Has There Ever Been a Problem with Lack of Demand for VB Points

[mikedvcmember]

Product understanding Disney vacation club at vero beach


The very first thing on the list.


1. By purchasing a real estate interest (ownership interest) in Disney Vacation Club at Vero Beach, a condominium, you become a (here it comes listent to this) Member of the Disney Vacation Club. All ownership intersests currently expire on January 31 2042.



So i dont have anything to worry about till Jan. 31 2042 when most everyone's (excluding SSR) runs out.

I dont think Disney can sell VB because they dont own it. They will own it back on jan 31 2042.

Just some info......I am getting married in march and called on feb 1st this year for bwv rooms march 19 to april 1st and had no problem getting them. i have been to disney with DVC 4 times now at all diffrent tims of the year and never have had a problem getting a room. With SSR opening soon it just make it all the more easy to get a room.


I have never been to VB nor do i plan on going there. So i must have been lied too also into buying there.


The only thing in the contract that seems alittle iffy is Item number 11 wehre is says "You may Currently use your Vacation points at more then 300 deluxe resorts... well that seems to me that at this time you can but we are not certian about the future of that.


what they do make clear is that till the year 2042 and i will be 65 and living in florida then is that i will be a dvc memeber and as long as i am a dvc member i can use my points at any dvc resort

 

[Dean]

Originally posted by mikedvcmember
Product understanding Disney vacation club at vero beach


The very first thing on the list.


1. By purchasing a real estate interest (ownership interest) in Disney Vacation Club at Vero Beach, a condominium, you become a (here it comes listent to this) Member of the Disney Vacation Club. All ownership intersests currently expire on January 31 2042.



So i dont have anything to worry about till Jan. 31 2042 when most everyone's (excluding SSR) runs out.

I dont think Disney can sell VB because they dont own it. They will own it back on jan 31 2042.

Just some info......I am getting married in march and called on feb 1st this year for bwv rooms march 19 to april 1st and had no problem getting them. i have been to disney with DVC 4 times now at all diffrent tims of the year and never have had a problem getting a room. With SSR opening soon it just make it all the more easy to get a room.


I have never been to VB nor do i plan on going there. So i must have been lied too also into buying there.


The only thing in the contract that seems alittle iffy is Item number 11 wehre is says "You may Currently use your Vacation points at more then 300 deluxe resorts... well that seems to me that at this time you can but we are not certian about the future of that.


what they do make clear is that till the year 2042 and i will be 65 and living in florida then is that i will be a dvc memeber and as long as i am a dvc member i can use my points at any dvc resort

There are situations where VB would cease to be a member of the DVC, so it is not a guaranteed item to be a member of DVC until 2042. But is is unlikely anything would change unless VB were hit by a natural disaster. Disney can't sell what they don't own but they could sell out the management contract and their unsold inventory.

 

[mikedvcmember]

Where is that stated? I am reading this over for a second time and dont see where they can opt out.


I just feel used... Alot of people on here are saying that then can just sell the resort and I dont understand how they can. I think they would have to pay all the dvc owners at the resort.


I get kinda pissed because i was going to buy into another resort and the dvc lady that sold me this told me about all the money i could save by buying into VB. Well i didnt save money I put the money i would have saved into points.



Also is it true that VB is paying more then wdw villa's in Dues?

 

[sgtdisney]

The members do not own the actual land or the facilities, but they own a right to use those facilities or land. You own a certain amount of points which entitles you to a room(s) in your home resort. As has been discussed here a lot recently, while it is highly unlikely, Disney (or another owner if it were to happen) would have every legal right to sell the property and the buildings to anyone. Whoever bought the property would legally have to allow all members of that resort complete access, persuant to their contacts, based on the points on each contract. As others have pointed out as well, this could potentially apply to any DVC resort, it isn't specific to VB or HHI. People are simply speculating that if Disney (or another owner) were to sell off resorts it would be ever so slightly more plausable for Disney to jettison the resorts that aren't on the WDW resort complex.

People and investors will buy real estate that they don't have total and complete control of. For example there is something similar to this in residential real estate, it is called a life estate. My Great-Aunt and Great-Uncle owned a large home on a lake in Wisconsin in the 60s. Before my great-uncle died in the early 70s he sold the home with a life estate which meant that as long as my great aunt was alive she was legally entitled to live in the property. My great aunt lived to be 98, so you can imagine that the original purchasers of the life estate got antsy and the property was sold three times before she passed away and that final owner took ownership the property.

 

[mikedvcmember]

My point is, I was sold that time share being told that I can use any of the resorts in the DVC program. It is stated as I posted before on line 1 that not only do I get a real estate interest in VB but also become a member of the dvc. If they sold VB they would be breaking there contract.



1. By purchasing a real estate interest (ownership interest) in Disney Vacation Club at Vero Beach, a condominium, you become a (here it comes listent to this) Member of the Disney Vacation Club. All ownership intersests currently expire on January 31 2042.


And that expires on january 31st 2042. Meaning the whole statement THEY have written. They cant just say well sorry we sold VB your out of luck we are kicking you out of the DVC. That would be one big law suit.

 

[Dean]

Originally posted by mikedvcmember
Where is that stated? I am reading this over for a second time and dont see where they can opt out.


I just feel used... Alot of people on here are saying that then can just sell the resort and I dont understand how they can. I think they would have to pay all the dvc owners at the resort.


I get kinda pissed because i was going to buy into another resort and the dvc lady that sold me this told me about all the money i could save by buying into VB. Well i didnt save money I put the money i would have saved into points.



Also is it true that VB is paying more then wdw villa's in Dues?

I don't know where it is off hand but there is a list of ways in the POS for the resort to cease to be in the DVC. It includes things like natural disasters where the resort is unavailable or not rebuilt and it also includes if the DVC members vote DVC out. But if you read the POS, there is nothing guaranteeing DVC will continue to be the management company. In timeshare circles, management companies sometimes come and go. I think it was Blue Tree in Orlando that had essentially a hostile takeover by Westgate. Marriott has dropped 5 resorts in the last 3 years. There is nothing requiring DVC to continue to manage any of the resorts though I think most everyone would feel it's very unlikely for anything to change. BUT if it did, the off site resorts would be the ones at most risk. While I don't feel it's fair to sell one on VB with the intention of staying at WDW, overall it should still work well for most. At least as long as you don't want a truly high demand reservation at WDW.

The dues are higher for ALMOST everyone who owns at VB compared to the on site options. I think you can just enjoy your ownership. VB is a great resort overall. Don't worry too much about what might but likely never will happen.

 

[Dean]

Originally posted by mikedvcmember
My point is, I was sold that time share being told that I can use any of the resorts in the DVC program. It is stated as I posted before on line 1 that not only do I get a real estate interest in VB but also become a member of the dvc. If they sold VB they would be breaking there contract.



1. By purchasing a real estate interest (ownership interest) in Disney Vacation Club at Vero Beach, a condominium, you become a (here it comes listent to this) Member of the Disney Vacation Club. All ownership intersests currently expire on January 31 2042.


And that expires on january 31st 2042. Meaning the whole statement THEY have written. They cant just say well sorry we sold VB your out of luck we are kicking you out of the DVC. That would be one big law suit.

Legal action is a possibility in anything. Still, there are situations where any and all of the DVC resorts could be split off. That is a reality though very unlikely. One thing for certain in timeshare sales, what they told you has NO meaning and is not enforceable. You even signed paperwork to that effect.

 

[Desperado]

Originally posted by Dean
I don't know where it is off hand but there is a list of ways in the POS for the resort to cease to be in the DVC. It includes things like natural disasters where the resort is unavailable or not rebuilt and it also includes if the DVC members vote DVC out. But if you read the POS, there is nothing guaranteeing DVC will continue to be the management company. In timeshare circles, management companies sometimes come and go. I think it was Blue Tree in Orlando that had essentially a hostile takeover by Westgate. Marriott has dropped 5 resorts in the last 3 years. There is nothing requiring DVC to continue to manage any of the resorts though I think most everyone would feel it's very unlikely for anything to change. BUT if it did, the off site resorts would be the ones at most risk. While I don't feel it's fair to sell one on VB with the intention of staying at WDW, overall it should still work well for most. At least as long as you don't want a truly high demand reservation at WDW.

The dues are higher for ALMOST everyone who owns at VB compared to the on site options. I think you can just enjoy your ownership. VB is a great resort overall. Don't worry too much about what might but likely never will happen.

Thanks for the perspective. I agree, I don't think selling somone VB to stay at WDW the majority of the time is fair either. I believe dues are higher at an ocean front resort, especially as often as the beach stairs and walkway get washed away. It's a great resort.

 

[Dean]

Originally posted by Desperado
Thanks for the perspective. I agree, I don't think selling somone VB to stay at WDW the majority of the time is fair either. I believe dues are higher at an ocean front resort, especially as often as the beach stairs and walkway get washed away. It's a great resort.

My dues at Marriott's Grande Ocean resort, ocean front in HH, are $715 for a week in a 2 BR.

 

[Desperado]

There is a thread stating that VB is being sold to Marriott on sept 04 at
http://disboards.com/showthread.php?s=&threadid=517808
Please note, this is the poster's first post. Anyone else aware of this or more importantly have any source for a definitive statement like this?

 

[crisi]

Companies sell profitable business all the time. I was involved in selling the very profitable Alpo Petfoods business when I worked for Pillsbury. We decided pet food didn't fit into our portfolio any more and that we'd make more money owning something else that was a better fit and we could leverage the advertising/distribution/branding better. We also sold the restaurant business Disney could decide that offsite inventory doesn't fit into their portfolio and is more difficult to manage. They could decide timeshare operations don't fit in their portfolio and sell all of DVC. They could decide hotels don't fit into their portfolio and sell off DVC as well as their other onsite properties "Disney's Polynesian Resort - A Marriott Property." Its far easier to sell something that makes money than something that is losing it - and the cash from the sale makes a big impact on a bottom line.


We own a deeded lease. If I lease an apartment, the owner can sell the building I am in. The new owner is obligated by the existing leases. The new owner is not obligated to do things not covered in the lease - if the old owner was always nice enough to feed my cat while I took vacation, the new owner down't need to do the same - booking your home resort is covered in our lease - booking other DVC properties isn't.