OKW question

[Dhanna22]

What will happen after 2042 as far as staying at OKW using other points? Will I continue to be able to use my SSR points at OKW from 2043 thru 2054 or will the Mouse make a change and limit who can book at OKW to only those who own 2057 extended contracts?

I don't recall ever seeing this discussed, but I wrong about a lot of things. Just ask my wife...

I could see DVC possibly tearing down part of the OKW resort for redevelopment while keeping part of it open for the 2057 owners...or am I overthinking this?

 

[Genie+]

Nobody’s sure exactly what’s going to happen, I just know that when those 2042 points expire, that inventory will no longer be available to book via home resort or 7 month trading. However, the 2057 inventory will remain for owners to book.

When January 2042 rolls around, who knows what percent of contracts will be 2042 vs 2057. But say only 25% of the resort’s total points are 2042 and expire, then 75% of the inventory would still remain active in DVC until 2057.

The big question is what will DVC/DVD decide to do with the 2042 inventory after those contracts expire. They could sell those rooms for cash, they could knock down a few buildings, they could sell new contracts, enter the points into a trust model, etc.

 

[Dhanna22]

My sense is that only 10 to 20% of OKW contracts are 2057's.
Does anybody know for sure what the split is between 2042's and 2057's at OKW?

 

[The Jackal]

OKW is at least 30% 2057. Yes you should be able to use SSR points at OKW.
While we have to wait and see how DVC handles it, DVD extended all points to 2057. There will be lawyers involved for sure. But at least for now 30% is extended by members and one would have to assume that about a certain % of every building is extended.

 

[Genie+]

Hard to say what percent 2042 vs 2057 is out there today.

A resale aggregator shows currently listed contracts as 82 being 2042, and 6 being 2057. That’s not necessarily going to be the same ratio as what is currently owned but it is a good indicator that there’s alot more 2042 out there than 2057. And whatever ratio exists today will likely change by the time 2041/2042 rolls around.

 

[Wedgeout]

You will still have the same booking options. We own direct 2057 points. I attempted to plant the seed about that, at the recent board meeting. Knowing the board make up will no doubt be different & was nice that the current resort manager was there too.

I asked (since they no longer mount family photos..to clear the walls of them. Start a fresh photo wall of owners to 2057. (I would like to have my photo up lol).

 

[Sandisw]

Nobody’s sure exactly what’s going to happen, I just know that when those 2042 points expire, that inventory will no longer be available to book via home resort or 7 month trading. However, the 2057 inventory will remain for owners to book.

When January 2042 rolls around, who knows what percent of contracts will be 2042 vs 2057. But say only 25% of the resort’s total points are 2042 and expire, then 75% of the inventory would still remain active in DVC until 2057.

The big question is what will DVC/DVD decide to do with the 2042 inventory after those contracts expire. They could sell those rooms for cash, they could knock down a few buildings, they could sell new contracts, enter the points into a trust model, etc.

Actually, I don’t think that is accurate. The points that expire in 2042 revert back to DVD.

But the inventory will remain in the system. The only way they can tear down buildings is to have those with 2057 deeds sign now ones for units in the other buildings so that all their points are deeded to a single unit, and then that unit can be removed.

But even then I am not 100% sure that can happen.

Now, because DVD will have points, then can use them at 11 months like the rest of 2057 owners do in essence those can be used for cash for whatever they want.

They can also leave them there and use those points at the 7 month mark to take rooms at other resorts….so there is a lot of options.

 

[The Jackal]

Actually, I don’t think that is accurate. The points that expire in 2042 revert back to DVD.

But the inventory will remain in the system. The only way they can tear down buildings is to have those with 2057 deeds sign now ones for units in the other buildings so that all their points are deeded to a single unit, and then that unit can be removed.

But even then I am not 100% sure that can happen.

Now, because DVD will have points, then can use them at 11 months like the rest of 2057 owners do in essence those can be used for cash for whatever they want.

They can also leave them there and use those points at the 7 month mark to take rooms at other resorts….so there is a lot of options.

The issue is the way it was extended to 2057. DVD extended all points, they decided contacted owners and tried to collect an extension fee. It is unclear right now how it is going to go with original owners who retain their points to 2042. From what I read about it in the past their will most likely be a law suit, but at least the entire resort is available to book til 2057. We own an extended 2057 contract.

 

[Wedgeout]

Either way it will be exciting. I don’t see them (lawsuits aside…& figure those would be filed before 2042), allowing the expiring members to continue paying dues & stay till 2057, unless they do & refund those that paid for the extension.

 

[Sandisw]

The issue is the way it was extended to 2057. DVD extended all points, they decided contacted owners and tried to collect an extension fee. It is unclear right now how it is going to go with original owners who retain their points to 2042. From what I read about it in the past their will most likely be a law suit, but at least the entire resort is available to book til 2057. We own an extended 2057 contract.

Correct…the entire resort remains part of the system. They can’t undeclare any units as long as there are owners with 2057 contracts deeded there

There is now language in the multi site POS that discusses this and it mentions that contracts revert back to DVD if they did not choose to extend.

So, we at least know where DVD stands on it. My post was more about the rooms and that other than blocking rooms at 11 months based on points they own, the entire resort was extended to 2057.

 

[muppets3d]

So on Feb 1 2042 when all the 2042 points revert to DVC, all they will be able to do is use those points to rent for cash at OKW (or at all other resorts at 7 months), sell them as 2057 points (flash sale?), or sell those points to owners as OTUP. I can't think of any other options they may have.

I wonder if there is a building (or buildings) with points that all reverted in 2042, could DVC disassociate those units and tear down those buildings and build something new, like a PIT-style tower? Or do those buildings and units still belong to the association because the entire resort was extended to 2057?

 

[Sandisw]

So on Feb 1 2042 when all the 2042 points revert to DVC, all they will be able to do is use those points to rent for cash at OKW (or at all other resorts at 7 months), sell them as 2057 points (flash sale?), or sell those points to owners as OTUP. I can't think of any other options they may have.

I wonder if there is a building (or buildings) with points that all reverted in 2042, could DVC disassociate those units and tear down those buildings and build something new, like a PIT-style tower? Or do those buildings and units still belong to the association because the entire resort was extended to 2057?

Another option would be to allow owners with restricted points to trade their points and pay a fee for a one time stay at 7 months within the system.

For example, I can trade my restricted RIV points and pay a one time reservation fee to stay elsewhere?

I’d be surprised to see any unit that doesn’t have at least some owners since DVD sells it that way.

But, if they can get owners to sign new deeds for new units, then they might be able to move inventory out and into something like the trust association ? That’s one thing I do not know.

Now, DVD can shutter buildings if they want and keep them vacant because owners can be put in any unit for stays.

ETA: based on a quick review, I don’t think it would be easy to remove declared units from the condo association.

 

[Wedgeout]

They could clear out Millers road, buildings 17-22 & I’d still be happy with the resort layout. Less to maintain. Most of all the maintenance buildings & cast area is up in that corner anyway.

 

[bookbabe626]

They could clear out Millers road, buildings 17-22 & I’d still be happy with the resort layout. Less to maintain. Most of all the maintenance buildings & cast area is up in that corner anyway.

LOL. That’s our favorite section, we’d be hugely disappointed.

 

[Wedgeout]

LOL. That’s our favorite section, we’d be hugely disappointed.

Oops sorry…keep it all !!!

 

[The Jackal]

They could clear out Millers road, buildings 17-22 & I’d still be happy with the resort layout. Less to maintain. Most of all the maintenance buildings & cast area is up in that corner anyway.

They can’t get rid of any buildings from the resort. With about 30% of the points extended odds are every building has some points that are extended. That is unless DVD adds it into the POS allowing them to remove buildings.

 

[Wedgeout]

They can’t get rid of any buildings from the resort. With about 30% of the points extended odds are every building has some points that are extended.

All about the odds. It’s all uncharted territory. What’s to say they just don’t amend the deeds/unit info, condensing points to one area, taking away units & scrapping them. Plenty of time before the future 2042 is reality.