Could DVC be sold? And if yes, what could happen?

[lenshanem]

I'm just curious as to the legal aspects of this. If Disney was taken over coudl the new company sell off DVC and/or break it up? What could ahppen in that situation? We coudl be stuck using only our home resort? Woudl they ahve to keep the point systrem? Coudl they buy us out? Anyone with more knowledge about timeshares care to share their thoughst?
Thansk a bunch!

 

[BWVDee]

Yes it could be sold. As to what will happen to it, no one knows. I do not believe the total point aspect of the contract can be changed.

 

[HookdonWDW]

Originally posted by lenshanem
I'm just curious as to the legal aspects of this. If Disney was taken over coudl the new company sell off DVC and/or break it up?

Yes. The new company could sell off DVD to another entity, or keep it's interests in some DVC assets while selling others.

What could ahppen in that situation? We coudl be stuck using only our home resort?

All our contracts promised us was use of our home resort. All of the rest of it could be changed whenever, for whatever reason. If your home resort was sold off, all you would be able to do is book time at your home resort, unless agreements were made to allow trading elsewhere.

Woudl they ahve to keep the point systrem?

I am pretty sure that they would have to keep the point system for those of us who already own. The point system would not need to be utilized for trades though. Just like now, if they raised points in one area, they'd have to reduce them in another.

Coudl they buy us out?

Sure, but they couldn't MAKE you sell. I suppose if they wanted it back bad enough, they could make all of us an "offer we can't refuse" (Mine would be a week each year in AKL Concierge, plus a 7 Day Cat. 3 Cruise for my family

Anyone with more knowledge about timeshares care to share their thoughst?
Thansk a bunch!

I don't claim to have a lot of knowledge, but thems my thoughts

 

[KNWVIKING]

Timeshare law are very regulated and tightly controlled. Basically, your existing contract would have to be honored. Now, that doesn't mean the CM's that work at DVC resorts couldn't be replaced by idiots or other type problems. A bigger worry I have is that "ComcastWorld" could become a place I no longer wish to visit. Then I would own a timeshare at a place I no longer want to stay at.

 

[lenshanem]

Thsi really stinks. Figures I wodul ahev talked my hubby into thsi after years of WDW vacations and then a year later thsi happens. Ya know, I'm sure many of us bought into DVc thinking it was a very safe bet as far as timeshares go. At thsi point, I fell a little stupid. Anyway... here's a thread I found on the rumors board reagrding thsi very topic-

http://www.disboards.com/showthread.php?s=&threadid=510061

If Mariott were to buy I wonder what would happen then? Could they open their timeshare network into ours thsu making ti extremely hard for any of us to book at the DVc properties?
Coudl they force us to change to theri reservation system?

A bigger worry I have is that "ComcastWorld" could become a place I no longer wish to visit. Then I would own a timeshare at a place I no longer want to stay at.

How true, how true... And liek how are we gonna even sale it?!?

All our contracts promised us was use of our home resort.

Kinda makes the saying aroudn herew to buy where you want to stay pretty good advice. Can you imagine the nightmare trying to privately trade out with soemoen for a swap?

 

[KNWVIKING]

..... right now I think it's way too early to start regretting your purchase into DVC.

Personally, I don't think DVC will ever be sold, I don't see enough of an up side for a potential buyer. The purchae cash would take wayyyyyy too long to recover.

I also am not certain that Comcast owning Disney would be the worst thing that could happen.

 

[lenshanem]

So DVC coudl just becoem part of WDW and the other WDw resorts coudl be sold privately cause they coudl generate profit for the new buyer?

I wonder if you owned at BCV, but BC was sold off, wodul BCV owners still be able to use SAB? Isn't that in our contract?

 

[lenshanem]

Actually if DVC was broken off and sold the buyers wodul own the propert out right after all our contrcats end. So it coudl be a money maker then in that aspect? Plus, if it was sold off for a good price?

 

[KNWVIKING]

***"Actually if DVC was broken off and sold the buyers wodul own the propert out right after all our contrcats end. So it coudl be a money maker then in that aspect?"***

In this day and age, no buyer is going to pay a fortune now with the hope of a big payoff 38 years down the road.

 

[spiceycat]

okay back in 92 my sales guide (not the one I have now) - talk in detailed about what happens if Disney does not want to do management any longer - I thought (could be wrong) that the owers could vote to take over control themselves - I think that would be good. I think it would take a 90% vote to this.

it is in the contract - now all I have do is find that piece and see if the same rule applies to BWV and VWL.

 

[BWVDee]

Originally posted by KNWVIKING
..... right now I think it's way too early to start regretting your purchase into DVC.

Personally, I don't think DVC will ever be sold, I don't see enough of an up side for a potential buyer. The purchae cash would take wayyyyyy too long to recover.

I also am not certain that Comcast owning Disney would be the worst thing that could happen.

I agree it is too early to regret your decision to buy a DVC membership. At this point no one knows what is going to happen--which stinks!

I disagree though with there not being enough of an upside for a potential buyer. I can see a very upside to a buyer that is already big in timeshares like Marriott or Hilton. I think they would very much be interested in being able to add 5 resorts ALL located ON WDW property to their fold. Yes in deedy, I can definitly see potential buyers.
Now, this may be a good thing, who knows? It may bring us many more and much better trading options, etc. My concern is I did not want to buy Marriott or Hilton, I wanted Disney. Because I like the way they run their businesses, I like their customer service. It was a company I felt comfortable with purchasing a timeshare from. However with the recent handling of relaying information to members regarding the slide at OKW; I am starting to have some changes of thought regarding Disney and their customer service and business practices.

 

[spiceycat]

yes I wanted Disney not Marriott or Hilton -

Marriott actually charges their members to trade to their other resorts.

I don't know that much about Hilton.

Marriott only trades through II - Disney had other outside sources too.

 

[Simba's Mom]

It seems I heard (or did I dream this?) that DVC is one of the most lucrative things involving WDW-at least one of the most stable after 9/11. Assuming this is true, wouldn't it be dumb of anyone to take over Disney, then dump one of the best money-makers? At least that's what I'm counting on-now is anyone going to burst my bubble?

 

[RobDoc]

Originally posted by spiceycat
okay back in 92 my sales guide (not the one I have now) - talk in detailed about what happens if Disney does not want to do management any longer - I thought (could be wrong) that the owers could vote to take over control themselves - I think that would be good. I think it would take a 90% vote to this.

it is in the contract - now all I have do is find that piece and see if the same rule applies to BWV and VWL.

That does apply to all DVC resorts. The owners at any resort could opt to replace DVC as the management entity. However, should that happen, the new management would not be part of DVC and would no longer have exchange privilege at remaining DVC resorts and all of the existing DVC programs would also no longer be available. Of course, the new management would be free to negotiate their own exchange opportunities. They would also need to negotiate housekeeping services, transportation, maintenance, telephone, landscaping and reservation services- just as all of those aspects have been negotiated by our current management provider (DVC).

The new management would also be free to negotiate their own perks with Disney restaurants, Water Parks and stores- or any other attractions they'd like. They would be able to negotiate their own special deals- like AP rates and better admission discounts. Just think how easy it must be for an outside resort to get the upper hand in those negotiations!

Be careful what you wish for!

 

[lenshanem]

Simba's Mom, maybe SSR woudl be a money maker? But, the other DVC properties are basically already bought. Course, I really don't ahve a clue what i'm talking about. LOL All I know is I'm worried.

As far as Marriott, if they open our DVc properties to their system I wodul think it will be next to impossible for us to ever get a room at a DVc property past our booking window. Can you imagine? The flexibility will be gone. You will almost ahve to book exactly 11 montsh or whatver out. I know most of us do that already, but changing resorts, etc. wodul be gone...

 

[KNWVIKING]

***"I disagree though with there not being enough of an upside for a potential buyer. I can see a very upside to a buyer that is already big in timeshares like Marriott or Hilton. I think they would very much be interested in being able to add 5 resorts ALL located ON WDW property to their fold. Yes in deedy, I can definitly see potential buyers."***

Okay, why did you buy DVC and not Marriott ? Is it because you want to stay on-property ? Where are all these Marriott owner going to stay ? I'm not giving my points up, I'm not trading to stay out on I-Drive. Marriott may be able to brag about owning our resorts, but their current membership has little chance of getting a ressie. Unless of course I'm wrong, and most of our membership bought at DVC because it was easier to spell then Marriott.

 

[lenshanem]

QUOTE]Okay, why did you buy DVC and not Marriott ? Is it because you want to stay on-property ? Where are all these Marriott owner going to stay ? I'm not giving my points up, I'm not trading to stay out on I-Drive. Marriott may be able to brag about owning our resorts, but their current membership has little chance of getting a ressie. [/QUOTE]

But, if they can book once our proirity window is gone... It wodul make chnaging a ressie almost impossible and you'd be stuck each year HAVING to book at your window to guaranteee your trip to a DVC property. Woudln't it stink if ten months out all you coudl get was Marriott's timeshare offsite cause their members booked all the rooms up at our DVC resorts!

Unless of course I'm wrong, and most of our membership bought at DVC because it was easier to spell then Marriott.[

I hope that is not a stab at me!

 

[KNWVIKING]

oN ,of ocurse ont Shan.

No, of course not Shan.

 

[BWVDee]

lenshanem,
You make some very valid points.
BTW, I think that stab was intended for me.
It was totally unrelated to anything but I do believe it was aimed in my direction.

 

[KNWVIKING]

Marriott would have to scrape our entire points structure in order to allow there members into system. It would be like DVC continueing to sell points at a sold out resort. DVD/DVC filed a timeshare statement with the state of Florida. Marriott cannot change the entire premise of that statement simply because they are the new owners.