5/24/24, PVB association license amendment (5/30/24 updated to Approved)…confirmed adding tower weeks
- Thread starter maui22
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I just want to say hi everyday.
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- Nov 15, 2008
Yes, they can definitely do that. The tower could technically be a mix of both.
The only reason I don’t see that is that it would be trying to sell the same building two different ways at the same time. It would seem to be confusing, but I am sure they could figure it out.
Looks like the update didn’t add as many as once thought…so it is interesting.
tidefan
DIS Veteran
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- Apr 1, 2007
If it is just 4 units looking right now, I may go back to another thought I had a few months ago. What if they allow direct add-ons to PVB for only original PVB1 direct buyers?
Everything else goes into another resort use plan?
This way, they may can have their cake and eat it too...
This is incorrect. It is an addition of 222 units.
See @mkatsy post
https://www.disboards.com/threads/island-tower-at-polynesian-villas-bungalows.3945907/post-65514198
tidefan
DIS Veteran
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- Apr 1, 2007
- Joined
- Nov 15, 2008
The info about the 4 units has been corrected in the other thread so scratch what I said about that!!
HyperspaceMountainPilot
DIS Veteran
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- Dec 23, 2019
Can someone break this down for me? They think 2BD will only be 222 points for a week? That sounds very low.
The license amendment doesn’t have anything to do with points. Point charts and these details will come from future information.
Today’s amendment only discloses 11322 timeshare weeks are added to PVB.
11322 divided by 51 weeks (52nd week is left out because roughly Disney maintains 2% for maintenance). That equals 222 units being added.
The excitement is this is paperwork of Disney turning 222 units over to PVB association. No more debate on same or different association for these 222 units.
Mai Ku Tiki
DIS Veteran
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- Aug 27, 1999
So my Q on other THREAD was about PTS ROFRd recently which doesn't have anything tp do with this then?
But DVD MAY BE holding back UNITS for TRUST?
(Your other ISLAND thread reply here) :
From my understanding, they can’t just put points in. Points represent real rooms and in order for property to be added to the trust, it must belong to DVD.
DVD doesn’t own full units at PVB long houses snd bungalows so it can’t be added.
Hubalorian
Mouseketeer
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- Apr 24, 2023
My two cents on why it’s only 222
My prediction is there will be 48 1Br and 48 studios
So if we start at 222, subtract 48 lockoff 2br we are down to 174. Now we add in 48 studios and 48 1 brs we land on 270
- Joined
- Nov 15, 2008
The contracts that are being taken come from the original units. DVD sold parts of every unit…and kept part for themselves. That means, they don’t own any full unit in the current rooms to add anything to the trust. They have to add real property and they must define that…then they declare how many points match that property. That is why they can’t do anything with the current rooms…since others own them too.
That is different than the tower. The tower currently is all owned by DVD and they could legally…not thinking the will…declare some units to sell the same way as PVB and move others to the trust to sell that way.
As I said, that seems way too complicated and if they wanted to involve the trust , they could have just gone that way…they rolled this in to PVB and I dont expect them to have a different vacation plan for any of these new units.
@wdrl Wil Lovato has a good article on the amendment. https://dvcnews.com/wdw-resorts/pol...ation-homes-to-polynesian-s-timeshare-license
HyperspaceMountainPilot
DIS Veteran
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- Dec 23, 2019
Great summary of what the sleuths on this thread already pieced together.
I’m wondering if they can wait to see how cash sales look next week before deciding how they want to price/incentivize the first round of sales.
Kailunkat
Mouseketeer
- Joined
- May 14, 2024
If they are keeping rooms in the tower for cash booking purposes they wouldn't need to declare them into the timeshare filing correct? So is there another rule that says the remaining 46 rooms in the tower (the points not declared into DVC) can't just remain owned by Disney for cash booking purposes? It would actually be a really saavy marketing technique to hold on to these rooms and continue to book them as cash for the forseeable future in order to give cash/non-dvc guests a chance to experience the rooms. They could potentially bring in a lot of new DVC contracts through it.
- Joined
- Nov 15, 2008
Some of figured out that the 222 rooms associated with the update to the license is due to there being 2 bedroom lock offs, which means all 270 rooms have been included for eligibility for sale.
DVD doesn’t declare all the rooms to start into the condo association. They do it in increment against sales.
Any rooms not declared is what can be used for cash. And DVD always remains owner of at least 2% of the resort.
But they are in control of it and judo get to decide when and how to add rooms for points based bookings.
MerlinandtheMouse
DIS Veteran
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- Apr 13, 2023
Correct, the tower is an extension of the current PVB association so it has the same rules. Direct can be used anywhere, resale can be used in the original 14.
Electron_si
Mouseketeer
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- Feb 28, 2023
As a RIV direct owner I really hope they consider changing the restrictions on resale for RIV and VDH. More so for being able to buy a resale RIV contract that I can use at RIV to supplement points but also to give some freedom if RIV is booked for a last minute trip.
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