What will happen when BWV expires?

[chalee94]

Why was the OKW 15 yr extension offer a trainwreck?

a little history:

http://www.disboards.com/threads/dvcs-old-key-west-extension-ordeal.3078317/

http://www.disboards.com/threads/how-did-okw-extension-work.3169504/

then you have a few like this poster who seems to plan to legally challenge DVC's extension offer to get the extra 15 years for "free":

http://www.disboards.com/threads/okw-contract-extension-quitclaim-deed.2393247/

 

[Briana Venturo]

there is no way to know for sure.

disney may decide to keep the property for themselves, refurb it and book it only as cash rooms. more likely they will resell it as DVC...but then they could change the theming entirely (a lot can happen in 25 years).

my suspicion is that they will resell it for 2042/2043 as a DVC resort - current owners might get a small discount from the $500 per pt pricing in effect at that time but i wouldn't count on much.

they tried extending OKW several years ago but it was a trainwreck - so i don't expect them to offer extensions again (but VWL may be an interesting trial balloon depending on what they do with refurbing hotel rooms in the main lodge to add to DVC.)

just asking why was the OKW extension a trainwreck?

 

[Dean]

just asking why was the OKW extension a trainwreck?

It was largely the way they did it plus they chose the resort least likely to generate interest as a test case. What they did was force everyone into a situation where they either had to pony up $15 ($25 pp but with discounts early on) or sign over their rights to those last 15 years. If not they'd enforce a special assessment for the cost which they do not have the legal right to do as I read the POS. They had roughly 1/3 of the members bite by reports, it'll likely be roughly half of the points as some are taken back ROFR and various bankruptcy foreclosure's. To me that's a a little bit of a scary situation to be in as a 2057 member though not enough to panic over. The poor response made them sit back and say "wait a minute" for other possible extensions. We may well see other options but they'll be different enough that most reasonable OKW owners won't be overly upset. Maybe it'll be late or included with a purchase/extend options.