarket with a perceived high resale value exists for the Disney timeshare memberships. In May 2016, Sharket time-share market research company issued a 2015 resale value list (having a score based on resale volume and prices) which saw memberships in Disney Vacation Club locations crowded out the competitors. Saratoga Springs, Bay Lake Tower at the Contemporary and Animal Kingdom Villas were the company's timeshares near the top of the list.[14]
In November 2019, plans for a 12-story club tower attached to the Disneyland Hotel were filed.[3] The tower opened on September 28, 2023.[18]
In 2022 plans to expand the Villas at Disney's Grand Floridian were announced.[19] In 2022, plans to construct a new tower at Disney's Polynesian Village Resort were announced.[20][21] On May 10, 2024, it was announced that the name of the new tower would be Island Tower at Disney's Polynesian Village Resort, which will open on December 17, 2024.
Membership
editTo be a DVC member, one must purchase a one-time real estate interest in one of the Disney Vacation Club Resorts, and thereafter pay annual dues. All memberships are sold as either a ground lease or a term-for-years. Their timeshare may not be sold in Nebraska.[5] Disney includes a right of first refusal clause in their membership contracts and uses a nonjudicial foreclosure process. The company has only two approved resale companies, Fidelity Resales and Vacatia.[14] Disney also provides time-share loans for the purchaser.[16]
Locations
edit
  Aulani Locations of Disney timeshares |
 Hilton Head Resort Vero Beach Walt Disney World Disneyland Resort Locations of Disney timeshares |
| Property | Co-located | Location | Units | Opened | Source |
|---|---|---|---|---|---|
| The Villas at Disney's Grand Californian Hotel | Grand Californian Hotel | Disneyland Resort | 71 | September 23, 2009 | [10] |
| The Villas at Disneyland Hotel | Disneyland Hotel | 340 | September 28, 2023 | [18] | |
| Bay Lake Tower | Contemporary Resort | Walt Disney World Resort | 300 | August 4, 2009 | [10] |
| Animal Kingdom Villas | Animal Kingdom Lodge | 708 | July 2007 | [22] | |
| Beach Club Villas | Beach Club Resort | 282 | July 1, 2002 | ||
| BoardWalk Villas | BoardWalk Resort | 530 | July 1, 1996 | [23] | |
| Polynesian Villas & Bungalows | Polynesian Village Resort | 380 | April 1, 2015 | [24] | |
| Island Tower | 360 | December 17, 2024 | [20] | ||
| The Villas at Disney's Grand Floridian Resort & Spa | Grand Floridian Resort & Spa | 147 | October 23, 2013 | ||
| Boulder Ridge Villas | Wilderness Lodge | 181 | January 2001 | [22][25] | |
| Copper Creek Villas and Cabins | 185 | July 17, 2017 | [26] | ||
| The Cabins at Fort Wilderness | Fort Wilderness Resort & Campground | >300 | July 1, 2024 | [27][28] | |
| Old Key West Resort | N/A | 761 | December 20, 1991 | [4] | |
| Saratoga Springs Resort & Spa | 888 | May 17, 2004 | [10] | ||
| Riviera Resort | 300 | December 16, 2019 | [2] | ||
| Vero Beach Resort | Vero Beach, Florida | 211 | October 1, 1995 | [8] | |
| Hilton Head Island Resort | Hilton Head Island, South Carolina | 123 | March 1, 1996 | [9] | |
| Aulani | Ko Olina, Oahu, Hawaii | 460 | August 28, 2011 | [11] |
Additionally, participating non-Disney owned destinations are available via exchange through Interval International[29]
See also
edit
References
edit- ^ Christoff, Janeen (May 18, 2020). "Disney Announces New Leadership for Parks, Experiences and Products". TravelPulse. Retrieved May 19, 2020.
- ^ a b Tuttle, Brittani (December 16, 2019). "Disney's Riviera Resort now open at Walt Disney World". Attractions Magazine. Retrieved May 27, 2020.
- ^ a b MacDonald, Brady (May 22, 2020). "Disneyland reveals new details about planned Disney Vacation Club time-share tower". Orange County Register. Retrieved May 27, 2020.
- ^ a b Polsson, Ken. "Chronology of Walt Disney World (1990-1994)". Chronology of the Walt Disney Company. Ken Polsson. Retrieved September 24, 2015.
- The Disney Magazine, Spring 1996, Volume 31, Number 2. Page 18.
- Disney A to Z – The Updated Official Encyclopedia, by Dave Smith, 1998. Page 584.
- ^ a b Allison Schaefers (October 6, 2007). "Disney's travel club cannot sell in Hawaii: A resort on Oahu is set, but the firm needs an OK to offer time shares". Honolulu Star-Bulletin. Retrieved December 3, 2010.
- ^ "Business Entity Detail: Disney Vacation Development, Inc. (search on name or Entity Number: C1701937)". California Business Search. California Secretary of State. Archived from the original on March 15, 2015. Retrieved June 23, 2016.
- ^ Polsson, Ken. "Chronology of Walt Disney Company (Early 1993)". Chronology of the Walt Disney Company. Ken Polsson. Retrieved September 18, 2015. The New York Times, March 31, 1993. Page D4.
- ^ a b Smith, Dave (1998). "Vacation Club Resort, Vero Beach, Florida". Disney A to Z – The Updated Official Encyclopedia. p. 584. Retrieved September 24, 2015 – via Chronology of Walt Disney Company (End of 1994).
- ^ a b Vacation Club Resort, Hilton Head Island, South Carolina. Page 584. Disney A to Z – The Updated Official Encyclopedia, by Dave Smith, 1998. Via Chronology of Walt Disney Company (1996 January-June).
- ^ a b c d Jason Garcia (September 16, 2008). "Disney's time-share kingdom grows". Orlando Sentinel. Archived from the original on September 19, 2008. Retrieved September 16, 2008.
- ^ a b Kain, Matthew (October 12, 2011). "Disney's Hawaiʻi-themed resort awakens local hopes and dreams". Honolulu Weekly. Archived from the original on February 16, 2015. Retrieved June 21, 2016.
- ^ Heath, Thomas (November 25, 2011). "In a blow to Prince George's, Disney backs out of National Harbor". The Washington Post. Retrieved November 18, 2015.
- ^ Pedicini, Sandra (April 4, 2016). "Disney Vacation Club eliminates perks for resale buyers". Orlando Sentinel. Retrieved June 23, 2016.
- ^ a b c Pedicini, Sandra (June 2, 2016). "Disney time shares fuel a robust resale market". Orlando Sentinel. Retrieved January 12, 2017.
- ^ "Major New Disney Vacation Club Resale Restrictions". Disney Tourist Blog. 2019-01-08. Retrieved 2019-02-06.
- ^ a b Pedicini, Sandra (January 18, 2016). "Disney begins bypassing courts with time-share foreclosures". Orlando Sentinel. Retrieved June 23, 2016.
- ^ Pedicini, Sandra (May 22, 2016). "DVC approves Vacatia, names its newest project". Orlando Sentinel. Retrieved June 23, 2016.
- ^ a b Sage, Dusty (May 19, 2023). "The Villas at the Disneyland Hotel – Rooms, Photos, Reservations". Mice Chat. Retrieved July 19, 2023.
- ^ Krieger, Paul (2022-02-17). "NEW Grand Floridian DVC Villas On Sale March 3rd". DVC Fan. Retrieved 2022-03-15.
- ^ a b "Disney provides updated timeline for Parks and Experiences openings through 2026". WDWMagic. February 9, 2024. Retrieved March 16, 2024.
- ^ "NEW DVC Tower Coming to the Disney's Polynesian Village Resort". DVC Fan. 2022-03-15. Retrieved 2022-03-15.
- ^ a b "Disney's Riviera Resort Public Offering Statement Rev. 02/28/2019" (PDF). Retrieved 16 July 2021.
- ^ "Robert A.M. Stern Architects - Disney BoardWalk". Archived from the original on May 25, 2011.
- ^ "Disney's Polynesian Villas & Bungalows Makes its Grand Opening Debut at Walt Disney World Resort". Disney Parks Blog. April 2015. Retrieved March 23, 2024.
- ^ "The Walt Disney Company Annual Report 2000" (PDF). Retrieved 16 July 2021.
- ^ Bevil, Dewayne (June 26, 2017). "First look: Disney Vacation Club's Copper Creek". Orlando Sentinel. Retrieved April 5, 2018.
- ^ Burks, Robin (February 26, 2024). "DVC Sales for The Cabins at Disney's Fort Wilderness Open Tomorrow". All Ears. Retrieved February 26, 2024.
- ^ Niles, Robert (April 20, 2023). "Disney World to Convert Fort Wilderness Cabins to DVC Resort". Theme Park Insider. Retrieved December 26, 2023.
- ^ "Disney Vacation Club Destinations International". disneyvacationclub.disney.go.com. Retrieved 2022-04-28.