Extending Contracts?

[amscherm]

Am I understanding it correctly that Disney extended SSR by 15 years or added another 15 year contract that you could buy? Do you think they will do that with other resorts?

If they were to do this then buying re-sale would be the best way for us to go.... but I guess there is no guarentee... right?

 

[chalee94]

Am I understanding it correctly that Disney extended SSR by 15 years or added another 15 year contract that you could buy? Do you think they will do that with other resorts?

OKW was extended by 15 years. but OKW is a standalone resort, meaning that it is not connected to a hotel like BWV, BCV or VWL. extending one of those resorts would be a whole different ballgame. i wouldn't bet on it, but some posters think it's a possibility.

there have been several threads on this if you want to search for them...

If they were to do this then buying re-sale would be the best way for us to go.... but I guess there is no guarentee... right?

right. no guarantee at this point.

 

[amscherm]

OKW was extended by 15 years. but OKW is a standalone resort, meaning that it is not connected to a hotel like BWV, BCV or VWL. extending one of those resorts would be a whole different ballgame. i wouldn't bet on it, but some posters think it's a possibility.

there have been several threads on this if you want to search for them...



right. no guarantee at this point.

Can you explain what Stand alone resort means? Sorry I am new to all this... Thanks!!!

 

[chalee94]

OKW is a standalone resort, meaning that it is not connected to a hotel like BWV, BCV or VWL. extending one of those resorts would be a whole different ballgame.

extending a hotel-connected resort like BWV for another 15 years requires that disney also commit to not making any major changes at BWI for the same period. a lot depends on whether a fresh brand-new resort would be more profitable than continuing to renovate what is already there.

DVC would presumably be more free to extend a resort like OKW because the hotel division is not involved in the decision.

which is not to say that extending one of the hotel DVC resorts is impossible and will never happen. but it is a different matter than extending OKW (or eventually SSR)...

 

[Cmbar]

Charles, Do you know what it cost to extend at OKW? I don't have any idea of what kind of cost it would be to choose to extend a contract.

When we spoke to our guide over the weekend he said he thought DVC would be extending the option to extend on some of the older properties. We are really struggling to decide whether to buy directly with Disney or go resale.

 

[erionm]

Charles, Do you know what it cost to extend at OKW? I don't have any idea of what kind of cost it would be to choose to extend a contract.

When we spoke to our guide over the weekend he said he thought DVC would be extending the option to extend on some of the older properties. We are really struggling to decide whether to buy directly with Disney or go resale.

$25 per point. They offered a reduced price for a while.

 

[chalee94]

Charles, Do you know what it cost to extend at OKW? I don't have any idea of what kind of cost it would be to choose to extend a contract.

OKW was technically $25 per pt in order to receive an extra 15 years of pts in the future starting in 2042. there was initially a $10 credit which reduced the cost to $15 per pt...and after that deadline passed, they still gave a $5 credit to make the cost $20 per pt.

for many of us, that was an awful lot of money for a promise of pts 35 years down the road...

When we spoke to our guide over the weekend he said he thought DVC would be extending the option to extend on some of the older properties. We are really struggling to decide whether to buy directly with Disney or go resale.

maybe. it could happen. but it's not as simple as "OKW extended their contracts last year, so i bet the other DVCs will offer an extension soon..."

in general, i doubt the guides know more than the bus drivers as far as DVC gossip goes. when the GCV information came out a couple of weeks ago, it seemed like the guides were pretty in the dark.

if the extra years are critical, i'd buy at a newer resort. if you want to stay primarily at BCV or VWL (and you can book 10-11 months out), then you really ought to buy there and only start to worry about extensions if there's no news by 2035 or so...