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DISNEY PLANS FOR A NEW TIMESHARE AT GRAND FLORIDIAN

Further cementing the company’s move into the time share business, Walt Disney World announced that it was going to build an addition to the high-priced company-owned hotel on its property, Grand Floridian Resort & Spa, the Orlando Sentinel reported. Disney will construct 147 time-share units in a separate building next to the hotel. This is the first new Disney Vacation Club resort to begin construction since the worldwide recession started in 2008, and the new property is expected to open by late 2013. The plans for this project include a children’s water-play area, the Sentinel reports.

This property will consist exclusively of time-share units. This will be the second time-share property Disney has constructed with access to the Magic Kingdom monorail. Bay Lake Tower – built as an addition to the Disney Contemporary Resort, which opened in August 2009 – was the first. Disney current had 11 time-share properties. In a news release on the project, Claire Bilby, senior vice president and general manager of Disney Vacation Club, said "We continually look for ways to expand Disney Vacation Club by creating resort experiences that our members will love.

"With the continued popularity of Bay Lake Tower at Disney's Contemporary Resort, we are thrilled to offer our members and guests a new resort option along the monorail system with easy access to the Magic Kingdom Park, as well as a variety of shopping, dining and recreation experiences," she added. The Orlando Sentinel reports that at its peak, Disney Vacation Club generated roughly $190 million a year in operating profits.



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