First Riviera ROFR

[Mouseforward]

It's an amazing tool if you understand this and use it knowing that

Correct, it’s this generation‘s “ don’t trust the Internet” knee-jerk response. There’s a right and a wrong way to use each tool.

The difference is the speed at which it is changing the workplace. I feel like we had plenty of time for everyone to get comfortable with the Internet, email, etc.. but now if you’re not spending the majority of your continuing education time on AI, you are making yourself a dinosaur in my industry and just like dinosaur the ride, you won’t be here long.

 

[Cfabar1]

The gripe is that DVC was never supposed to be most timeshares. It was supposed to be different. More guest friendly. That’s clearly no longer the strategy. The current leadership is fully in the “this is just a plain ole timeshare” boat now. Because of the addiction to financing all hotel construction through it.

I actually think that has more to do with the fact that Disney can't figure out how to sell cash rooms anymore. They have so reduced the compelling nature of Disney Deluxe resorts that they are stuck moving to a timeshare product.

 

[Mouseforward]

They have so reduced the compelling nature of Disney Deluxe resorts that they are stuck moving to a timeshare product.

This is why a lot of people are shocked that they got rid of the early hours in Disneyland. Talk about removing a compelling feature of a Disney deluxe resort.

I always found interesting that universal chose to farm out the hotel business to Lowe’s

 

[Cfabar1]

I always found interesting that universal chose to farm out the hotel business to Lowe’s

That was Disney's plan prior to Michael Eisner... He was too much of a control freak to let them do it and it was resolved through some pretty nasty litigation with Tishman that resulted in the Swan & Dolphin...

Early Hours are a potential perk, but I think particularly at WDW it has more to do with the notion that 1990s amenities aren't what modern audiences are looking for today. And Disney isn't willing to reinvest in the hard product enough to offer something compelling. They likely have run the numbers and find the ROI isn't there. They're also stuck with a strong fan community... Take the contemporary resort... In my view, the main building should be demolished... It is dated, ugly, and hardly revolutionary anymore... But just imagine what would happen if Josh D'Amaro got up there and said they were tearing that thing down to build the new Disney's Frozen Resort in its place!

 

[Mouseforward]

That was Disney's plan prior to Michael Eisner... He was too much of a control freak to let them do it and it was resolved through some pretty nasty litigation with Tishman that resulted in the Swan & Dolphin...

Early Hours are a potential perk, but I think particularly at WDW it has more to do with the notion that 1990s amenities aren't what modern audiences are looking for today. And Disney isn't willing to reinvest in the hard product enough to offer something compelling. They likely have run the numbers and find the ROI isn't there. They're also stuck with a strong fan community... Take the contemporary resort... In my view, the main building should be demolished... It is dated, ugly, and hardly revolutionary anymore... But just imagine what would happen if Josh D'Amaro got up there and said they were tearing that thing down to build the new Disney's Frozen Resort in its place!

I always thought the theme was airline terminal….. and contemporary does a great job of looking feeling and sounding like one.

I do have to say that Bay Lake Tower is probably the only DVC that’s better than the base resort.

 

[Carouselofplanning]

I always thought the theme was airline terminal….. and contemporary does a great job of looking feeling and sounding like one.

I do have to say that Bay Lake Tower is probably the only DVC that’s better than the base resort.

Not to mention the room decor. BLT decor is so much nicer than Incredibles decals.

 

[Brian Noble]

I actually think that has more to do with the fact that Disney can't figure out how to sell cash rooms anymore.

From the most recent quarterly earnings report, they noted higher room occupancy in domestic resorts as one of the drivers of YoY growth. The 10Q lists domestic occupancy at 88%, vs. 83% the quarter in 2024. And that wasn't just by discounting, because the per-room guest spending was also up 2% (that's a little low relative to inflation though.)

Lakeshore is the first new build of cash rooms they've done since Gran Destino---and that was mostly in support of their convention business. The most recent one before that was AoA, and the bones of that were built prior to 9/11. I'm as surprised as anyone that they are adding cash room inventory after taking out several floors of AKL, an entire wing of WL, a neighborhood at CBR, and the North Garden wing at CR. But they are---and that indicates to me they feel at least reasonably optimistic about their hotel business.

 

[Brian Noble]

(Not to mention shuttering the Disney Institute and turning it into SSR.)

 

[Carouselofplanning]

(Not to mention shuttering the Disney Institute and turning it into SSR.)

The crown jewel baby! Love that place.

 

[Brian Noble]

that indicates to me they feel at least reasonably optimistic about their hotel business.

The other possibility is that the executives who lived through 9/11 and the Great Recession are mostly gone, and so the lessons learned during those events were forgotten. They shuttered entire resorts during those periods, and at one point were offering a buy-four-get-three-free deal on resort packages.