Extension to 2057 for current 2042 Resorts Likely?

[cbnsoul]

I started coming to the boards several months after Disney offered the OKW extension to 2057. From what I read, it looks like there weren't a lot of OKW owners that took them up on the offer. Is the general consensus that Disney will offer the same type of extension for the other resorts that expire in 2042? I know OKW is the oldest resort but I thought they may have offered the extension to all the resorts that expire in 2042 at the same time if they were going to do it.

I am REALLY interested in adding on at VWL but losing 18 years compared to BLT, where we own, is hard to do.

 

[Deb & Bill]

We didn't extend our OKW because we won't be around to enjoy the money we would put out to do it. No brainer for me.

 

[Chuck S]

I think extending at OKW probably let Disney know that it may not be worth the hassle at the other resorts. And the legal mechanism for the extension is messy and somewhat questionable.

Remember that every owner that declines has to sign a deed and have it notatarized. In some countries, that can be very expensive, and Disney wound up reimbursing owners for that, plus they gave all owners a credit on their dues to compensate them for their time. Even a small credit at a most resorts can add up to a bundle, and if less than 50% extended, it probably wasn't too profitable.

 

[DVCAustralia]

I am not sure if this is legal without first offering the extension, but I think the most logical thing for DVC to do is what they are aleady doing on ROFR OKW contracts, extend to 2057 or 2060 and then re-sell them. It seems to have been very successful based on the volume of OKW sales direct from Disney.

 

[tjkraz]

I agree with Chuck. DVC came under some fire--justifiably--for the manner in which the extension was handled. They chose the route that would give the largest number of owners an ability to extend. But that method included some questionable legal maneuverings.

Jim Lewis went on record stating that they would go a different route if they ever offered another extension. The problem is that other methods would certainly be more costly from an administrative standpoint and timeshare sales laws would limit the body of owners who could participate.

30 years is a long time and certainly anything can happen. I think are millions to be made--during a slow quarter--by offering extensions at BWV and BCV in particular.

On the other hand, there's a lot more money to be made if Disney stands-pat and sells brand new 50-year contracts at those resorts in a few decades. No construction costs...DVC could re-write the point charts to be more BLT-ish...and prices that could easily run $200-250 per point come '42. Cha-ching!

 

[chalee94]

Is the general consensus that Disney will offer the same type of extension for the other resorts that expire in 2042?

there is no consensus on whether they will offer extensions. i tend to bet against it.

there is a consensus that if they do offer an extension, the price will seem ridiculous to most.

I know OKW is the oldest resort but I thought they may have offered the extension to all the resorts that expire in 2042 at the same time if they were going to do it.

OKW is different than resorts like BCV, VWL and BWV. OKW is a standalone resort while the others are attached to a wdw hotel. so DVC is not free to decide unilaterally how to proceed with those resorts. if the wdw hotel division decides to raze the BWI in 2042 to build a samurai-themed resort, that would kind of impact BWV as well.

 

[Pixieflip]

We own at Vero and correct me if I'm wrong, but I don't think we were offered an extension on our contract that ends in 2042.

My inlaws own at OKW and declined the extension because of their age. They will be 103 years old in 2042!! My guess is that others are in the same boat.

 

[cbnsoul]

Thansk everyone for your info. We are under 40 so it would be great to have an extension in the 2042 resorts, if not for us, for our son.

I have to rant a bit also. To the moderator that moved this thread - I posted this in "DVC Operations" and it was moved to "Mousecellaneous". This doesnt have to do with how DVC operates? Give me a break!

 

[tjkraz]

I have to rant a bit also. To the moderator that moved this thread - I posted this in "DVC Operations" and it was moved to "Mousecellaneous". This doesnt have to do with how DVC operates? Give me a break!

My guess is the thread was moved because it's a speculative discussion. Operations tends to be geared more toward here-and-now discussions rather than "what if".

Whatever the case, I wouldn't take any offense to it. It wasn't a slap on the wrist or anything--just a chosen way of keeping things consistently organized.