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GlobeSt.com UPDATE: Disney Switches Gears--Timeshares Instead of Hotels

ORLANDO-Acknowledging that company chairman Michael Eisner's five-year-old Disney Institute Resort concept is a turkey, the theme park plans to tear down a fourth of the 800-room property in the spring and build 192 timeshare units for its in-demand Disney Vacation Club division.

By Alex Finkelstein | Updated on January 25, 2002

ORLANDO-In a sharp market strategy move, Walt Disney World plans to demolish a fourth of the failing 800-room, five-year-old Disney Institute Resort in the spring and build 192 timeshare units for its successful Disney Vacation Club division.

Vacation Club units at five-year-old, 536-room Boardwalk Villas, for example, go for $11,000 a week to $150,000 for a month or more. That project is near sellout. Disney opens pre-construction sales in February on a new timeshare venture, Beach Club Villas, scheduled to break ground at about the same time the 192 new units begin construction.

The new units, tentatively scheduled to open in 2004, haven’t yet been christened. They will be built near Downtown Disney and Pleasure Island. Disney has 22,000 hotel rooms among 19 hotels and 2,000 timeshare units.

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