2024 Dues. First hint?

[JulieBeeRN]

This is reassuring (as a VGF & BCV owner) that the new Florida time share rules I’ve heard mentioned around here aren’t likely to have an enormous impact.

What are the new timeshare rules?

 

[heynowirv]

Nothing here about OKW

 

[HyperspaceMountainPilot]

BLT is going to be 7.5902 per point, I just got today's mail.

What was it before?

 

[HyperspaceMountainPilot]

What are the new timeshare rules?

I am not familiar with them at all, but I’ve heard others mention that it requires timeshares to keep a much larger amount of reserves (to ensure they have money to pay for repairs and emergencies), and some suggested it may dramatically impact dues—it sounds like at least 2 FL DVC resorts so far aren’t impacted much (if at all).

 

[kneely58]

What was it before?

7.43, so about a 2.2% increase.

 

[HyperspaceMountainPilot]

7.43, so about a 2.2% increase.

So that’s definitely a decrease on a real currency (adjusted for inflation) basis—awesome!

 

[MyDogTink]

Wonder when BLT’s dues will see an increase for the refurbishment? Afterwards for 2025?

 

[Sandisw]

Wonder when BLT’s dues will see an increase for the refurbishment? Afterwards for 2025?

The refurbishments are already funded via capital reserves so it’s already built in.

 

[AwfulWaffle]

Any luck with CCV’s increase anyone?

 

[DVC4]

Anything about VGF?

 

[Jwaire]

The refurbishments are already funded via capital reserves so it’s already built in.

Yes, there's a capital reserves budget but my question has always been what happens during a shortfall and how does that impact future dues.

Are we to assume they've planned for 7 years to put Murphy beds in every DVC resort during a soft refurb? I doubt it. Those beds were expensive to install and seem to be a recent phenomenon that started after RIV based on member feedback.

Are we to assume they planned 5 years ago they were going to move PVB's soft refurb up by at least 12 months? I doubt that either.

Then there's what happened with BRV.

Anyway. Food for thought.

 

[BcIcemen]

Anything on SSR 2024?

 

[Sandisw]

Yes, there's a capital reserves budget but my question has always been what happens during a shortfall and how does that impact future dues.

Are we to assume they've planned for 7 years to put Murphy beds in every DVC resort during a soft refurb? I doubt it. Those beds were expensive to install and seem to be a recent phenomenon that started after RIV based on member feedback.

Are we to assume they planned 5 years ago they were going to move PVB's soft refurb up by at least 12 months? I doubt that either.

Then there's what happened with BRV.

Anyway. Food for thought.

Good points but it is possible that once Murphy beds went into RIV they began accounting for them at all the other resorts as part of the upcoming refurbs.

And, I still believe that the bulk of the rehabs are already funded so that any future impact is minimal. The fact that we didn’t see huge jumps after the most recent ones seems to support they have accounted for some extra costs.

 

[zavandor]

Yes, there's a capital reserves budget but my question has always been what happens during a shortfall and how does that impact future dues.

Are we to assume they've planned for 7 years to put Murphy beds in every DVC resort during a soft refurb? I doubt it. Those beds were expensive to install and seem to be a recent phenomenon that started after RIV based on member feedback.

Are we to assume they planned 5 years ago they were going to move PVB's soft refurb up by at least 12 months? I doubt that either.

Then there's what happened with BRV.

Anyway. Food for thought.

Actually, after the SSR refurb (the first one, not new build, to have the new Murphy beds) SSR saw some of the highest dues increase, percentage wise, in its history for a few years. I never connected the dots, and maybe it's unrelated, but it's a good speculation.

Eta: worth every penny

 

[Brian Noble]

Will we see an increase on contracts hitting the resale markets once all the dues' notices are received?

Timeshare resales have a seasonal component. Late Fall through early Winter tends to see more supply than demand, relatively speaking. Sometime in Spring it tends to go the other way and that seems to last into summer.

 

[Where'sPiglet?]

Actually, after the SSR refurb (the first one, not new build, to have the new Murphy beds) SSR saw some of the highest dues increase, percentage wise, in its history for a few years. I never connected the dots, and maybe it's unrelated, but it's a good speculation.

Eta: worth every penny

Saratoga's renovation had problem with the fire walls and then a lawsuit.

https://wdwnt.com/2020/08/disney-be...g-saratoga-springs-resort-remodeling-project/

 

[Brian Noble]

WDWNT is, to put it charitably, sensationalist. The lawsuit is not about fire safety, it's about a contractor being upset that a job cost more and took more time than they expected when they bid it.

 

[Where'sPiglet?]

WDWNT is, to put it charitably, sensationalist. The lawsuit is not about fire safety, it's about a contractor being upset that a job cost more and took more time than they expected when they bid it.

WDWNT isn't the only source that references the issue. It sounds like the cost overruns were, at least to some extent, related to fire code issues. But the higher-than-expected costs of the renovation were likely not just related to Murphy vs sofa beds.

https://www.disneytouristblog.com/saratoga-springs-project-problems-progress/ This links to an Orlando Sentinel article as well. https://www.orlandosentinel.com/202...ovation-woes-spur-lawsuit-claims-of-bullying/

There was a thread on the DIS as well. https://www.disboards.com/threads/saratoga-springs-fire-code-violations.3810570/

 

[Brian Noble]

The Disney blog ecosystem is an echo chamber and almost as well informed as the average DISboarder. It is fun for entertainment but I don’t consider any of it factual news.

The Sentinel article mostly just restates the filed lawsuit, which by definition is one side of the story. If and when the suit is resolved, that would be different.

 

[DonMacGregor]

WDWNT is, to put it charitably, sensationalist. The lawsuit is not about fire safety, it's about a contractor being upset that a job cost more and took more time than they expected when they bid it.

That is correct. It looks like Validus (the GC), entered into a Fixed Fee Plus Guaranteed Max (G-Max) contract with DVC and ran into problems almost immediately. In their original complaint, Validus alleges that there were conflicts almost immediately. In reading the original complaint, and Disney's affirmative defenses and counter-claim, it looks like Validus had ongoing problems performing the scope of work across the board.

It looks like the fire safing issue (non fire rated HVAC chases that dated back to the original construction) was just the last straw for Disney after a series of cost overruns that Validus tried to ship back onto Disney despite signing the FF+G-Max contract. "Disney doesn't want to/too cheap to correct fire hazard at hotel" just sounds alot sexier.