2011 Annual Meeting

[cinderella97]

Any news on the tiered benefits???

 

[cbnsoul]

Any news on the tiered benefits???

Not during the regular meeting (although I missed the Q & A session).

 

[keaster]

When will the TiW card be available without AP? We are going in March and would like to get it

 

[DVC Mike]

When will the TiW card be available without AP? We are going in March and would like to get it

Yes, all DVC members will be able to purchase he TIW card.

 

[Breyean]

Where would they put a twin sleeper chair in a studio? Unless she is talking about VGF where they could design it in.

It was posted that one of the reason BWV did not have much of an increase is because the member/cash guest ratio went DOWN. Since neither side added or decreased rooms, I can't figure why that would happen to a degree where it would make that much of a difference.



I'm hoping they are going to use the rooms that DVC owns (203 rooms) to keep the per night points down or declare some of those rooms to DVC. It's a nice option but not for 50 points a night, which is probably what it would be comparing to DLH. I usually stay 5 nights, that would be 250 points, vs 100 that I paid for a studio last May. Too much, I'd rather pay cash.

Just looking at the 2012 points charts for PP and DLH vs 2011 and there's a big increase then.

I shudder to think what the points/night will be at GC.

 

[RobDoc]

Say 2010 had a normal guest mix, then in 2011, More families with kids stayed at BLT and more couples stayed at BWV. In those cases, BLT head count goes up and BWV goes down. I think they are talking about head count in each room.

I think they were talking about the mix of cash guests vs. DVC guests. At resorts where the cash guest reservations were higher than the previous year, more housekeeping expense (and presumably transportation expense) was paid by DRC and when DVC reservations were higher than the previous year, DVC owners at that resort paid a higher % of those costs.

 

[tjkraz]

I think they were talking about the mix of cash guests vs. DVC guests. At resorts where the cash guest reservations were higher than the previous year, more housekeeping expense (and presumably transportation expense) was paid by DRC and when DVC reservations were higher than the previous year, DVC owners at that resort paid a higher % of those costs.

That was my interpretation, too.

Just to illustrate, let's say that in prior years 40% of ALL GUESTS staying at Animal Kingdom Lodge were DVC and 60% were hotel guests. DVC members would pay about 40% of all housekeeping charges.

But last year perhaps the numbers rose to 45% DVC and fell to 55% hotel. Even if the overall housekeeping budget did not change, DVC budgets would be absorbing more of the total cost.

(I'm sure there's more to the calculation than that given DVC housekeeping schedule, larger villa rooms, etc.)

Bilby also specifically stated that Cast Members were added to staff to double-check room conditions, do a better job of matching room requests and to get members into rooms sooner (no real details on what that last one means.)

 

[Sammie]

Did they explain why that decision?
If it's because of high demand I wonder if it will start planning for a second DVC resort in DLR.

 

[tjkraz]

Yeah, another DL DVC is a foregone conclusion. But not until DVC has spent several years mining that market for Aulani sales. More GC availability can only help Aulani. Not so many reports of "I called at 7 months and it was completely booked."

 

[lah3hh]

I asked this on another thread but did they give the actual DVC 2012 Condo meeting date? In the past I am aware it has been the first full week of December but the day of the week has changed between Tuesday, Wednesday and now this year Thursday. Was this discussed at all so those of us who want to come next year can book 11 months out in January?

Was anything mentioned about the tiered benefits during the Q&A time? If not, any good Q's asked that we would like to hear about?

Thanks ahead of time for addressing all of my questions!

 

[hakepb]

Yeah, another DL DVC is a foregone conclusion. But not until DVC has spent several years mining that market for Aulani sales. More GC availability can only help Aulani. Not so many reports of "I called at 7 months and it was completely booked."

Tim, thank you for providing the dvcnews twitter feed!

 

[hakepb]

That was my interpretation, too.

Just to illustrate, let's say that in prior years 40% of ALL GUESTS staying at Animal Kingdom Lodge were DVC and 60% were hotel guests. DVC members would pay about 40% of all housekeeping charges.

But last year perhaps the numbers rose to 45% DVC and fell to 55% hotel. Even if the overall housekeeping budget did not change, DVC budgets would be absorbing more of the total cost.

(I'm sure there's more to the calculation than that given DVC housekeeping schedule, larger villa rooms, etc.)

Bilby also specifically stated that Cast Members were added to staff to double-check room conditions, do a better job of matching room requests and to get members into rooms sooner (no real details on what that last one means.)

That almost makes sense (we both have to pay for housekeeping management), but almost does not. If cash occupancy goes down, then there should be fewer houskeeping hours billed. As more dvc units are sold, then more members are paying dues.

I guess I did hear a CM at Kidani (who I remembered from Jambo a few years back) say that she preferred Kidani b/c at Jambo you had to clean 2 floors of rooms (and we know DVC is only top floor)

 

[nunzia]

*** Point reservations at the Grand Californian will again be allowed.>>>>


Whhaaattt??? !! WHOOP!!!

 

[DVC Mike]

During the Q&A session for the budgets, several questions were raised about the higher than average increases in annual dues. They indicated that the two largest components behind the increases were higher labor costs (medical plans) and higher property taxes.

Someone asked why we're seeing double-digit property tax increases when many parts of the country are seeing small single-digit increases or even decreases. They said the taxes are based on the property valuation, and that the valuation is based upon current sales.

No one asked if the current sales was just direct sales by Disney Vacation Development (DVD), or all sales including the resales market. Yes, DVD's prices have gone up, but resale prices have slipped. If you took a look at the sales prices of all deeds recorded, would you really see double-digit increases in property valuations?

Does DVC have a case to appeal the higher valuation/taxes?

 

[RobDoc]

That almost makes sense (we both have to pay for housekeeping management), but almost does not. If cash occupancy goes down, then there should be fewer houskeeping hours billed. As more dvc units are sold, then more members are paying dues.

I guess I did hear a CM at Kidani (who I remembered from Jambo a few years back) say that she preferred Kidani b/c at Jambo you had to clean 2 floors of rooms (and we know DVC is only top floor)

The cash occupancy of villas held in DVD inventory is paid by Disney and not members and the cash occupancy of villas rented using DVC points converted for non-DVC stays (cruise reservations, Disney collection reservations, Concierge Collection reservations, etc.) is also paid by Disney (since they also get the income from those rentals).

All stays using member points are piad by DVC as are RCI exchanges into DVC resorts (as those stays were made using DVC points).

Breakage Income (made using villas unreserved 60 days prior to arrival) is given back to DVC and applied to the Capital Reserve Fund for the corresponding resort (up to a max of 2.5%) and housekeeping for those reservations is also paid by DVC.

The % of use for DVC points and/or cash reservation can fluctuate each year especially for sold out resorts.

 

[disneynutz]

During the Q&A session for the budgets, several questions were raised about the higher than average increases in annual dues. They indicated that the two largest components behind the increases were higher labor costs (medical plans) and higher property taxes.

Someone asked why we're seeing double-digit property tax increases when many parts of the country are seeing small single-digit increases or even decreases. They said the taxes are based on the property valuation, and that the valuation is based upon current sales.

No one asked if the current sales was just direct sales by Disney Vacation Development (DVD), or all sales including the resales market. Yes, DVD's prices have gone up, but resale prices have slipped. If you took a look at the sales prices of all deeds recorded, would you really see double-digit increases in property valuations?

Does DVC have a case to appeal the higher valuation/taxes?

I thought that it is ironic that DVD keeps raising the prices which increases their profits and our property tax bills.

We also got a new Association Treasurer. I wonder what happened to the Treasurer that worked for Jim Lewis?

Bill

 

[RobDoc]

I asked this on another thread but did they give the actual DVC 2012 Condo meeting date? In the past I am aware it has been the first full week of December but the day of the week has changed between Tuesday, Wednesday and now this year Thursday. Was this discussed at all so those of us who want to come next year can book 11 months out in January?

Was anything mentioned about the tiered benefits during the Q&A time? If not, any good Q's asked that we would like to hear about?

Thanks ahead of time for addressing all of my questions!

No, there was nothing announced about the 2012 Annual Meeting (and that is consistent with past years).

In addition, there was no mention of tiered membership levels this year (remember, the guy that brought that up is no longer with DVC )and no questions about that were asked during the public Q&A session.

 

[DebbieB]

During the Q&A session for the budgets, several questions were raised about the higher than average increases in annual dues. They indicated that the two largest components behind the increases were higher labor costs (medical plans) and higher property taxes.

Someone asked why we're seeing double-digit property tax increases when many parts of the country are seeing small single-digit increases or even decreases. They said the taxes are based on the property valuation, and that the valuation is based upon current sales.

No one asked if the current sales was just direct sales by Disney Vacation Development (DVD), or all sales including the resales market. Yes, DVD's prices have gone up, but resale prices have slipped. If you took a look at the sales prices of all deeds recorded, would you really see double-digit increases in property valuations?

Does DVC have a case to appeal the higher valuation/taxes?

In my area, property taxes are based on the assessed value. They only reassess property every 10 years or so. I assume the DVC resorts are one total assessed value, not per unit. I can't see them reducing the assessed value of the buildings based on lower resale prices. In 2042 when the original resorts contracts expire, the buildings assessed value for tax purposes will not reduce to zero.

 

[tjkraz]

Regarding the property taxes, it was stated that the tax rate applicable to the WDW properties increased by 4% in the coming year. Even if the valuations haven't changed, our tax bills were going to increase.

With Florida having no state income tax and all of WDW being a cash cow for them, I can only assume they monitor valuations very closely. OC would cost themselves countless dollars by not jumping on any / every opportunity to raise taxes.

Also bear in mind that the DVC resorts are only a tiny fraction of the property on which The Walt Disney Company is taxed every year. If Disney were being lax in questioning and challenging the valuations, it would cost them many, MANY times the amount of money DVC members are paying.

Most processes like this will never be fully transparent to owners. But, IMO, there is every reason to believe that Disney is taking reasonable steps to monitor and vet the valuations. Again, their tax bill is enormous in comparison to ours.

I thought that it is ironic that DVD keeps raising the prices which increases their profits and our property tax bills.

Does that really strike you as being ironic?

 

[hakepb]

Around my home, valuation starts with the municipalities budget. From there, the assessor determines what percentage of the budget you are paying for. If you add on to your home, they cannot easily give you your next years' evaluation because all residents are tied together and the entire process has to be completed.

It does not matter if real estate prices are down across the board, a 3% budget increase means an across the board 3% evaluation increase if not other properties changed their evaluation factor.