Old Key West Helps Direct Sales Rise Slightly in April 2024

[maui22]

Wil Lovato has a new DVCNews article with April 2024 direct sales data.

https://dvcnews.com/dvc-program-men...elps-direct-sales-rise-slightly-in-april-2024

 

[maui22]

Other than Riviera, those numbers look really bad to me.

I hate to think how bad the numbers would be without the April 2 incentives.

https://dvcnews.com/dvc-program-men...reamlines-improves-incentives-for-spring-2024

 

[hhisc16]

OKW for the win!

 

[ehh]

Booking a CFW cabin for a whole year would take 7,843 points (or 7,819 in 2025). They sold 6,726 points in April.

They didn't even sell one cabin in April.

Total they've sold 26,211 points, just over 3 cabins (23,529pts) since sales started. Just ~360 more to go.

 

[MarkNC2Disney]

CFW. Yikes.

 

[supercarrie]

I'm not surprised at the Cabins (yikes) but am perhaps a bit surprised that the others didn't do better. These incentives are fairly strong and yet sales are fairly meh.

Riv sales actually falling in April, despite more aggressive incentives? Just curious.

I really wonder how many of these sales are new members versus add ons, too.

 

[DonkeyHoTay]

They need to offer OKW style incentives everywhere. Record sales would ensue and there would be a line of people waiting for guides.

 

[Sandisw]

They must not be thrilled with the cabins at this point....nothing was out of the world good...but my guess is the OKW incentive certainly pulled sales away from RIV.

It will be interesting to see how they take this info and mesh it with how they price PVB tower when it begins in the next few months.

 

[Cfabar1]

We see once again that the prices DVD wants to sell these units at and the prices that customers in meaningful volume are willing to pay are just not in alignment. Reducing the minimum contract purchase probably helped some, but they need stronger incentives if their desire is to sell more units (I am not convinced that is their desire by the way, it might be, but I am not sure it is).

Meanwhile the Cabins sales are absolutely terrible. I think we are likely to see them expand the offerings included in the "Palmetto trust" just to force these cabin points upon other buyers. Maybe they don't care, as they know the cabins have a strong cash following, but the sales are beyond dismal, and don't show any signs of changing.

 

[Sandisw]

We see once again that the prices DVD wants to sell these units at and the prices that customers in meaningful volume are willing to pay are just not in alignment. Reducing the minimum contract purchase probably helped some, but they need stronger incentives if their desire is to sell more units (I am not convinced that is their desire by the way, it might be, but I am not sure it is).

Meanwhile the Cabins sales are absolutely terrible. I think we are likely to see them expand the offerings included in the "Palmetto trust" just to force these cabin points upon other buyers. Maybe they don't care, as they know the cabins have a strong cash following, but the sales are beyond dismal, and don't show any signs of changing.

We shall see what happens with new incentives end of June, but I agree that I honestly don't think they have the same thought process in what sales should be than what we all have here.

The cabins remain a mystery and all I keep coming back to is that they don't want to rush sales (by making them more attractive price wise) because they don't want to get ahead of the construction timeline to have enough done.

I also agree that we will see something added in the future to the trust and that it will coordinate with the cabins...people getting the cabins and the other resorts as a home resort....but also remember, they do not ever had to declare all the cabins into DVC if they don't want to.

But, these level of sales, and the "pent up" demand that seems to be out there for PVB tower leads me to believe that we won't see strong incentives to start so DVD can see how far they can push it in terms of price....incentives can always get better if sales are not that great...but VDH and BPK showed them that the first few months can be strong when interest is there!

 

[AwfulWaffle]

They need to offer OKW style incentives everywhere

Let them offer them at CCV or AKV and see ya PVB direct.

 

[CastAStone]

I looked at this myself a week or so ago and the April sales picked up a LOT the last 2 weeks, which aligns to when contracts from the new incentives would start to be booked, so I am not ready to pull the fire alarm.

Except on CFW. Wowza. Yikes. Eeek.

 

[CastAStone]

As always thank you @wdrl for doing all of this compiling.

 

[BrianLo]

The cabins remain a mystery and all I keep coming back to is that they don't want to rush sales (by making them more attractive price wise) because they don't want to get ahead of the construction timeline to have enough done.

Though they’ve already declared 17% of them and have sold 0.9%. It is a mystery.

Other than forcing them into the DVC system. Because I think in actuality non owners will mostly book them up at 7 months. So it might just be a weird strategy to reduce their amount they have for cash booking… vaguely. Poorly.

It’s weird. We’ve yet to see this play out correctly to figure out their strategy.

 

[BrianLo]

I looked at this myself a week or so ago and the April sales picked up a LOT the last 2 weeks, which aligns to when contracts from the new incentives would start to be booked, so I am not ready to pull the fire alarm.

Except on CFW. Wowza. Yikes. Eeek.

This make sense. I kind of figured sales were going to be better than they were. Especially with how they’ve reacted with OKW. So perhaps May will actually be more rosy with a full month of incentives.

 

[CastAStone]

Though they’ve already declared 17% of them and have sold 0.9%. It is a mystery.

Other than forcing them into the DVC system. Because I think in actuality non owners will mostly book them up at 7 months. So it might just be a weird strategy to reduce their amount they have for cash booking… vaguely. Poorly.

It’s weird. We’ve yet to see this play out correctly to figure out their strategy.

I think they simply put a DVC here to take the construction debt of the replacement cabins off of their books.

That’s it, that’s the whole reason. I think.

 

[BrianLo]

I think they simply put a DVC here to take the construction debt of the replacement cabins off of their books.

That’s it, that’s the whole reason. I think.

So they are happy and want to sell them for cash rates you think? But why over declare units? They’ve declared like an absurd two-three year supply.

 

[Jack Kerouac]

The CFW numbers are bad and I would never consider buying there. But I would consider a cash stay just to experience it while it’s brand new. Like two nights max. While Disney is probably the best timeshare out there, they aren’t always maintaining resorts ahead of time. So my concern is how quickly does CFW go from modern woodsy chic to a trailer park on Disney land full of feral dogs and cats. I think the initial dues tells the story.

 

[DanCali]

Riv sales actually falling in April, despite more aggressive incentives? Just curious.

You could blame it on the taxes at VDH, or on the high dues at the cabins... But with RIV the resort is as comparable to VGF as you can get. Yet one sold like hotcakes and the other didn't.

If it looks like people don't like resale restrictions, and it sells like people don't like the resale restrictions, it must be the resale restrictions....

 

[CastAStone]

You could blame it on the taxes at VDH, or on the high dues at the cabins... But with RIV the resort is as comparable to VGF as you can get. Yet one sold like hotcakes and the other didn't.

If it looks like people don't like resale restrictions, and it sells like people don't like the resale restrictions, it must be the resale restrictions....

Riviera is selling normally for a DVC resort at this phase of its lifecycle. A decent comp in point count is AKV, which averaged just 50K points a month in 2011.

The riviera sales are bad story is just not supported by data, and never has been. In its first year of sales it sold more than CCV had in its first year. Then a pandemic happened. Then VGF 2 went on sale, and VGF sold basically at the same rate as Riviera while they were on sale together, trading which sold more quarter to quarter based on which had better incentives. Is it the best selling resort ever? No. It’s squarely in the middle though.