Contemporary DVC - Orlando Sentinel 1/14/08

[poohstx]

Saw this this morning:

http://www.orlandosentinel.com/busi...08jan14,0,7182920.story?coll=orl_tab01_layout

 

[icydog]

I heard from a couple of cast members that the Contemporary was in the works but now I am sure of it happening. I know that Disney will charge big bucks for the convenience of a monorail timeshare, and like the Beach Club, I think it will sell out as soon as it's announced. My DH and I bought into AKV on our cruise but haven't gone there yet. I would like to sell that property now and save the cash for the Contemporary, but unfortunately I did such a good sales job convincing my husband to buy AKV he won't consider selling it. I figure we got a cruise out it so we are ahead now. Anyway, I look forward to this new addition to DVC's timeshare portfolio. These new resorts have been a long time coming and I am thrilled with the new possibilites for us and for our kids when we pass on. Mr Lewis' arrival has greatly impacted DVC's inventory. I, for one, am totally psyched!!

 

[Glendamax]

Thanks for posting! I hope the point chart is not too crazy, so people can get a chance to stay there without borrowing, banking and BEGGING!

 

[Tinkerdreams]

I think a lot of people will be adding on with the CRV, just to have the 11-month booking advantage - me included.

 

[browniemtb]

I'm really curious as to what the prie per point would be set at. Because we all know that both the cost and points per night will be higher than the other DVC resorts......are we looking at the rumored $115 per point???
Brownie

 

[Inkmahm]

Darn it, I checked the miscellaneous board before posting this same article but didn't think to check here.

I hope it is a DVC that they are building, even though I have no interest in adding on more points to buy it. I'll let others pay the higher prices and then at some point in the future, I'll just switch in at 7 months.

 

[tjkraz]

Note that the article is pretty much the same type of speculation that has been going 'round these boards for over a year:

"It is also possible that Disney could decide against marketing the Contemporary addition as time shares and use the building for more hotel rooms instead. Company executives said recently that Disney World hotels are averaging 90 percent occupancy, and the Contemporary commands some of the highest room rates of them all: A one-bedroom suite can run as high as $1,310 a night.

"I know [Disney has] talked about a tower there for a long, long time," even before the company's interest in time shares, said Reedy Creek District Administrator Ray Maxwell."

The SEC filing is about the only new information that the author brings to the debate, yet he hedges his bets with the above statements.

 

[nunzia]

Well, there you go! I hope this rumored $115 a point won't be the price at GCV...
Would that stop me? No.

 

[robinb]

I have money in the bank earning interest while I wait for CRV to be officially announced!

 

[tomandrobin]

This is an interesting article. The SEC filing does add more fuel to the fire.

 

[burnsoc]

According to the article, Kidani Village will only have about 390 units. I thought that it was higher than that. Does anybody know if the article is correct about this?

 

[tomandrobin]

According to the article, Kidani Village will only have about 390 units. I thought that it was higher than that. Does anybody know if the article is correct about this?

Units per building: 134 Jambo House; 324 Kidani Village

 

[tjkraz]

Units per building: 134 Jambo House; 324 Kidani Village

With 450+ units, AKV will be between Old Key West (around 530) and BoardWalk (about 400 units) on the DVC food chain. It is quite a substantial facility.

 

[burnsoc]

Thanks for the quick reply tomandrobin!

 

[ILuvDVC2]

I wonder if they'd up the number of points required to add on at CRV. Would they dare say you have to add on a minimum of 160, given how popular it will be amongst members to add on? Just speculating...

 

[drusba]

Speculation is a grand endeavor. Here is the statement from Disney's annual report for fiscal year ending September 29, 2007 that is referred to in the article:

"The Disney Vacation Club (DVC) offers ownership interests in eight resort facilities located at Walt Disney World Resort; Vero Beach, Florida; and Hilton Head Island, South Carolina. Available units at each facility are offered for sale under a vacation ownership plan and are operated as rental property until the units are sold. After completion of Saratoga Springs Resort & Spa in May 2007 and the first phase of Disney's Animal Kingdom Villas in July 2007, DVC has approximately 2400 vacation ownership units. Developement of approximately 680 additional units is under construction at Walt Disney World. These accomadations are scheduled in phases with an anticipated completion of the final phase planned for summer 2009. In 2007, the Company announced plans to open the first DVC Villas in Anaheim, California, and on the island of Oahu, Hawaii. In Aneheim, 50 DVC villas and 200 additional hotel rooms at Disney's California Hotel & Spa are scheduled for completion in late 2009. In Oahu, the Company has purchased 21 acres of oceanfront property which will be home to a new DVC resort. This resort, scheduled to open in phases beginning in 2011, is expected to have more than 800 units, including DVC villas and hotel rooms."


The 680 mentioned would thus include Kidani and about 70% of Jambo since it is discussing things as of end of September. You could get up to close to 680 total if you counted each 2BR lock-off to be added at AKV as two units -- studio and 1BR. However, the "2400" units currently available number given earlier in the statement would be accurrate only if 2BR lock-offs are counted as 1 unit. Also, is not Kidani scheduled for completion in early to spring 2009 in offical announcements and thus a phase to be completed in "summer 2009" would need to be something else?

 

[dcfromva]

Wow! It looks like they've added another floor on since we visited a month ago.
If they are doing a little about 1 floor a month, it's going along a lot faster that I thought it would. (Are there supposed to be 15 floors?)

I wonder how long it takes to do the insides? (Just trying to figure how long before it might be done and how long before they start selling, if it is DVC . )

 

[Luv2trav]

All of this speculation has me very excited. We are new owners and imagined ourselves actually selling in about 7-10years because of the ages of our children. We felt that maybe we would want to expand our vacation habit. Now with Hawaii and rumored Lake Tahoe and Caribbean we may have to keep it forever...

 

[ITGirl50]

We just bought AKV (after waiting many years) knowing that Contemporary could open up, but we figured AKV is very unique and that current DVC members would get first chance to buy CRV. We hope anyway.

 

[Mama2Matthew]

I am so excited about this! DH and I have been waiting for CRV to take the plunge... I'm surprised DVD created a fictitious name to hide that they were behind the tower. Now the little bit of doubt I had is completely gone. Here's the info about JMSRM and here's the building permit, if anyone's interested and if the links work.

ETA: There's also a JMSRM permit for modifications to the Cinema Building. Perhaps that would be the CRV models some have posted about...