NEW VGF Building

[mustinjourney]

Okay, well now I can reread some of those old threads with a new perspective. Thank you.

yeah -- I really hate all the POS and MFs.

 

[RoseGold]

Unless they’re force-fitting these new rooms into the two existing categories, they will need to put our a new points chart, right?

I mean the hotly debated 2022 chart, which may or may not be in final form. If they crank up the studio points, and assuming VGF2 uses some of the existing categories, the whole new building is worth more points.

The quintupling of the number of studios will change that pretty sharply. It will have more studios than Old Key West. It will have (significantly) more than both Wilderness Lodge resorts combined. It will have nearly as many as Animal Kingdom. Availability to non-owners likely won’t be anywhere near as big of an issue as it is now. Any old schmo with Saratoga Springs points should be able to get a room most of the time. So yeah, I expect the long-term Resale value of Grand Floridian to drop.

At about 1.5M points, it will double the size of the resort! But, Disney is going to sell this thing HIGH. This is a cash grab, after all. I expect this to be good for my contracts, which I need to hold for about 10 years.

I'm looking forward to this. I couldn't get a Halloween studio at 9 months. As an owner, it would be pretty cool to be able to book a VGF studio at 9-10 months easily. Heck, I even look forward to the theme park view.

 

[mustinjourney]

curious if this was one of the buildings that the NBA players used last year...and if so -- I believe Disney already made some slight modifications to the rooms for the NBA as far as furnishings (CA king beds I think). If so -- then Disney was already going to have to change all that out again anyways, so by switching this over to DVC, they are able to get the DVC entity to fund this conversion back to normal...plus increase hotel capacity at the same time. A true win/win for them. I do wonder if this is going to mean more people at the pools since I'm assuming DVC members might use the pools more than hotel guests.

 

[JETSDAD]

I was originally thinking the same as you -- but based on the fact that they're doing this refurb so quickly (12 months)...I'm guessing they won't be doing the same bathroom and kitchenette layout as the current deluxe studios have. So if it is more like VB and AUL, then the points will be less...which would be ideal for freeing up room availability across all categories in the original VGF.

If they keep 2 real queen beds plus a 5th sleeper with the larger square footage (I don't think the hotel rooms at AUL and VB are larger than the DVC rooms), then I think they will be more points. I'd pay more points for that over having a kitchenette. Just throw a bit of lipstick on it and you're selling hotel rooms as DVC. I doubt they're looking at adding 200 rooms and having them be cheaper.

 

[RoseGold]

If it’s the same association, then it’s the same dues. They would be hard pressed legally to charge the same dues for disparate treatment.

If it’s the same dues, it must be the same treatment.

OKW charges the same dues for those who extended and those who didn't.

 

[KAT4DISNEY]

OKW charges the same dues for those who extended and those who didn't.

The extension is quite different than something like resale restrictions on half a resort.

 

[RoseGold]

The extension is quite different than something like resale restrictions on half a resort.

I'd argue the extension is a more convincing argument for discounting dues. Why should I pay to replace the roof when my contract expires next year and I never agreed to any of this extension mess in the first place?

 

[mustinjourney]

If they keep 2 real queen beds plus a 5th sleeper with the larger square footage (I don't think the hotel rooms at AUL and VB are larger than the DVC rooms), then I think they will be more points. I'd pay more points for that over having a kitchenette. Just throw a bit of lipstick on it and you're selling hotel rooms as DVC. I doubt they're looking at adding 200 rooms and having them be cheaper.

having a separate dedicated shower (AND A TV IN THE MIRROR!!!) will likely keep the deluxe studios at higher points. The rooms may be larger -- but they don't appear to use it very well right now such that you get much out of the extra space.

ETA -- I believe the deluxe studios are more expensive on the cash side as compared to the hotel rooms, so that would also make me think the point charts will be less.

 

[KAT4DISNEY]

I'd argue the extension is a more convincing argument for discounting dues. Why should I pay to replace the roof when my contract expires next year and I never agreed to any of this extension mess in the first place?

It will be a question about dues for cap expenditures when it gets close to that time but it's not there yet. Really it's a question for all of DVC. Will they time Capital improvements to be end of life in timing with the contracts? Probably not.

 

[DVC Doctor]

At 1.5m points x $200pp, that is a $300 million in sales plus $12 million a year in annual dues ($480 million over 40 years) for something that will expire in 40 years, this is a huge win for Disney

 

[Bjaiken77]

Another question to discuss...refurbishments at VGF. Currently, VGF1 is slated for a soft good refresh this year. A full refurb is 7-8 years away. With a VGF2 coming on board, I assume it's going to have a separate refurb schedule?

I spent a night in VGF 1BR LV a little over a month ago. Let me tell you - those rooms were in rough shape. They are in need of a refurb and DVC needs to chase down the people causing damage. The big table in the living room had a stain on it and all the cabinets were dinged to pieces. The room just felt old and not cared for. That’s just one night and one experience, but that’s how I felt.

 

[KAT4DISNEY]

I spent a night in VGF 1BR LV a little over a month ago. Let me tell you - those rooms were in rough shape. They are in need of a refurb and DVC needs to chase down the people causing damage. The big table in the living room had a stain on it and all the cabinets were dinged to pieces. The room just felt old and not cared for. That’s just one night and one experience, but that’s how I felt.

That stuff happens to various rooms. Someone will probably follow with a report that their 1BR was pristine.

 

[stwaldman]

I spent a night in VGF 1BR LV a little over a month ago. Let me tell you - those rooms were in rough shape. They are in need of a refurb and DVC needs to chase down the people causing damage. The big table in the living room had a stain on it and all the cabinets were dinged to pieces. The room just felt old and not cared for. That’s just one night and one experience, but that’s how I felt.

Interesting, we were in a standard studio in April and the room was in great shape (although definitely not "fresh"). Makes sense the kitchens are taking a bigger beating though, studios are there for sleeping and the balcony really.

 

[Sheldon C.]

Okay since it is in the same association now it comes down to just being a shorter contract length still. I guess it makes sense that if they are doing a conversion do it now and get it done with especially with resale prices of VGF.

Question is how this impacts resale prices now?

The current resale on DVC Market has 100pt contract @ $214/pt. Thats up from what I've seen by about $20-30/pt. I would anticipate this will inflate higher based off of FOMO, but then will settle down.

Whats Riviera direct? $190/pt?
I think Paul even addressed this in his video on DVC Fan that this addition will be used as possible technique to boost Direct Riviera sales?

I wonder if they will offer current GF owners first opportunity to add or will they go straight to the wait list to maximize price per point?

 

[KAT4DISNEY]

I'm trying to guess if DVC is just being sloppy in their wording with "Resort studio" or if it does mean a different category which will be more like keeping the 2 queens plus a single murphy bed. I'm starting to lean the direction that's what they're going to try but then I hope they change the name from Resort studio as it's a bit too similar for what would be a very different accommodation.

If they do refurb to be like the existing studios then I'm expecting it will just be a request for what building you are in like it is with PVB. I think the new building will be popular too so requests shouldn't be too difficult to have met for a building. And apparently if you book a 1 or 2BR or a GV you'll definitely know the building.

 

[stwaldman]

I'm trying to guess if DVC is just being sloppy in their wording with "Resort studio" or if it does mean a different category which will be more like keeping the 2 queens plus a single murphy bed. I'm starting to lean the direction that's what they're going to try but then I hope they change the name from Resort studio as it's a bit too similar for what would be a very different accommodation.

If they do refurb to be like the existing studios then I'm expecting it will just be a request for what building you are in like it is with PVB. I think the new building will be popular too so requests shouldn't be too difficult to have met for a building. And apparently if you book a 1 or 2BR or a GV you'll definitely know the building.

Capitalized "Resort Studios" makes it seem intentional, not sloppy. Or they need a copy editor...

 

[RoseGold]

At 1.5m points x $200pp, that is a $300 million in sales plus $12 million a year in annual dues ($480 million over 40 years) for something that will expire in 40 years, this is a huge win for Disney

Current direct is 255, and people were buying it. Let's go to 275, discounts like usual. That's 400M in sales. Play with the charts to get to 1.7M and this is 450M.

And if you're too cheap to do it right, we have these other points hanging around over here at RIV.

 

[Bjaiken77]

Interesting, we were in a standard studio in April and the room was in great shape (although definitely not "fresh"). Makes sense the kitchens are taking a bigger beating though, studios are there for sleeping and the balcony really.

I think it also has something to do with the Victorian theme. When I looked at the old SSR rooms before the refurb, they looked super old too. Victorian theming just makes something that is showing age feel older to me.

 

[stwaldman]

Current direct is 255, and people were buying it. Let's go to 275, discounts like usual. That's 400M in sales. Play with the charts to get to 1.7M and this is 450M.

Yes but we're people buying at that price in large enough quantities to burn through 1.7M points? Especially considering it will be known the addition is studios, so you don't need a 300 pt contract for a stay in a high season. Who knows, obviously some new buyers won't be well versed in the resort room structure.

 

[Bjaiken77]

Yes but we're people buying at that price in large enough quantities to burn through 1.7M points? Especially considering it will be known the addition is studios, so you don't need a 300 pt contract for a stay in a high season. Who knows, obviously some new buyers won't be well versed in the resort room structure.

This would be my guess initially. They may raise prices quickly, but I think they’d want to incentivize a lot of early ownership.

DVC might be the most non-static timeshare in existence. Things are always changing and moving around. It’s both exciting and makes me dizzy.