NEWS: Kingdom Tower at Disney's Contemporary Resort

[DVC Mike]

From the Orlando Sentinel:


The Walt Disney Co. (http://www.orlandosentinel.com/topic/economy-business-finance/media/walt-disney-co.-ORCRP017360.topic) has won approval to begin selling time shares in a 15-story tower the company is erecting next to its famed Contemporary Resort, a $110 million addition that Disney has named "The Kingdom Tower."

Disney has for months refused to divulge its plans for the hard-to-miss, half-built tower that is rising just outside the gates of the Magic Kingdom -- despite rampant speculation among Disney fans that it is destined for time shares.

A spokeswoman for the company's time-share division, Disney Vacation Club, would not discuss the project in detail again Monday.

"We don't have anything to announce today," spokeswoman Diane Hancock said.

But in new filings with the Florida Department of Business and Professional Regulation, Disney formally states that the Disney Vacation Club will "add a ninth component site to be known as Kingdom Tower at Disney's Contemporary Resort."

Disney says in the documents that it will sell the time shares in phases, beginning with an initial 75 units. The Kingdom Tower, which will connect to the existing Contemporary via a fifth-floor pedestrian bridge, will ultimately contain 281 units, according to the filings.

A spokesman for the Department of Business and Professional Regulation, which awarded a time-share license to the Kingdom Tower project earlier this month, said Disney has now been cleared to start selling units at any time.

"They can begin," department spokesman Sam Farkas said.

Disney appears in no rush. The company says in the documents it doesn't expect to finish the Kingdom Tower until the fall of 2009.

Analysts say the company can afford to be patient. The Kingdom Tower, they say, is likely to prove a huge seller, given that it will be the closest time shares Disney has built to the Magic Kingdom -- the busiest theme park in the world -- and the first built directly alongside Disney's monorail.

"I'd have to imagine that's going to be an extremely popular product," said Jeremy Glaser, a lodging-industry analyst with Morningstar (http://www.orlandosentinel.com/topic/economy-business-finance/morningstar-incorporated-ORCRP010253.topic).

Some analysts think Disney is withholding a formal Contemporary announcement because it does not want to undermine time-share sales at Disney's Animal Kingdom Villas or Disney's Saratoga Springs Resort & Spa, both of which are still selling units. The company's four other time-share resorts at Walt Disney World (http://www.orlandosentinel.com/topic/travel/tourism-leisure/theme-park-vacations/walt-disney-world-resort-PLREC000087.topic) -- as well as one each in Vero Beach and Hilton Head, S.C. -- are sold out.

Glaser, however, said Disney's silence "could just be some trademark Disney secrecy."

Disney's filings with the state also offer more detail about the Kingdom Tower's amenities.

A new swimming pool, for instance, will be large enough for 180 people; go as deep as 4 feet, 11 inches; and feature two hot tubs and a 104-foot-long water slide. There will be two tennis courts, two shuffleboard courts and two boccie ball courts. A barbecue pavilion will have about 490 square feet of covered area and a pair of picnic tables.

Glaser predicted that Disney will choose to market the Contemporary time shares "as more of an upscale product." An early point-chart submitted by Disney to the state -- Disney Vacation Club owners buy points from the company, which they then redeem for rooms, though they must buy through a "home resort" -- shows guests will have to spend more points to rent one- and two-bedroom units at the Kingdom Tower than any of Disney's other existing time shares.

In a further step toward cementing the new tower's status as a time-share resort, Disney has created a new condominium association that would manage the resort once units are sold off to individual owners. State records show that the "Kingdom Tower at Disney's Contemporary Resort Condominium Association" was formally incorporated Jan. 9.

The Kingdom Tower continues a wave of construction for Disney's fast-growing Vacation Club. The company is in the midst of building its first time shares at Disneyland in Anaheim, Calif., and has announced plans to build an 800-room resort in Hawaii in which at least half of the units will be time shares.

Disney also recently obtained approval to rebuild its little-known Treehouse Villas, a 60-unit community in a heavily forested area of Disney World.

The move has prompted speculation that those units, too, could be converted to time shares.

The widespread building boom comes even as the U.S. economy teeters on the brink of a possible recession.

But Tammie Kaufman, a professor at the University of Central Florida (http://www.orlandosentinel.com/topic/education/universities/university-of-central-florida-OREDU0000150.topic) who teaches courses on time shares, said time shares could remain popular even during an economic slump because consumers will want to stretch their vacation money further.

"People are looking for a bargain," Kaufman said.



http://www.orlandosentinel.com/business/custom/tourism/orl-contemporary2608feb26,0,6462018.story

[spiceycat]

yea!!!! finally!!!

:goob::birhdaypa:doublejum:margarita:clappingh:bun ny:

[nono]

New condo association? Sooooo, will we existing DVCers have to trade into the new association? Or access through the Disney Collection? :scratchch

[DVC Mike]

New condo association? Sooooo, will we existing DVCers have to trade into the new association? Or access through the Disney Collection?

DVD establishes a separate condominimum association for each DVC resort. By filing to establish as association for the Kingdom Tower, it just proves that there will be a DVC component.

[DarthGoofy]

New condo association? Sooooo, will we existing DVCers have to trade into the new association? Or access through the Disney Collection? :scratchch


Very interesting question...I also wonder just how many more points it will cost.

[jiggerj]

"The Kingdom Tower"

I love it! :loveisint

[carolina_yankee]

Well, aren't we missing the really big news here? Won't Kingdom Tower be the first DVC resort with a boccie ball court? :)

There will be two tennis courts, two shuffleboard courts and two boccie ball courts.

This is exciting and intriguing. I'm starting to think about a family reunion stay in December 2009. I was teetering between SSR and AKV, now I wonder if it would be possible to get into KT since it will have just finished? The higher points could kill it for me, though . . . Well, at least it will put less booking pressure on AKV!

So, being a long-term planner - after KT, what's next?

Dirk

[tomandrobin]

Probably gives me a year to save up for some of those points!

[nono]

DVD establishes a separate condominimum association for each DVC resort. By filing to establish as association for the Kingdom Tower, it just proves that there will be a DVC component.


Yes, but I'm interested in the positioning of that information with the info just above it...
---------
Glaser predicted that Disney will choose to market the Contemporary time shares "as more of an upscale product." An early point-chart submitted by Disney to the state -- Disney Vacation Club owners buy points from the company, which they then redeem for rooms, though they must buy through a "home resort" -- shows guests will have to spend more points to rent one- and two-bedroom units at the Kingdom Tower than any of Disney's other existing time shares.

In a further step toward cementing the new tower's status as a time-share resort, Disney has created a new condominium association that would manage the resort once units are sold off to individual owners. State records show that the "Kingdom Tower at Disney's Contemporary Resort Condominium Association" was formally incorporated Jan. 9.
---------

Wondering if there's any linkage...I'm reacting to an entire paragraph being written about something routine with the mention of marketing it differently just before that. Seems like one sentence along the lines of "Disney formally incorporated on Jan. 9 to start selling this new project as a timeshare" would cover it.

Probably a writer just jamming all sorts of info into the article, but I wonder if there's something more yet to be revealed. :sherlock:

[goofy4mickey]

Well, aren't we missing the really big news here? Won't Kingdom Tower be the first DVC resort with a boccie ball court?

:laughing: you owe me a keyboard - I was drinking coffee & was mid-swallow when I read this. :laughing:


Wow - and now SO excited!!! And what a motivator - gotta get to work so I can afford more points!! :hahahaha:

[Bacala]

Nice!!

So, what is the abbreviation now? CRV or KTV?

[glypnirsgirl]

Well, color me surprised! :yes: I never really expected that this would be DVC. Now I am concerned ala Nono that this will not really be a DVC resort, but some new upscale timeshare that does not trade with DVC.

I am ready for it to be true. :coolcar:

And I would LOVE for it to be true and just have a premium like the BCV and BWV have due to their proximity to Epcot - only higher!

Elaine

[RweTHEREyet]

Did anyone else catch the blurb about the Treehouses. Since this is an article about DVC and DVC construction, it sure makes you wonder..........

[NYDVC]

This is great!!!!. Lots more questions to be answered. Really want to look at the point charts. Interresting the artical said one and two bedroom points would be the highest yet. Did not mention studios or grand villa's. Will it not have them or will points be the on par with other dvc's.

great option for WDW visit. I will be getting atleast some points if the point charts are at all reasonable.

[harmrose22]

I am glad they finally acknowledged it!!!

I am interested to see how it plays out with points, cost, etc. before getting to excited though!

[sheryl0521]

Can't wait to see the points cart. That will determine if an add on is needed.

[TinkLover]

I too am very anxious to see the point chart..... yippee.... now just have to convince my DH that a few more points there would be worth it.....:woohoodan

[irishdancer]

Very excited here....just read the article to dh who is working from home today. His response "should I call the timeshare store?"... His all-time favorite is the Contemporary. We'll be interested to see the point charts and other details.

[acourtwdw]

Anyone want to guess how much it will cost to add? I am guessing $150 per point.

[Blue&Gold]

Anyone want to guess how much it will cost to add? I am guessing $150 per point.

Let's not give them any ideas...

My guess is that the points themselves will be cost-comensurate with AKV, but the point totals needed for the rooms will be elevated.

If there is a state filing with a point chart, that should be in the public domain somewhere.

And I was getting ready to pull the trigger on AKV...

[RweTHEREyet]

Let's not give them any ideas...

My guess is that the points themselves will be cost-comensurate with AKV, but the point totals needed for the rooms will be elevated.

If there is a state filing with a point chart, that should be in the public domain somewhere.

And I was getting ready to pull the trigger on AKV...


Me, too, and if they don't start selling KTV some time soon, I will probably have to have some of both.

[jbrowna]

I don't see how the cost per point can be elevated too much beyond other DVC resorts -- if so, why not buy at a "cheaper" resort and take your chances at the 7 month window?

I do have no doubt the point requirements, as stated in the article, will be the highest of any DVC resort -- of course! But what does that mean, exactly? Currently the highest is for AKV concierge: 13 Studio, 27 1BR, 37 2BR in the lowest season, 23/45/61 in premier. So we know it will be higher than that: the only question is how much higher? Again, I can't see it being too far out of line, without causing some other problems, especially at the 7 month window, when all of those Kingdom Tower points are able to book at the other, cheaper resorts.

We'll just have to be patient, I guess. Right now, however, I feel really sorry for the guides, who are probably getting pestered with questions they can't answer!

Also, given Disney's history, I wonder how much of this Orlando Sentinal article is part of their plan for building anticipation. Most OS "scoops" have usually been part of Disney's PR plan -- even back to the beginning of WDW. Read "Spinning Disney's World".

[Craig Snyder]

I'll wait till they get horseshoe courts.:whatababy I'm upscale baby and need my amenities!;)

Now if they put a bidet in I'm in like flynn.:highfive: It's the little things that make me happy!:howudoin:

[acourtwdw]

Did we see anything about adding more dining? I haven't been to the CR in a long time. Do they have a store like the other resorts for in room dining, (frozen food, quick meals)? Other wise it's the foodcourt and Chef Mickey's ?

[Blue&Gold]

Think there was talk of another roof-top eatery a' la the California Grille...

[jiggerj]

Where oh where is our Froggy friend with all the juicy news! :scratchch:scratchch

[NYDVC]

Where oh where is our Froggy friend with all the juicy news! :scratchch:scratchch


I agree, this thread needs more Green!!!! :yes:

[DVC Mike]

The filing calls it the "Kingdom Tower Resort". Should we call it KTRV?

https://www.myfloridalicense.com/LicenseDetail.asp?SID=&id=D7D1BEE2578C1A3AD7707E38312ECCE5

[OL60]

Expect it to be 2009 for completion...so I estimate I have 5 days to talk to DW to see if she wants some of the KTV/KTRV/CRV/ei ei o points or not and then about a year to save money for them...

Is three loans too many for points?

[Craig Snyder]

I was thinking about selling blood....:horse: But not sure if it has to be mine.:goodnevil

If that doesn't work I am invinting this new toy...it's on a string and rolls down and bounces back up.:yo-yo:

Then there's always plan#3 hitting the lottery...it's fool proof.:Pokepoke:

[Bacala]

[QUOTE=DVC Mike;136663]The filing calls it the "Kingdom Tower Resort". Should we call it KTRV?
QUOTE]

I vote for KTRV.

Since point totals are going to be higher, it should have more letters than the other resorts!

[2nd Star]

Yes..KTRV

[spiceycat]

someone on the other boards email the author.

he didn't see the point chart - but the contract - the place maximum reallocation chart - the thing that explains what each studio, 1-bedroom, etc - will cost if DVC does away with the seasons and weekdays

otherwords each and every day will be the same point cost.

which I can't see happening anytime in the future.

the other thing was the exchange point cost and for some reason DVC is still using in the contracts the old point exchange.

a 2-bedroom in Choice, dream or magic - the points are generally magic (highest) this is what II use to want to exchange to it. but haven't done so for a couple of years.

so he did not see the point charts.

so guessing like the AKV, the point charts has not been done. now AKV was sold before the point chart - but don't know if KTR will be.

expecting the annoucement to still happen in May - (okay might be sooner) and sales to start next year.

[grumpy]

I just saw this on DVC News and didn't see it had been posted here yet, so hope it's ok to bring this over. Formatting is weird, so just look at KT as the last in the row.

<<<<As part of its legal filings, Disney Vacation Development is required to disclose the maximum number of points that a DVC member would have to spend in order to book a single night at a given resort. DVCNews has obtained a copy of the Maximum Reallocation Chart which includes the "Kingdom Tower Resort."

DVC uses a point system to determine the cost for a single night in any of its resort rooms. The cost will vary depending season and night of the week. However, DVC could conceivably reoganize the points such that every single night of the year costs the same amount to members. That cost is revealed in the Maximum Reallocation Chart.

Following are the Maximum Reallocation amounts for all of the Walt Disney World-based DVC resorts:



OKW BWV (Standard) BWV (Preferred) VWL BCV SSR AKV KTV
Studio 15 15 18 18 18 16 15 16
One Bedroom 30 30 36 36 36 32 36 39
Two Bedroom 40 40 46 46 46 41 45 54
Grand Villa 65 n/a 100 n/a n/a 90 99 96



Based upon the data above, it appears that the average One Bedroom villa at the Contemporary's Kingdom Tower Villas will cost 8% more than BWV(p), VWL, BCV. A Two Bedroom villa will be at least 17% higher than all other resorts.

Note that the absence of separate room categories for Disney's Animal Kingdom Villas (Value, Standard, Savanna, Concierge) suggests that the figure presented is an aggregate of all rooms that are scheduled to be declared into inventory. It is likely that the Kingdom Tower Villas will also have multiple views available, perhaps Magic Kingdom View, Seven Seas Lagoon and Bay Lake. Therefore, even though the KTV Two Bedroom is listed as being 17% higher than the same room at the Beach Club Villas, a room with a Magic Kingdom view may, in fact, have a nightly cost much greater than 17% above BCV.

The complete points charts, including DVC seasons and weeknight vs. weekend stay values should be released as sales officially begin.

[lenshanem]

The article says 281 units. Where does this place KTR as far as size compared to the other WDW DVC resorts? :scratchch

[Slakkie]

Well the newspaper article did it for us - our son loves CR so TTS has two more contracts on their site LOL.

We are going to sell our two 50 pt VWL contracts and buy at KTV or whatever it is... I spoke to my guide to make sure he lets me know when points are available and he said soon.

Even with selling these two contracts I think we are going to be up close to 400 points EEEK!

[kimberh]

This is exciting news, I just hope the price is not out of reach. Any word on what the Point price is going to be yet?

[Blue&Gold]

I spoke to my guide to make sure he lets me know when points are available and he said soon.

Since this hasn't been formally announced yet, your guide is putting his job on the line by even admitting it will ever be for sale, let alone soon!

[Slakkie]

Since this hasn't been formally announced yet, your guide is putting his job on the line by even admitting it will ever be for sale, let alone soon!

We discussed the thing that does not exist and even if it did exist he cannot discuss so it is doubtful anything would happen to him. From what I understand the guides are getting beat up pretty bad on the phone and in person about the subject of an article and so DVC cannot hide from it much longer.

[acourtwdw]

Will Disney start selling KTV before they finish selling through SSR & AKV? Does anyone know how much longer it will before those sell out? Just curious.

Thanks
Annette :)

[carolina_yankee]

See this post (http://www.mouseowners.com/forums/showthread.php?t=13511) for more information. We don't know when sales begin. However, if completion is fall 2009, doesn't that mean sales would begin sometime in spring 2009?

Dirk

[Blue&Gold]

From what I understand the guides are getting beat up pretty bad on the phone and in person about the subject of an article and so DVC cannot hide from it much longer.

Must be tough not being able to sell to people who want to buy... FWIW, the more people tell their Guides they want to "buy the thing that doesn't exist" the more impetus they will have to put it up for sale.

Of course, as we saw with AKV, there are Florida real estate implications about not being able to sell a timeshare until the project is at a certain level of habitability.

[Slakkie]

Must be tough not being able to sell to people who want to buy... FWIW, the more people tell their Guides they want to "but the thing that doesn't exist" the more impetus they will have to put it up for sale.

Of course, as we saw with AKV, there are Florida real estate implications about not being able to sell a timeshare until the project is at a certain level of habitability.

I think that is the exact issue. From what he said people are walking into the SSR DVC center with the article in hand and literally the guides are going crazy pretending to not know what they are talking about when there are people literally standing there with cash.

The little boy can only stand with his finger in the dam so long - something has to give and now my guess is they have got to do something.

As I said I called my guide and did not even mention the thing that does not exist he just said oh if your calling about any potential new development I have you down already.

When I told him I was not even going to ask he said I would have been the only one - including new prospects!

If they can hold off until May I will be surprised. But that works for me - give me time to sell a couple contracts.

[Blue&Gold]

If they can hold off until May I will be surprised. But that works for me - give me time to sell a couple contracts.

I'm sure you aren't the only one... Time to go bargain hunting on the resale boards?

[Slakkie]

I'm sure you aren't the only one... Time to go bargain hunting on the resale boards?


Tomorrow there will be two VWL 50 point contracts up on TTS - trying to stay under 400 points but if I have to keep them and hit 500 I will not cry LOLOL!

[lenshanem]

How fast do you think KTR will sell out? Is BCV the fastest and does anyone know how long that took?

I'll assume they'll give existing DVC members dibs first...

[jerlev]

See this post (http://www.mouseowners.com/forums/showthread.php?t=13511) for more information. We don't know when sales begin. However, if completion is fall 2009, doesn't that mean sales would begin sometime in spring 2009?

One would expect them to be on sale 11 months before they open as one can book their home resort 11 months out...

[spiceycat]

One would expect them to be on sale 11 months before they open as one can book their home resort 11 months out...

don't think florida law allows that happen. not with disney of course, but other timeshares might never be build. all timeshares follow the same laws - well they are surpose too....

it depends. with the new name it is kind of hard to say it is part of the CR.

AKV is definitely part of AKL. so selling could begin immediately.

[jerlev]

One would expect them to be on sale 11 months before they open as one can book their home resort 11 months out...

don't think florida law allows that happen. not with disney of course, but other timeshares might never be build. all timeshares follow the same laws - well they are surpose too....

I don't follow. FL law does not allow them to sell before open? The filings Disney made last month actually allow them to sell the timeshare now. That went into effect a month ago.

[Blue&Gold]

I don't follow. FL law does not allow them to sell before open? The filings Disney made last month actually allow them to sell the timeshare now. That went into effect a month ago.

Believe DVC could begin to sell now---you're right, that's what all the paperwork is all about!

As for the 11 month window, they don't necessarily have to do that... Believe the AKV timeline was something along the lines of sales beginning in Feb 07 for current DVC members, open sales to the public in April. First day to make reservations by AKV owners was in early May for stays beginning in Nov. They then opened the resort to "general" reservations in July. Again, I'm writing this without benefit of notes---but there was a phased plan to A) give existing DVC members a "first chance" for purchases and B) give AKV owners an advantage over owners from other resorts.