Resale Restrictions (post POLY announcement)

[drusba]

Some may guess that the new Poly building will be part of the existing Poly DVC. If it is not, it is far more likely that DVD's plan to maintain the Riviera resale restrictions for future resorts has not changed.

There are indications that the new Poly building will be its own, separate DVC resort. The fact that DVD will be going to the expense of building a whole new, very large building rather than just doing the far less expensive refurb that it did for VGF2 is one indication.

Another indication lies in the difference between the initial announcements made for adding VGF2 and adding the new Poly building. The initial VGF2 announcement specifcally referred to the addition of the studios as "an expansion of The Villas at Disney's Grand Floridian Resort and will be a part of its current condominium association." See, e.g., dvcnews.com/resorts/grand-floridian/news/5028-disney-vacation-club-to-add-villas-at-grand-floridian?utm_source=dlvr.it&utm_medium=twitter. The announcement for the the new Poly building says nothing about making it part of the existing DVC at Poly, but instead says the new building "will complement the existing resort" (referring to all of Poly not just DVC) and "would join the rest of the resort [again all of Poly] in offering stunning views of the Magic Kingdom."

 

[CaptainAmerica]

Some may guess that the new Poly building will be part of the existing Poly DVC. If it is not, it is far more likely that DVD's plan to maintain the Riviera resale restrictions for future resorts has not changed.

I don't think one has particularly much to do with the other. If PVB2 is an expansion of PVB1 and doesn't have resale restrictions, I don't think that's any kind of sign that some future new build wouldn't have them. DLT is the key to the future, not PVB2.

There are indications that the new Poly building will be its own, separate DVC resort. The fact that DVD will be going to the expense of building a whole new, very large building rather than just doing the far less expensive refurb that it did for VGF2 is one indication.

People are greatly exaggerating the cost differential here. DVD had to buy the Big Pine Key building from whichever entity owned it previously on the cash side. It's not like they got through that conversion for just the cost of some carpets and new mattresses.

Another indication lies in the difference between the initial announcements made for adding VGF2 and adding the new Poly building. The initial VGF2 announcement specifcally referred to the addition of the studios as "an expansion of The Villas at Disney's Grand Floridian Resort and will be a part of its current condominium association." See, e.g., dvcnews.com/resorts/grand-floridian/news/5028-disney-vacation-club-to-add-villas-at-grand-floridian?utm_source=dlvr.it&utm_medium=twitter.

The announcement for the the new Poly building says nothing about making it part of the existing DVC at Poly, but instead says the new building "will complement the existing resort" (referring to all of Poly not just DVC) and "would join the rest of the resort [again all of Poly] in offering stunning views of the Magic Kingdom."

The announcement seemed to me to drop contradictory clues.

Inspired by the early concepts for Disney’s Polynesian Village Resort, the Imagineers of today are honoring the past while furthering the resort story with this innovative addition. Projected to open in late 2024, the proposed vacation ownership property would complement the existing resort and evoke the spirit of the Pacific Islands.

Situated on the shores of Seven Seas Lagoon, the proposed property would join the rest of the resort in offering stunning views of the Magic Kingdom. Proposed plans would offer additional rooms, new recreation offerings and dining options. More information and project details will be shared at a later date.

Since 2015, Disney’s Polynesian Villas & Bungalows has been a favorite resort destination, offering an island paradise in the middle of the magic. Disney’s Polynesian Villas & Bungalows currently has 380 Disney Vacation Club villas, including the largest Deluxe Studios at any Disney Vacation Club resort at Walt Disney World and unique two-bedroom Bora Bora Bungalows, located over the waters of the Seven Seas Lagoon – the first of their kind at Disney.

"Proposed vacation ownership property" would seem to indicate a brand new thing a la Copper Creek. But "Disney's Polynesian Villas & Bungalows currently has 380 DVC villas" would seem to indicate an expansion of the existing PVB inventory.

 

[Helvetica]

As a Riviera owner, I hope they remove the restrictions. It's why I only bought 200 points and their removal would only cause me to buy more points. I'm sure I'm not the only one who has told their guide that the restrictions are why they either bought less or none at all.

I think it's going to depend on the sales at the Grand. If the Grand sells like hotcakes and the Riviera is having trouble selling, Disney will do what they need to do to sell more contracts. If it doesn't impact sales, they might not care one way or another.

Them building new DVC resorts without the restrictions is after my purchase is quite irritating though. My plan is to have my contract the whole 50 years, but its still annoying.

 

[BWV Dreamin]

I think if it is confirmed that this new Poly build will be part of the same condo association…I find it odd it wasn’t stated…then we will see shifts away from those and RIV will see them removed.

I bought there because I love it but won’t complain if they are changed

What did I miss? Is there going to be a Poly2?

 

[Marionnette]

RIV is selling with the restrictions, so I'm not sure what would motivate DVD to change course.

But would it sell better without them? Obviously, we will never know for certain but one does have to wonder.

 

[TinkB278]

But would it sell better without them? Obviously, we will never know for certain but one does have to wonder.

I think it definitely would. I also own there and want to add on more points but feel too nervous putting all my eggs in one basket with the resale restrictions so am considering vgf2 or now, poly2.

 

[Marionnette]

Some may guess that the new Poly building will be part of the existing Poly DVC. If it is not, it is far more likely that DVD's plan to maintain the Riviera resale restrictions for future resorts has not changed.

There are indications that the new Poly building will be its own, separate DVC resort. The fact that DVD will be going to the expense of building a whole new, very large building rather than just doing the far less expensive refurb that it did for VGF2 is one indication.

Another indication lies in the difference between the initial announcements made for adding VGF2 and adding the new Poly building. The initial VGF2 announcement specifcally referred to the addition of the studios as "an expansion of The Villas at Disney's Grand Floridian Resort and will be a part of its current condominium association." See, e.g., dvcnews.com/resorts/grand-floridian/news/5028-disney-vacation-club-to-add-villas-at-grand-floridian?utm_source=dlvr.it&utm_medium=twitter. The announcement for the the new Poly building says nothing about making it part of the existing DVC at Poly, but instead says the new building "will complement the existing resort" (referring to all of Poly not just DVC) and "would join the rest of the resort [again all of Poly] in offering stunning views of the Magic Kingdom."

But just to be contrary and fuel the discussion, the one glaring omission is the lack of a name for this new building. Every press announcement that heralded a new DVC resort has included the name for that resort.

I'm not saying that this alone points to the new building becoming part of the PVB condo association. But to me, the press release is intentionally vague so as to give DVC time to evaluate their options.

 

[UofMGuy423]

I think it definitely would. I also own there and want to add on more points but feel too nervous putting all my eggs in one basket with the resale restrictions so am considering vgf2 or now, poly2.

I suppose it depends on how much of a tick up in sales would happen and whether it outweighs DVD's motivation for having the restrictions in the first place.

 

[BWV Dreamin]

I am surprised DVC would build a stand alone building at this time.

 

[Isamar]

I don't think one has particularly much to do with the other. If PVB2 is an expansion of PVB1 and doesn't have resale restrictions, I don't think that's any kind of sign that some future new build wouldn't have them. DLT is the key to the future, not PVB2.


People are greatly exaggerating the cost differential here. DVD had to buy the Big Pine Key building from whichever entity owned it previously on the cash side. It's not like they got through that conversion for just the cost of some carpets and new mattresses.


The announcement seemed to me to drop contradictory clues.

Inspired by the early concepts for Disney’s Polynesian Village Resort, the Imagineers of today are honoring the past while furthering the resort story with this innovative addition. Projected to open in late 2024, the proposed vacation ownership property would complement the existing resort and evoke the spirit of the Pacific Islands.

Situated on the shores of Seven Seas Lagoon, the proposed property would join the rest of the resort in offering stunning views of the Magic Kingdom. Proposed plans would offer additional rooms, new recreation offerings and dining options. More information and project details will be shared at a later date.

Since 2015, Disney’s Polynesian Villas & Bungalows has been a favorite resort destination, offering an island paradise in the middle of the magic. Disney’s Polynesian Villas & Bungalows currently has 380 Disney Vacation Club villas, including the largest Deluxe Studios at any Disney Vacation Club resort at Walt Disney World and unique two-bedroom Bora Bora Bungalows, located over the waters of the Seven Seas Lagoon – the first of their kind at Disney.

"Proposed vacation ownership property" would seem to indicate a brand new thing a la Copper Creek. But "Disney's Polynesian Villas & Bungalows currently has 380 DVC villas" would seem to indicate an expansion of the existing PVB inventory.

I wonder if it might be part of Poly but with somewhat separate branding - like Jambo & Kidani at AKV?

 

[CaptainAmerica]

I wonder if it might be part of Poly but with somewhat separate branding - like Jambo & Kidani at AKV?

I would guess separate booking categories, like VGF's "Resort Studio" versus "Deluxe Studio."

1BR and 2BR won't require differentiation on the points chart because they'll only exist in the new building, but I imagine they'll want to give guests the ability to specifically book which Studios they want.

It's really the reverse of VGF, when you think about it. VGF had the full slate of DS/1BR/2BR/GV, and they added a giant pile of studios. PVB started with the giant pile of studios and now they're adding DS/1BR/2BR/GV.

 

[sethschroeder]

If some seller gets screwed-over because they sold with restrictions, but then restrictions are lifted and those points are instantly worth more to the new owner, you can bet there will be some suin' going on. I'm sure that Disney will have attorneys advising them on this if they consider dropping restrictions.

That lawsuit would be slapped aside so quickly as there is no backing for even being upset. It states right in the language they can remove it if they want. Its not like some of the membership language where its vague and there is no explanation why things change.

Example removing access to AP permanently has legal backing to sue because it states things will be replaced if removed from membership benefits (even though some disagree).

And, honestly, I don’t see many suing because resale value language is also a big part of the contract in terms of not buying with any such expectation.

Plus how much would you even sue Disney for? Maybe $5/point extra you would have gotten? Right now contracts are selling for $130-$150 and the baseline price is $207 which is 63%-73% of the price.

CCV is selling $155-$170 currently vs a $225 direct price so its selling for 69%-76% of the price. So you are talking about missing out on like 6% or $12.42/point. For someone selling 150 points you then even need to adjust the price for RIV down for incentives to $199 which bring it resale to getting 65%-75% of the price.

 

[Sandisw]

I don't think one has particularly much to do with the other. If PVB2 is an expansion of PVB1 and doesn't have resale restrictions, I don't think that's any kind of sign that some future new build wouldn't have them. DLT is the key to the future, not PVB2.


People are greatly exaggerating the cost differential here. DVD had to buy the Big Pine Key building from whichever entity owned it previously on the cash side. It's not like they got through that conversion for just the cost of some carpets and new mattresses.


The announcement seemed to me to drop contradictory clues.

Inspired by the early concepts for Disney’s Polynesian Village Resort, the Imagineers of today are honoring the past while furthering the resort story with this innovative addition. Projected to open in late 2024, the proposed vacation ownership property would complement the existing resort and evoke the spirit of the Pacific Islands.

Situated on the shores of Seven Seas Lagoon, the proposed property would join the rest of the resort in offering stunning views of the Magic Kingdom. Proposed plans would offer additional rooms, new recreation offerings and dining options. More information and project details will be shared at a later date.

Since 2015, Disney’s Polynesian Villas & Bungalows has been a favorite resort destination, offering an island paradise in the middle of the magic. Disney’s Polynesian Villas & Bungalows currently has 380 Disney Vacation Club villas, including the largest Deluxe Studios at any Disney Vacation Club resort at Walt Disney World and unique two-bedroom Bora Bora Bungalows, located over the waters of the Seven Seas Lagoon – the first of their kind at Disney.

"Proposed vacation ownership property" would seem to indicate a brand new thing a la Copper Creek. But "Disney's Polynesian Villas & Bungalows currently has 380 DVC villas" would seem to indicate an expansion of the existing PVB inventory.

Unless the mention of the current villlas was simply to state what is already there and this is adding a new DVC because it’s so popular?

How long do you think they will make us wait for the real answer? My guess is 2023!

 

[Sandisw]

What did I miss? Is there going to be a Poly2?

Yup! A new tower being built at Poly! But, the announcement did not say it would be part of PVB…didn’t say it wouldn’t either…so everyone is tryinf to read into the announcement for clues,

At first, I figured it would be the same…now, I am 90% convinced it’s going to be a new resort, with a new name, and resale restrictions.

 

[CaptainAmerica]

At first, I figured it would be the same…now, I am 90% convinced it’s going to be a new resort, with a new name, and resale restrictions.

What caused you to convert?

To me, this looks a lot more like VGF2 than Copper Creek.

 

[AvidDisReader]

It is just possible they left it so vague is due to DVC management has not decided themselves which way they want to go. Good golly I love these Dis boards for all these speculations.

 

[Sandisw]

What caused you to convert?

To me, this looks a lot more like VGF2 than Copper Creek.

The title of the announcement referred to them coming to Poly Village Resort and not coming to Poly Villas and Bungalows. When they announced VGF2, they specifically said coming to the Villas at GF.

The rest of the announcement used the words resort and this new property. The words to compliment the resort and not the DVC side also seems to point to new resort within it the resort.

So, you have PVB on one side, the Poly Village Resort in the middle, and then the new DVC Poly Tower on the other.

Those are glaring differences between what they did with VGF and this One. It was like they went out of their way with VGF to define it as a Phase 2 of VGF.

But, seem to have gone out of there way not to say that here, and not to refer to it as villas in the title.

Remember, prior to the pandemic, restrictions were the long term plan. They also had Reflections on the docket to be ready for sale in 2022.

All that changed and I now think the VGF conversion was to give them both that and RIV to hold them over until this new project is ready to sell.

They know a studio only resort wasn’t that popular with the original Poly so doing that with BPK didn’t make sense, especially given it’s quick flip. Plus VGF is small so adding more points to the condo association didn’t make it overwhelming.

Poly is already large and making this part of that, could make it huge. But, making it new gets them back to the plan.

While I know there are a lot of owners who don’t like the restrictions, I just don’t think DVD has shown to care that much because they are biding their time for when restricted points are the norm.

 

[kilik64]

Im in the 50/50 camp. Either it will or it wont be part of the new current condo association. I think they were intentionally vague and contradictory in the press release wording. Its a long way from being built (heck if it goes like tron, they'll blow right past that planned opening date...) and realistically they dont have to announce anything regarding new/old association until months out from going sale right?

I think they will decide which way they want to do it much closer to the time when they will start selling it. I dont think they even know yet what they plan to do right now with it, economy etc could be a lot different in two years.

 

[Sandisw]

Im in the 50/50 camp. Either it will or it wont be part of the new current condo association. I think they were intentionally vague and contradictory in the press release wording. Its a long way from being built (heck if it goes like tron, they'll blow right past that planned opening date...) and realistically they dont have to announce anything regarding new/old association until months out from going sale right?

I think they will decide which way they want to do it much closer to the time when they will start selling it. I dont think they even know yet what they plan to do right now with it, economy etc could be a lot different in two years.

They are going to have to have some answer to share with new buyers now it’s announced…it can’t be just ignored because when selling it, if asked, they have to be truthful as possible, even if it is not yet decided, they will have to say that.

My hope is we may see some more info once the sales for VGF to all buyers.

 

[drusba]

They are going to have to have some answer to share with new buyers now it’s announced…it can’t be just ignored because when selling it, if asked, they have to be truthful as possible, even if it is not yet decided, they will have to say that.

My hope is we may see some more info once the sales for VGF to all buyers.

DVD could possibly wait as long as until about a month before it begins sales of the new Poly (still a long way off) to reveal whether it is a new DVC or part of the existing POLY DVC. That is usually when DVD files the POS documents (which will be either an entirely new set if a separate resort or amendments to the old set if an addition to the existing Poly DVC) with the Orange County Comptroller, which must be filed before any sales can begin.