OKW Contract Extension Close to Happening

Last week we reported on the possibility of DVC offering 15-year contract extensions to owners at Old Key West resort.  DVC has since sent a member to its Cast Members summarizing its intentions.

As we continue to celebrate “15 Years of Making Vacation Dreams Come True,” I’m pleased to announce an exciting opportunity for Members who call our original resort “home” to add 15 more magical years to their Membership.

In an historic move for our company, we’re preparing to provide Members at Disney’s Old Key West Resort the chance to extend their Disney Vacation Club Membership through January 2057. We’ll hold a special meeting of the Disney Vacation Club Condominium Association on September 24 to vote to extend the resort’s ground lease accordingly and, pending the outcome of that vote, we’ll formally present Members with this opportunity to extend their Membership term, or to decline by deeding their extension to Disney Vacation Development.

We anticipate that a significant number of our Members will take advantage of this unprecedented opportunity, as our Annual Condominium Survey clearly revealed their interest in doing so. As you know, Disney’s Old Key West Resort holds a special place in Members’ hearts, and we look forward to sharing this unique opportunity with our original Member family.

By extending the magic of Membership at our flagship resort, we’ll help families create new memories and pass on the legacy of Disney vacations to their loved ones for years to come. Your leadership team will be providing you with more details on this unique opportunity in coming days. Here’s to “15 More Years of Making Vacation Dreams Come True!”

Since DVC effectively much controls the Condominium Association, it seems a foregone conclusion that the motion will pass.

Pricing rumors suggest that DVC would charge current member $15 per point to extend their contracts from 2043 through 2057, provided that the member agrees to the extension before February 29, 2008.  After that date it will cost $25 per point to extend.


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