Error Leads to 33% Fee Increase for Disney's Aulani Time Shares

From The Orlando Sentinel
Error Leads to 33% Fee Increase for Disney's Aulani Time Shares
The Walt Disney Co. has been given permission to raise its fees by 33 percent for those who buy time shares at its new, $850 million resort in Hawaii, as the company attempts to fix a financial error that cost three Central Florida executives their jobs.

The approval, granted Thursday by Hawaiian state regulators, clears the way for Disney to resume time-share sales at Aulani, a massive hotel and time share that opened Aug. 29 west of Honolulu on the island of Oahu.

Documents approved Thursday by Hawaii revealed for the first time the magnitude of the error. Disney initially set dues at $4.31 for every time-share "point" purchased by a customer. (Disney Vacation Club sells points that can be redeemed at various times of the year and at different destinations, rather than specific units and time intervals.) Now, however, Disney will charge $5.73 per point a 33 percent increase. Click here for the full story.

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