Disney area to add time share
The 14-story, 253-unit WorldMark will be a third for Anaheim.
By SARAH TULLY
The Orange County Register
ANAHEIM
Disneyland Resort visitors will have the option of staying at the area's largest time-share resort - featuring multibedroom condominiums and a rooftop deck for fireworks viewing - starting in 2008.
Trendwest Resorts Inc. is planning to start construction in January on the 14-story, 253-unit WorldMark Anaheim, the third time-share complex in Anaheim. It will be one of the city's tallest buildings.
The Redmond, Wash.-based company, which owns 58 resorts, decided to build in Anaheim because of survey requests from existing owners and the central location in Southern California.
Plus, condos are attractive for families. They come equipped with washers, dryers, kitchens and entertainment centers.
"For a lot people, that's a much more preferable vacation than your standard motel room," said Mark Lukens, real-estate vice president for Cendant Timeshare Resort Group, including Trendwest.
Time share is a vacation property where an owner can buy use of a condominium for a week or two a year, for example.
The popularity of time shares is growing, with 3.87 million owners as of January, up about 14 percent from the year before, according to American Resort Development Association.
In March, the Planning Commission approved the time-share complex, adding to the two already in the resort area. Cendant also owns Dolphin's Cove, with 136 condos. Peacock Suites offers 139 suites, a combination of hotel rooms and time shares.
Jeff Pank, who manages the Peacock Suites, said his occupancy rates are 12 percent to 15 percent ahead of other hotels.
Trendwest sells "points" that owners can use like cash to buy time in time shares, but the company does not sell individual locations.
Owners can spend their entire vacations in one place or break up their time between different locales. The amount of points depends on demand, season and unit size. For example, a family might want to spend three days at Disneyland, then use the rest of its points in Las Vegas.
On average, an owner can pay $16,000 for the basic time-share plan - a weeklong stay in a hotel that can be used every year for a lifetime, then be passed on to heirs. Owners must pay annual maintenance fees, about $500 a year.
WorldMark is to be built at Katella Avenue and Zeyn Street, down the street from Peacock Suites. It would be almost double the size of the Peacock Suites and offer more amenities. It will sit next to GardenWalk, an outdoor mall and hotel complex that will start construction next year.
The resort features private balconies, as well as outdoor and children's pools, an exercise facility, game room and complimentary, five-level garage. Twelve Presidential Suites will be available. The deck will include cabanas and three spas and seating.
The highest point of WorldMark will be 168 feet tall - just 10 feet shorter than the area's tallest building, the Anaheim Marriott.
Jerry O'Connell, chairman of the Anaheim/Orange County Visitor & Convention Bureau and hotel co-owner, said a large time share could fit in the resort area.
"Obviously, the Disneyland Resort is one of top tourist attractions in the world," O'Connell said. "If you think, you can go to the park a couple of days and the beach for a couple of days. I think it makes sense in that scheme."