Grand Floridian Update

[lilpooh108]

Dear Disney,

Please start selling GFV by June so that I can have a reason to attend the DVC presentation on my upcoming cruise. My tax refund may or may not be with me.

Regards,

Person-Whose-Husband-Would-Not-Put-Us-On-The-Waitlist-For-VWL-Last-Week

 

[Mickey'sApprentice]

I think it would be reasonable for the new management to think it is necessary to increase the resale prices to make the new sales more reasonable.

Why pay $160 for GFV if you can get BWV for $60?

Sure you'll have it 20 years longer...but you don't get the extra 20 years for 20 years...and you can stay wherever you want.

 

[Brian Noble]

The only way to do that is to (A) decrease the number of current owners who are selling or (B) increase the number of prospective owners who look to buy resale.

They aren't going to go with Option B. The last thing they want is to divert people away from direct sales. The only way they can effectively go with Option A is to ramp up ROFR much more seriously than they have even recently, but that would require significant capital. As many have observed, even the current (relatively low) resale prices are quite a bit higher than DVD pays for new construction. So, while I suppose they could do it, it doesn't maximize their return on investment.

 

[Tcsj]

I spoke to our guide this week and asked him to confirm a rumour we had heard that VGF would be on sale by fall, priced over $185. His response was that he did not know sale date but it is coming, and as for price, he said don't be surprised at how high it is as BLT is now at $165 a point. Sounds high.

 

[JasonDVC]

Or...it takes time to setup the paperwork for a new class of timeshare.

This

 

[DisneyMomJen]

I talked to my Sales Guide also this week about GF since we are going on a cruise at the end of March and wanted to buy onboard if there were good incentives. She said that it most likely will not be selling by than but if it was announced when we were onboard, it would be a HUGE production. She said hopefullly soon but mentioned something about the Fall but back tracked. I also asked about the price being high and she felt that we would be surprised that it would not be. Who knows!!!

 

[Tcsj]

I talked to my Sales Guide also this week about GF since we are going on a cruise at the end of March and wanted to buy onboard if there were good incentives. She said that it most likely will not be selling by than but if it was announced when we were onboard, it would be a HUGE production. She said hopefullly soon but mentioned something about the Fall but back tracked. I also asked about the price being high and she felt that we would be surprised that it would not be. Who knows!!!

Exactly, who really knows. Our guide implied we should be prepared for a high price ($185+) as BLT is at $165 now. Could be they will come out high, and we all will say "told you so", OR....they come out low, and sales go thru the roof.....My bet is they go high....

 

[wdrl]

Or...it takes time to setup the paperwork for a new class of timeshare.

So far, none of the available regulatory information implies that the Villas at Grand Floridian will be a new class of timeshare. On January 30, 2013, the Florida Department of Business & Professional Regulation granted Disney a license for VGF. According to FDBP, VGF is a "New component site for Disney Vacation Club." Related license information from FDBP shows that VGF is labeled as a "Multi-Site Timeshare Project."

Now, does this information rule out the possibility that VFG will be a different class of timeshare within the DVC? No, not at all. But this information is not inconsistent with VGF being just another resort within the DVC as we know it.

I can think of several plausible reasons why DVD has delayed the start of sales for DVD. As I posted before, DVC Guides aboard the Disney Magic in February said DVD wants to sell more of its existing inventories before it starting selling VGF. Sometimes, the explanation offered is indeed the explanation for the situation.

 

[ironpig70]

Just looking at this from the outside as a newbie to DVC this is what I am seeing

Disney wants AKV and Aulani to sell more before they move forward which makes sense.

Buyers wanna see what GFV will sell for before they commit to DVC as it may be better than AKV or Aulani which makes sense

Its a kind of circular argument.

 

[Dean]

VGF would not be the first resort DVC had held back on to sell existing points but I don't see how that can be the entire explanation. It appears that even if they wanted to sell existing points before announcing AND to complete the entire resort in the process, they are likely past their time line to open the resort on time. That's not to say they couldn't but historically they like to be selling by around the 7 months window. So if you assume "late 2013" means mid Dec and that there is likely a 2-3 week lag min between any announcement and the start of sales, you'd figure we'd have seen a sales date announcement around 2-3 weeks ago for a late March/early April sales start. They could certainly alter their patterns and start selling later in the course and closer to opening but that doesn't seem likely. To me this means they're behind and it will open later than "late 2013". We'll see.

 

[wdwfan1]

I was just there this past week. It was built but all plywood still so that you could really see what it's going to look like. Excuse my sad construction terms!

Just returned home. The roof is partially done and looks like it (the roof) will be finished soon.

 

[luckyman_apd]

Sooooo, just a curiousity question. Lets say they start selling around August. When does booking availability open? This will be the first resort to open with online booking, so just curious how booking works for new owners and non owners of the resort. Obviously we will want to stay there at some point, as we want to try them all, but we have no plans to for the next couple of years.

 

[Sandisw]

Sooooo, just a curiousity question. Lets say they start selling around August. When does booking availability open? This will be the first resort to open with online booking, so just curious how booking works for new owners and non owners of the resort. Obviously we will want to stay there at some point, as we want to try them all, but we have no plans to for the next couple of years.

Just my thought, but I bet they won't include it in online booking until it is open for booking to all members. I'm going to guess that those that buy there will have to call to book during whatever home resort booking period they put in place once sales start. I do know that BLT was slated to open in September and booking for owners started in February--I bought points the day before just so I could book--and I believe we had a few weeks head start.

 

[texhanddoc]

You heard it here first. Grand Floridian sales will begin in late May or June and will start at a slightly LOWER price than BLT. Not sure if this is news or not.

 

[DisneyMomJen]

You heard it here first. Grand Floridian sales will begin in late May or June and will start at a slightly LOWER price than BLT. Not sure if this is news or not.

How did you hear this?

 

[Brian Noble]

will start at a slightly LOWER price than BLT.

Base, or net?

Base I doubt, but there is precedent for net.

 

[disneynutz]

Base, or net?

Base I doubt, but there is precedent for net.

If I remember correctly the prices for new resorts start off higher to take advantage of people biting at the bit to be the first to buy as a founder. After the founders are cleared out, they warn of a price increase on XX date to get buyers worried about the increase, then they offer a temporary incentive price reduction with a developer credit, gift card, or other "gift".

The slower the sales, the better the price including the incentives. BLT sales stalled and we got a 7 day cruise.

So if we all agree not to buy until we force a huge price reduction, we can save some money and go on a "free" cruise!

Bill

 

[texhanddoc]

Base, or net?

Base I doubt, but there is precedent for net.

Both, from a good source.


Edited to add... there is only a $5 discount currently on BLT points if you purchase over 100 points. My reading between the lines from what I heard was there will be a similar small discount on points for GFV but will start off and end up lower than current BLT $160/point.

 

[OKW Lover]

I understood that Disney is prevented by FL real estate law from talking about a new DVC development until certain conditions have been met.

 

[lilpooh108]

If I remember correctly the prices for new resorts start off higher to take advantage of people biting at the bit to be the first to buy as a founder. After the founders are cleared out, they warn of a price increase on XX date to get buyers worried about the increase, then they offer a temporary incentive price reduction with a developer credit, gift card, or other "gift".

The slower the sales, the better the price including the incentives. BLT sales stalled and we got a 7 day cruise.

So if we all agree not to buy until we force a huge price reduction, we can save some money and go on a "free" cruise!

Bill

Really? We bought into Aulani during the previews at DLR and the price structure that we bought in at (at the beginning) was the lowest non-cruise price available. (I had read on a TR that during the Member Cruise the offer was for an additional $2-4 off per point) It only went up from there....

I didn't follow BLT's structure and had assumed that pricing for new resorts was always cheapest during previews.

Is this not true?

Really hoping that GFV sales debuts during May/June so we can see what offers are available on the ships when we sail.