Aulani, a Disney Resort & Spa, Ko Olina, Hawai‘i conveys the connection of the new resort to the islands

The highly anticipated Disney destination resort currently under construction on the Hawaiian island of O‘ahu now has an official name and a dynamic new Web site offering an inside look at the project. The resort’s name – Aulani, a Disney Resort & Spa, Ko Olina, Hawai‘i – reflects the company’s deep commitment to celebrating the islands’ rich history and traditions. Plans call for the first phase of the resort to open in fall 2011.

Artist's Concept - Proposed

“We want this resort destination to reflect the vibrant culture that surrounds it. The name ‘Aulani’ expresses a connection to tradition and deep story-telling – and its roots are here in this land,” said Joe Rohde, Senior Vice President, Creative for Walt Disney Imagineering. “We’re so grateful to the local Hawaiians who led us to the discovery of this name, and our goal is to live up to its meaning.”

Rohde noted that Aulani translated from the Hawaiian language to English, means “the place that speaks for the great ones” or “the place that speaks with deep messages.”

The Resort
Nearby to historical sites on the western side of O‘ahu, Aulani will be located on 21 acres of oceanfront property in the Ko Olina Resort & Marina development.  The Resort is planned to have 360 hotel rooms and 481 two-bedroom equivalent Disney Vacation Club villas.

Design plans call for amenities to engage every member of the family, a hallmark of a Disney vacation.  Among the recreational highlights planned for the resort are pools and sunset facing hot tubs, a snorkeling lagoon, a variety of kids’ club and other play programs for children, and a river, suitable for tube floating, running through a specially created volcanic outcropping.

The resort will also include an 18,000-square-foot spa designed with families in mind.  The resort, built adjacent to a crystal blue lagoon and a white-sand beach, is planned to also have two restaurants, a 14,545-square-foot conference center and 48,685 square feet of outdoor venues. Located nearby are the existing Ko Olina Marina and a Ted Robinson-designed, 18-hole Championship Golf course.

The Web Site
Disney has launched a new preview Web site, www.DisneyAulani.com, to provide updates and background information on the resort now under construction.  The site also details some of the adventures and amenities under development, and includes conceptual art, descriptions of resort highlights, regularly updated resort information and photos of Aulani as it nears completion.

“We are looking forward to welcoming guests to Aulani to share the fun, immersive family vacation experiences Disney is known for combined with the beauty and culture of Hawai‘i,” said Djuan Rivers, Vice President, Disney Vacation Club and Resort, Hawai‘i.  “We are turning to the Hawaiian culture for inspiration in everything we are doing at Aulani, and we hope our guests will not only enjoy the Disney experience, but will also embrace the unique culture of Hawai‘i and its diverse people.”

Disney Doorway to Dreams, located at Roosevelt Field on Long Island, features a full-scale, two-bedroom vacation home model, interactive zones, children’s play area and more.

The recently opened Disney Doorway to Dreams offers Roosevelt Field shoppers and New York-area residents a convenient and interactive way to discover the excitement of Disney Vacation Club, an innovative vacation-ownership program that allows families to enjoy flexibility and savings on decades of future vacations.

Disney Doorway to Dreams showcases the spacious, family-friendly accommodations featured at Disney Vacation Club resorts. Through Disney Vacation Club, families can relax and spend quality time together, either at Disney destinations worldwide or at more than 500 other popular vacation locations around the world. Disney Doorway to Dreams’ convenient mall location gives visitors a chance to explore the many vacation choices they have through Disney Vacation Club, including magical stays at the Walt Disney World Resort, relaxing cruises aboard Disney Cruise Line and family-friendly, interactive Adventures by Disney trips where families can choose to travel to one of six different continents.

“Disney Doorway to Dreams gives us a chance to reach one of the top markets for our rapidly growing membership base and help Roosevelt Field visitors discover the many benefits of becoming a Disney Vacation Club member family,” said Disney Vacation Club President Jim Lewis. “We aim to duplicate the popularity of our original Disney Doorway to Dreams location in Chicago with our new location on Long Island, sharing the vacation-ownership experience with a whole new group of people.”

To help families envision the ways Disney Vacation Club Membership can enhance the way they vacation, Disney Doorway to Dreams features a full-scale, two-bedroom model of a vacation villa at Bay Lake Tower at Disney’s Contemporary Resort in Central Florida, one of Disney Vacation Club’s newest resorts.

Located on the second floor near Nordstrom, Disney Doorway to Dreams presents a variety of interactive features, including a wall lined with doors that open to display videos, photos and even touch-screen activities. There’s even a kid-sized door that allows children to look through a portal into the kid’s clubhouse, where they will discover a dry-erase mural they can color.

Once visitors have spent time in the interactive entryway, they will have the opportunity to view a brief video about Disney Vacation Club in a twelve-seat theater. Guests then have the opportunity to meet with a vacation guide to learn about the options available to Disney Vacation Club members.

“Disney Vacation Club has always been both a leader and an innovator in the timeshare industry,” said Howard C. Nusbaum, president and CEO of the American Resort Development Association (ARDA). “Offering full-scale model vacation villas in a mall setting is uniquely Disney and this new Disney Doorway to Dreams location makes it fun and exciting for families to learn about new and memorable ways to vacation.”
 
About Roosevelt Field
Celebrating more than 50 years of offering more choices, Roosevelt Field is located at the intersection of Old Country Road and the Meadowbrook Parkway in Garden City and is managed by Simon Property Group, Inc., headquartered in Indianapolis, Indiana. The mall offers unparalleled customer service with amenities including Simon Giftcards, good everywhere Visa debit cards are accepted; Ticketmaster at Simon Guest Services; valet parking; complimentary wheelchairs; strollers; and a post office. It is anchored by Nordstrom, Macy’s, JC Penney, Bloomingdale’s and Dick’s Sporting Goods and has more than 270 specialty stores. For more information, please go to www.simon.com.

Occupancy, Satisfaction Rates Remain Strong

Despite tighter credit markets and high unemployment rates, the U.S. timeshare industry continues to demonstrate its resilience.

Although overall sales continue to reflect the national trend of lower consumer spending, timeshare owners continue to enjoy their pre-paid timeshare vacations, with an 80 percent occupancy rate and an 86 percent product approval rate. This compares with a 60.4 percent hotel occupancy rate, according to Smith Travel Research.

“The downturn in our economy has hit the tourism industry particularly hard; the timeshare segment, however, due in part to its pre-paid nature, is better equipped than most to weather a downturn,” said Howard Nusbaum, president and CEO of the American Resort Development Association (ARDA). “The good news is that timeshare owners are still vacationing, and occupancy remains strong. Coupled with our industry’s emphasis on new efficiencies and improvements to our business model, we will come through the current downturn and be ready to meet the expectations of customers.”

Preliminary 2009 second quarter research indicates that nine out of 10 owners were current on monthly payments, a .2 percent increase over the preceding quarter. Sales efficiencies have improved, as measured by Volume Per Guest (VPG) of $2,043 that was up by two percent from the previous quarter level.
In addition, use of exchange options that offer timeshare owners the ability to trade resort destinations other than those of their “home resort” location are also strong, demonstrating that owners continue to enjoy their timeshares.

Several leading timeshare developers agree with Nusbaum’s outlook.
“We’ve had the best summer on record, and sales continue to be robust. Just because the economy has slowed doesn’t mean we have stopped doing what we do—we’ve taken a closer look at how we can refine our processes and products to deliver memorable vacations that families want to come back to year after year,” said Don Harrill, president and CEO of Holiday Inn Club Vacations.

“At Disney, we have confidence in vacation ownership. In fact, we’re enlarging our footprint outside of the Orlando area by the opening of our newest resort in California and developing one in Hawaii,” added James M. Lewis, president of Disney Vacation Club.

Sergio Rivera, CEO for Starwood Vacation Ownership said, “Closing rates have held up better than expected given the discretionary nature of the product. This supports our belief that consumer dynamics will be strong over the long run.”

This comes as no surprise to David Palmer, CFO of Diamond Resorts International. “Our closing rates this year are identical to those last year, and our collections remain strong. Additionally, our diversified cash flow business model has allowed us to substantially decrease our reliance on the capital markets.”
Most developers report that decreased sales, in part, are a result of purposely slowed sales to maintain a healthy cash flow during the tightened credit market environment. In addition, the industry expects to limit new construction until inventory levels are reduced.

“An increase in volume aided by improving consumer sentiment and recovering capital markets will accelerate absorption,” said Nusbaum. “Most of all, demographics are on our side, with baby boomers and succeeding generations eager to purchase a piece of flexible vacation real estate, allowing them the better vacationing and the undeniable value proposition that timeshare offers. Our industry is primed to fulfill the increased consumer demand for quality vacation experiences.”

The American Resort Development Association is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Established in 1969, ARDA today has over 1,000 members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate. The membership also includes timeshare owner associations (HOAs), resort management companies, and owners through the ARDA Resort Owners Coalition (ARDA-ROC). For more information, visit www.arda.org or ARDA’s consumer website at www.VacationBetter.org.

Refinancing Crisis, Erosion of Property Values, Pending Tax and Climate Change Bills Lead The Real Estate Roundtable’s Policy Concerns

Kicking off its 2010 fiscal year, The Real Estate Roundtable in July welcomed a new board of directors and committee leaders, while vowing continued efforts to address a variety of national policy issues such as the credit crisis, environmental “sustainability,” tax, and other policy issues affecting the health of the real estate sector and overall U.S. economy.

Leading the 21-member board in FY10 will be Daniel M. Neidich, co-CEO of New York-based Dune Capital Management LP. Mr. Neidich succeeds Hilton Hotels President and CEO Christopher J. Nassetta as chairman of The Real Estate Roundtable, a 10-year-old policy organization. The board includes top executives from national real estate firms representing various property types (e.g., office, industrial, multifamily, hospitality and retail) and entity classifications (e.g., privately-held and publicly traded). Six national real estate trade associations (out of a total of 16 that hold membership in The Roundtable) are also represented on the board in any given year.

“I am proud to take the helm at The Real Estate Roundtable, which faces a number of important policy challenges in the year ahead — the most significant of which is the ongoing liquidity and refinancing crisis that is forcing real estate owners into bankruptcy and pushing up delinquency rates on commercial mortgages,” said Neidich.

Immediate Past Chairman Nassetta noted that “The real estate industry’s continued, unified efforts on the policy front, involving The Roundtable’s new leadership, CEO-level membership and national partner organizations, will ensure that policymakers fully understand how their decisions affect real estate markets, which are so closely interconnected to the health of the national economy.”

Roundtable President and CEO Jeffrey D. DeBoer added, “With so many significant policy issues now under consideration by the Administration and congressional policymakers, The Roundtable will continue to present practical solutions to complex issues based on fact-based analysis, supported by industry leaders and experts.”

In addition to Neidich, Nassetta and DeBoer, the FY10 Roundtable board includes: Roundtable Secretary Robert S. Taubman, who is chairman, president and CEO of Taubman Centers, Inc.; Roundtable Treasurer Jeffrey Schwartz, chairman of Global Logistic Properties; John C. Cushman, III ,chairman of Cushman & Wakefield, Inc.; Michael Fascitelli, CEO, Vornado Realty Trust; Thomas M. Flexner, Global Head of Real Estate, Citigroup; James L. Helsel, Jr., partner, RSR Realtors LLC and treasurer of the National Association of Realtors (NAR); C. MacLaine Kenan, executive director, Arcapita, and chairman, National Association of Foreign Investors in Real Estate (AFIRE); James L. Lewis, president, Disney Vacation Club and chairman, American Resort Development Association (ARDA); Roy Hilton March, CEO, Eastdil Secured; Constance B. Moore, president and CEO, BRE Properties, Inc., and chair, National Association of Real Estate Investment Trusts (NAREIT); James A. Peck, senior director, CB Richard Ellis, chairman, BOMA International; Ronald R. Pressman, president and CEO, GE Capital Real Estate; Scott Rechler, chairman and CEO, RXR; William C. Rudin, president, Rudin Management Company, Inc.; Richard Saltzman, president, Colony Capital; L. Peter Sharpe, president and CEO, The Cadillac Fairview Corporation LTD, and chairman, International Council of Shopping Centers (ICSC); Douglas W. Shorenstein, chairman and CEO, Shorenstein Company LLC; Martin Stein, Jr., chairman and CEO, Regency Centers Corporation.

The Roundtable’s current policy agenda includes a “Five Point Plan” for restoring liquidity to the credit market. In recent months, several of the recommended steps in the plan have been enacted or implemented. However, in The Roundtable’s view, additional policy action is needed to facilitate loan workouts and restructurings (e.g., through temporary changes in the tax rules governing real estate mortgage investment conduits [REMICs]); and an overhaul of policies governing foreign investment in U.S. real estate (FIRPTA). “The debt markets, including the CMBS market, are still generally dysfunctional, transaction volume remains at virtually zero, and commercial property values remain under downward pressure,” said Neidich who spent 25 years at Goldman Sachs before becoming chairman and co-CEO of Dune Capital in 2003.

In recent testimony, Federal Reserve Board Chairman Ben Bernanke and U.S. Treasury Secretary Tim Geithner both acknowledged the lack of credit capacity and deterioration in commercial real estate markets. Additionally, Joint Economic Committee Chair Carolyn Maloney (D-NY) held a July 9 hearing on commercial real estate liquidity and market conditions at which The Roundtable’s DeBoer testified.

The Real Estate Roundtable is unique in its focus on “big picture” policy issues affecting the national economy and overall real estate industry. It also is the only advocacy group in Washington that brings together chief executives of top U.S. real estate entities (representing all market segments, asset classes, ownership vehicles and capital structures) with the leaders of 16 national real estate trade associations to develop broad-based industry perspectives on key public policy issues. For more information: www.rer.org.

Jim Lewis, president of Disney Vacation Club, a growing vacation ownership division of The Walt Disney Company, has been elected Chairman of the American Resort Development Association (ARDA), the national trade association representing the vacation ownership industry.

“ARDA and the vacation ownership industry are fortunate to have Jim Lewis’ leadership during this particularly challenging time in our history,” said Howard C. Nusbaum, RRP, ARDA’s president and CEO. “Jim’s passion for the product and in-depth knowledge of the industry puts ARDA in very capable hands at a time when the industry needs to work together. His personal integrity and commitment to industry excellence makes him the right leader at the right time.”

Since 1991, Disney Vacation Club has been a growing vacation ownership business which includes eight themed Disney Vacation Club Resorts, more than 400,000 individual members from approximately 100 countries and every U.S. state, and more than 2,000 employees (known as Cast Members).  Jim has led Disney Vacation Club to more than double its business since 2003.
As part of the Walt Disney Parks and Resorts Worldwide Operations Steering Committee, Jim helps develop the vision and strategy for this global business, managing performance expectations, technology application, product-investment levels, competitive positioning, expansion, and talent development. 

“It is both an honor and a humbling responsibility to have been chosen by my peers to lead the Association at this unique time. I am confident that, together, we will work through the present economic obstacles and continue to provide the excellent family vacation experiences that millions of Americans want and deserve,” said Jim Lewis.

Lewis is a Certified Public Accountant, and holds an MBA from the Krannert School of Business at Purdue University , where he received the Distinguished Alumni Award. Lewis serves on the board of Rejoice in the Lord Ministries and represents Disney on the board of Florida Hospital . He recently served as Chairman of the Orlando Regional Chamber of Commerce and in 2007 was named as one of the ten most influential businessmen in Central Florida by the Orlando Business Journal. A leader on the ARDA Board of Directors since 2004, Lewis will serve as chairman for two years.

About ARDA
The American Resort Development Association (ARDA) is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Established in 1969, ARDA today has over 1,000 corporate members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate. The membership also includes timeshare owner associations (HOAs), resort management companies, and owners through the ARDA Resort Owners Coalition (ARDA-ROC).

Disney’s Doorway to Dreams, to be located at Roosevelt Field on Long Island, is planned to feature full-scale, two-bedroom vacation home model, interactive zones, children’s play area and more

Scheduled to open later this summer, Disney’s Doorway to Dreams will offer Roosevelt Field visitors and Long Island, N.Y.-area residents a convenient and exciting way to learn firsthand about Disney Vacation Club, an innovative vacation-ownership program that helps families enjoy flexibility and savings on decades of future vacations.

Disney’s Doorway to Dreams will showcase the accommodations at Disney Vacation Club resort hotels, which are spacious and offer numerous home-like amenities. These vacation villas provide families with a place to relax and spend quality time together either at Disney destinations worldwide or at more than 500 other popular vacation locations around  the world. This convenient mall location will give them a glimpse of the choices they have, from a magical stay at the Walt Disney World Resort or a relaxing cruise aboard a Disney Cruise Line ship to a family-friendly, interactive Adventures by Disney trip or an exotic jaunt to South America.

“Our first Disney’s Doorway to Dreams location has been very popular and a great way for Chicago-area residents and visitors to learn more about the family vacation experiences available through Disney Vacation Club,” said Disney Vacation Club President Jim Lewis. “Now, we are delighted to bring Disney’s Doorway to Dreams to New York, which is one the top markets for our rapidly growing membership base, so that more people can discover all that Disney Vacation Club has to offer.”

To help families envision just what those vacations will entail, Disney’s Doorway to Dreams, located at Roosevelt Field on Long Island, NY, will feature a full-scale, two-bedroom model of the vacation home accommodations Disney Vacation Club members and their families can expect to find at Disney Vacation Club resort hotels.

 “Disney has always been a unique and innovative leader in the timeshare industry,” said Howard C. Nusbaum, chief executive officer of the American Resort Development Association (ARDA). “Now, Disney’s Doorway to Dreams allows New York-area families the chance to experience how a timeshare ownership can help ensure years and years of memorable family vacations.”                                                         

Designed to create a fun and immersive experience, Disney’s Doorway to Dreams is planned to go beyond featuring model accommodations to offer an interactive family vacation discovery zone, comfortable discussion areas and a supervised children’s play area within its approximately 6,900 square feet of retail space.

Celebrating more than 50 years of offering more choices, Roosevelt Field is located at the intersection of Old Country Road and the Meadowbrook Parkway in Garden City and is managed by Simon Property Group, Inc., headquartered in Indianapolis, Indiana. The mall offers unparalleled customer service with amenities including Simon Giftcards, good everywhere Visa debit cards are accepted and Simon American Express Giftcards, which can be used everywhere American Express cards are welcomed; Ticketmaster at Simon Guest Services, valet parking; complimentary wheelchairs; strollers and a post office. It is anchored by Nordstrom, Macy’s, JC Penney, Bloomingdale’s and Dick’s Sporting Goods and has more than 270 specialty stores. For more information, please go to www.simon.com.

For more information about Disney Vacation Club and the new Disney’s Doorway to Dreams preview center, please visit www.disneyvacationclub.com.

Group RCI, the global leader in vacation exchange, and Disney Vacation Club, one of the world’s most innovative and fastest-growing brands in the vacation-ownership industry, announced today a new multi-year affiliation relationship. This new agreement allows subscribing members access to a broad array of exciting vacation opportunities.

Effective January 1, 2009, RCI will become the exclusive third-party exchange provider for Disney Vacation Club, enrolling Disney Vacation Club’s more than 135,000 member families into RCI’s global exchange network. RCI has one of the most expansive portfolios of high-end affiliated vacation resorts, as well as more choices in more countries than any other exchange network.

Disney Vacation Club Members will be able to enjoy vacations at a variety of destinations across six continents and 25 countries and will have access to a significantly broader range of resort experiences, including more all-inclusive options, more nightly exchanges than ever before and even a selection of luxurious, high-end fractional properties.

Similarly, RCI’s more than 3.6 million members will now also enjoy the opportunity to exchange into Disney Vacation Club resorts and may rent at Disney Vacation Club resorts throughout the year.

“Group RCI has the management depth, technology resources and global marketing infrastructure to align with Disney Vacation Club’s strategic growth plan,” said DVC President Jim Lewis. “This relationship will provide our member families with the most diverse experiences possible beyond our signature Disney Vacation Club resorts.”

Geoff Ballotti, President and CEO of Group RCI, notes that the company is looking forward to working with Disney Vacation Club and its member families in the coming years.

“It’s an honor for all of us at Group RCI to have been selected by one of the most internationally recognized and revered brands on the planet,” commented Geoff Ballotti, President and CEO of Group RCI. “For more than 50 years, Disney has been offering unique family vacation experiences with legendary service, superb accommodations and magical touches at every turn. We are absolutely thrilled to welcome Disney Vacation Club members into the world’s largest vacation network and we look forward to working closely with Disney Vacation Club to continue to build new and innovative programs that will provide even more member benefits and opportunities.”
About Group RCI
Group RCI, part of the Wyndham Worldwide family of companies, (NYSE: WYN) is the worldwide leader in vacation exchange and the European leader in vacation rentals, with exclusive access for specified periods to more than 67,000 vacation properties in approximately 100 countries. The company is comprised of vacation exchange, including RCI®, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers and The Registry Collection, the world’s largest luxury exchange program; vacation rentals, including Endless Vacation RentalsSM , Landal GreenParks®, Novasol®, English Country Cottages, French Life®, Cuendet®, and more than 30 other vacation rental brands, through which vacationers can rent a variety of property types, from city apartments to villas; and NorthCourse® Leisure Real Estate Solutions, an international leader in providing a full spectrum of advisory, research, and asset management services. Wyndham Worldwide Corporation is one of the world’s largest hospitality companies with leading brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange. For additional information visit www.grouprci.com or the media center of www.wyndhamworldwide.com.
About Disney Vacation Club
Disney Vacation Club is a vacation ownership program that helps families enjoy flexibility and savings on vacations for decades to come. By becoming a member of Disney Vacation Club, families can enjoy vacations at Disney destinations worldwide as well as other popular Member Getaways vacation locations around the globe.

Disney Vacation Club resort accommodations blend Disney’s famed attention to storytelling detail with all the comforts of home. From well-appointed studios equipped with convenient kitchenettes to sprawling, one-, two- and three-bedroom villas complete with full-size kitchens, washers and dryers, luxury tubs and other homelike amenities, Disney Vacation Club resorts create flexible options to meet the needs of thousands of families from around the world.

Since its inception in 1991, Disney Vacation Club has grown to serve more than 135,000 member families from approximately 100 countries and all 50 states. Disney Vacation Club is owned by Disney Vacation Development, Inc., part of the magic of The Walt Disney Company.