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Old 07-21-2013, 07:31 PM   #1
twinsouvenirs
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Wondering about the "lock off premium"

So I am reading the multi-site public offering statement before we send in our docs, and just wondering how the 'lock off premium' works in reality. It says it is for 'reservation purposes only'... but what does that mean functionally? Functionally, can they put more 'points on the board' than are accounted for because of this premium, or am I misunderstanding?

Also, it doesn't affect our decision but I was interested to see that DVC retains the right to charge non-Aulani DVC owners an exchange fee (cash, I am assuming) should demand be higher than anticipated relative to other resorts
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Old 07-22-2013, 01:09 PM   #2
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Quote:
Originally Posted by twinsouvenirs

Also, it doesn't affect our decision but I was interested to see that DVC retains the right to charge non-Aulani DVC owners an exchange fee (cash, I am assuming) should demand be higher than anticipated relative to other resorts
I hope not !!! Then DVC would charge Aulani DVC contracts for VGC or WDW bookings. It does not work that way . I can use my BWV points with no $95 fee for Aulani.
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Old 07-22-2013, 01:24 PM   #3
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Quote:
Originally Posted by twinsouvenirs View Post
So I am reading the multi-site public offering statement before we send in our docs, and just wondering how the 'lock off premium' works in reality. It says it is for 'reservation purposes only'... but what does that mean functionally? Functionally, can they put more 'points on the board' than are accounted for because of this premium, or am I misunderstanding?
Would help if you could quote the entire passage. I THINK I know what you're getting at, but don't want to comment unless I'm certain. And I'm not going to dig through the entire POS to find the passage.

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Also, it doesn't affect our decision but I was interested to see that DVC retains the right to charge non-Aulani DVC owners an exchange fee (cash, I am assuming) should demand be higher than anticipated relative to other resorts
Realistically, DVC could implement a whole host of fees if they desired. The $95 fee to book non-DVC properties (excluding DL) has only been around for 6-7 years. They could add fees for booking non-home resorts, fees for modifying reservations, fees for booking more than "X" reservations in a year, cancellation fees, etc. Many other timeshares have already gone down this road.
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Old 07-23-2013, 11:02 AM   #4
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I think I've been thinking about the same thing lately. If I'm understanding the OP correctly, the 'issue' is the disparity between renting a two bedroom versus renting one one bedroom and one studio. We all know that renting the entire two bedroom costs less points than renting a one bedroom and studio separately. I think the OP is referencing something that implies that Disney sells the lower point cost rather than the higher 1bed+studio cost.

For example, lets build a new DVC resort that has exactly one two bedroom lock off. We charge 50 points for one night in the two bedroom. We charge 40 points for the one bedroom and 20 points for the studio.

How many points are we allowed to sell per night? Is it 50 or 60?

If we sell 60 points then if everyone rents the room as a 2 bedroom, there will be people with points, but no inventory for them to rent. That seems like something that should not be legal.

My guess is that Disney sells the lower point price for lockoffs (2-bedroom cost) and that the "lockoff premium" refers to the fact that when one bedrooms and studios are rented, the "premium" puts points in Disney's pockets, which they can do something with and not violate the point cap. That's probably why Disney can offer 15$ extra points to complete a reservation. Those points came from 1 bedroom and studio reservations.
(Again, this is my guess as to how things work since it is the most logical and fair way to handle it).
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Old 07-23-2013, 11:14 AM   #5
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If memory serves, according to the point declarations filed by Disney Vacation Development with the Orange County Comptroller, all lockoff villas are declared at the Two Bedroom point total.
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