Not trying to get a rumor going but I do feel a little concerned...

[pharmlivin]

Been an owner since 2001...VWL. Only posted a small number of times in all these years. Not a troll or a pot stirrer by nature. That being said, I got to wondering lately if Disney is getting ready to sell off DVC. There seems to be a lot of DVC renovations going on all at once, from sprucing up to major construction projects. From Vero to Wilderness to BWV to BCV...and more. I would like someone to talk me down from this idea. I am the owner or former owner of a few other Timeshare/Vacation Clubs so I have seen the pattern before. Again, not trying to upset anyone, just got to wondering. I guess if they were in talks with anyone it would have been reported by now.

 

[Brian Noble]

Zero chance. Zero. The Mouse does not want anyone else running "his" properties.

 

[Maistre Gracey]

I don't even know how that would work.

That said, if I recall correctly, the DVC Members can vote to change the managing company. The Members can "fire" Disney. That will never happen though.

MG

 

[pharmlivin]

Feelin' better already...

 

[supersnoop]

They've already sold it off; sort of. DVD, who built the properties and sold them, is a separate company. DVC, who manages the properties and owners association, is a separate company.

Frankly, there's nothing to sell. We members own the buildings. We pay for the management. What else is there?

 

[Maistre Gracey]

They've already sold it off; sort of. DVD, who built the properties and sold them, is a separate company. DVC, who manages the properties and owners association, is a separate company.

Frankly, there's nothing to sell. We members own the buildings. We pay for the management. What else is there?

DVD, DVC.... It's all Disney.

The Members don't technically own the buildings I don't believe.

MG

 

[KAT4DISNEY]

DVD, DVC.... It's all Disney.

The Members don't technically own the buildings I don't believe.

MG

Yes, the way DVC is set up it's a real estate interest and that real estate interest is just represented by points. What we don't own is the land - it is leased from Disney and that lease ends at the corresponding resort expiration. At that time our ownership all reverts to DVD (or maybe it's directly to Disney).

 

[supersnoop]

DVD, DVC.... It's all Disney.

The Members don't technically own the buildings I don't believe.

MG

Legally, yes, the members own the buildings. Each deed is "X.XX% of unit 123A."

Disney owns the land. DVD holds the 50-year lease. DVC is the agreement between the individual resorts. DVCMC is nothing more than a management company that coordinates booking. Disney has enough control to appoint the board of directors for each individual resort's condo association and the DVC board of directors.

 

[Maistre Gracey]

Legally, yes, the members own the buildings. Each deed is "X.XX% of unit 123A."

Disney owns the land. DVD holds the 50-year lease. DVC is the agreement between the individual resorts. DVCMC is nothing more than a management company that coordinates booking. Disney has enough control to appoint the board of directors for each individual resort's condo association and the DVC board of directors.

But if the Members *OWN* it, why do they have to give it back in the future?

It's not a traditional timeshare. It's a "right to use".

MG

 

[supersnoop]

But if the Members *OWN* it, why do they have to give it back in the future?

MG

Because they own the buildings, but not the land. Once their right to use the land expires (DVD's 50-year lease), everything on top of it belongs to the landowner. It's actually a very common form of real estate in Hawaii.

 

[Maistre Gracey]

Because they own the buildings, but not the land. Once their right to use the land expires (DVD's 50-year lease), everything on top of it belongs to the landowner. It's actually a very common form of real estate in Hawaii.

I'm no longer a Member. We sold a couple years back. That said, when I was a member I never believed I actually owned real estate. I am familiar with the contract wording, but was always under the assumption we owned the points, which represented xx.xx percent of 34A (or whatever).

MG

 

[supersnoop]

I'm no longer a Member. We sold a couple years back. That said, when I was a member I never believed I actually owned real estate. I am familiar with the contract wording, but was always under the assumption we owned the points, which represented xx.xx percent of 34A (or whatever).

MG

You've got that backwards. You owned the physical property, which was represented at XXX points.

 

[Maistre Gracey]

You've got that backwards. You owned the physical property, which was represented at XXX points.

Interesting.. Who knew?

At one point in history it was widely believed we owned nothing. It was widely believed that it was a RTU timeshare.

MG

 

[KAT4DISNEY]

Interesting.. Who knew?

Well, at least 2 people who answered right away.

 

[disneynutz]

My guess is that the new DVC management finally decided to do something about the condition of the rooms. Why all at the same time is questionable, almost like they want to get finished this year for some reason.

Bill

 

[DebbieB]

Existing hotel renovations come from the dues budget, so it's not Disney's money. If they didn't spend it, they would have an issue when it's audited. Wilderness Lodge is a different situation, they are renovating the hotel rooms to DVC so that they can sell more points at top dollar.

 

[disneynutz]

Existing hotel renovations come from the dues budget, so it's not Disney's money. If they didn't spend it, they would have an issue when it's audited. Wilderness Lodge is a different situation, they are renovating the hotel rooms to DVC so that they can sell more points at top dollar.

But why not before and why now?

Bill

 

[supersnoop]

But why not before and why now?

Bill

There is a defined time schedule for soft and hard good refurbishment. At the last annual meeting, they announced that they were shortening the dates by one year. Now they're bringing everything in line.

 

[DebbieB]

But why not before and why now?

Bill

I've owned BWV since 1999 and there have been other renovations. They did a renovation right after I bought. I remember they did a full renovation in 2009/2010, I was surprised when they did another one this soon.

 

[Gregowa]

From what I have observed, renovations are needed at least every 5 years when you consider the normal wear and tear the rooms get with constant non-stop use. That doesn't even take into account the abuse and damage from some occupants who are really destructive. We bought AKV when it was being built and made our 1st visit a few months after it opened. The downward spiral of wear and tear has been obvious with each visit since. In order to keep sales going for new properties, it is important to keep the units maintained on the established properties they have. it is bad for future DVC sales if current owners are complaining about the rooms looking shabby and falling apart. I think it was getting to that point with several of the resorts and members were really beginning to complaining about poor maintainace. A portion of the fees we pay each year are allocated to maintaining the standards of a "deluxe accommodation" and when people feel it is no longer meeting that standard, they complain. DVC membership is advertised as providing deluxe accommodations and this a main selling point. The cost for points is high, and no one in their right mind would spend that kind of money for something that is not being maintained to the standard promised.