Disney Vacation Club Reveals Plans for Fourth Ownership Resort At Walt Disney World Resort

Business Wire, May 25, 2000

Business & Travel Editors

LAKE BUENA VISTA, Fla.--(BUSINESS WIRE)--May 25, 2000

Disney Vacation Development, Inc., operators of Disney Vacation Club (DVC) - Disney's innovative vacation ownership program -- announced today that it will expand its timeshare resort presence at the WALT DISNEY WORLD(R) Resort in Florida by building a fourth resort, bringing the total number of DVC resorts to six. This latest development marks a time of exciting growth for the Company, which now boasts a membership of 48,000 member families from over 60 countries.

The proposed development - which will be called Disney's Beach Club Villas - is slated to occupy a 6-acre site next to the Disney's Beach Club Resort in the Epcot(R) Theme Park Resorts area within Walt Disney World Resort. Development will begin this June with an estimated completion in the fall of 2002.

"We are very excited about the opportunity to bring the Disney Vacation Club concept to yet another site here at Walt Disney World," said Al Weiss, president of Walt Disney World Resort. "This latest expansion of our successful vacation ownership program allows us to provide still more magical experiences for our guest and member families."

Like its sister resort, Disney's Beach Club Villas will be designed by noted architect Robert A.M. Stern, best known for his East Coast seaside houses. The new ownership resort will be inspired by the casual elegance of Cape May oceanfront homes built in the early 20th century, reflecting a light, comfortable ambiance as characterized by the use of whimsical "stick-style" architecture, pastel colors, porches and other decorative elements.

"Our Company is committed to providing innovative vacation offerings,"said Weiss. "We believe that the new resort will be a great success and that the relaxed charm of this early 1900's eastern seaboard-inspired property will make it a great vacation option for members and guests alike."

Initial plans for Disney's Beach Club Villas call for the development of a 205-unit, free-standing four & five-story vacation ownership resort consisting of studio, one- and two-bedroom vacation villas adjacent to Disney's Beach Club Resort. All units will feature either a pool, garden or courtyard view. Further development plans call for the construction of connecting walkways and full access to Disney's Yacht and Beach Club Resorts; the addition of a pool, as well as enhancements to the existing lobby/retail space and other select guest areas within Disney's Beach Club Resort.

As Disney Vacation Club approaches its decade mark in 2001, the Company is celebrating a number of achievements, including the expansion of its resort collection through the addition of Disney's Beach Club Villas and The Villas at Disney's Wilderness Lodge (expected opening in January 2001) -- subject to government approvals -- as well as the strong growth of its member base.

The current collection of Disney Vacation Club Resorts includes Disney's Old Key West Resort and Disney's BoardWalk Villas -- both located at the Walt Disney World Resort -- as well as Disney's first resorts beyond the Disney theme park locations; Disney's Vero Beach Resort on Florida's Atlantic Coast and Disney's Hilton Head Island Resort in South Carolina.