What the Hell is Wrong with DVC?

[bookwormde]

what about the cash rooms? I don't know how many they have set aside, probably not that many.. but at least its something?

Cash room only occur from initial unsold rooms and to pay for point trade outs so no there is no net set aside rooms. There is a small number of rooms within DVC to allow for rooms taken out of service for damage and maintenance, but again they do not create empty rooms.

It should be noted that initial unsold rooms belong to Disney development not DVC

 

[kapicka]

We have a whole bunch of banked points which need to be used before December. What do you think is the best option? Make some reservations as late in November as possible and hope the resorts are open? With kids it is way easier for us to use points in Summer but things are not looking good for being open this Summer, right?

 

[rkstocke5609]

The resorts aren’t going to be torn down at the end of these contracts. Not immediately anyways. Easy to offer free points to anyone that lost them due to this, only usable in the year after their contract expires. Kinda like bonus points when you purchase direct. Thing is, these aren’t transferable so you have to get to the end to receive the bonus. So, the exposure is actually negligible as I bet only 25% of members will still actually own their contracts at expiration. Of them, only 35% lost points to the situation likely (depending on how long it goes on). This way, they give something to calm folks, but the benefit is so far off it’s irrelevant.

 

[we"reofftoneverland]

We have a whole bunch of banked points which need to be used before December. What do you think is the best option? Make some reservations as late in November as possible and hope the resorts are open? With kids it is way easier for us to use points in Summer but things are not looking good for being open this Summer, right?

No one knows what will happen but I think they will open this summer. The question is just when. However, since you have a deadline on your points of December, I probably would try for November because the parks will no question be open by then. If they open in June, you could always try to switch it to the summer at that point.

 

[ParrotBill]

Here's the problem: DVC isn't saying ANYTHING at this point. That's not acceptable. And those of us with vacations lost and points expired or expiring very soon, like my 413, are being told sorry, maybe something will happen or maybe it won't. But oh, you can deposit into RCI to protect your points. That turns my 12 day Disney vacation into 5-4 weeks of some other place that also comes with extra fees (almost all have daily resort fees of $25 so add $700 PLUS a loss of my year's dues in DVC. And we're frustrated. We understand all the answers about how inventory works. We can't just move the points without someone else taking them out.

What should be happening is that DVC should be making a decision NOW that there will be compensation, that they will dig in somewhere to give some of the value back, even if they can't says exactly how much or in what form yet.

It is awful to tell us "we have no idea" as out points go *poof*. If the ONLY choice they are going to give us is deposit into RCI, then we need to hear that now too. So we can do it before they expire.

How hard is this for one of the world's biggest companies? Hotel chains, airlines and cruise lines have already shown flexibility and added value. Many cancelled cruises can be rebooked with extra value applied. C'mon, Disney, figure it out.

 

[we"reofftoneverland]

Here's the problem: DVC isn't saying ANYTHING at this point. That's not acceptable. And those of us with vacations lost and points expired or expiring very soon, like my 413, are being told sorry, maybe something will happen or maybe it won't. But oh, you can deposit into RCI to protect your points. That turns my 12 day Disney vacation into 5-4 weeks of some other place that also comes with extra fees (almost all have daily resort fees of $25 so add $700 PLUS a loss of my year's dues in DVC. And we're frustrated. We understand all the answers about how inventory works. We can't just move the points without someone else taking them out.

What should be happening is that DVC should be making a decision NOW that there will be compensation, that they will dig in somewhere to give some of the value back, even if they can't says exactly how much or in what form yet.

It is awful to tell us "we have no idea" as out points go *poof*. If the ONLY choice they are going to give us is deposit into RCI, then we need to hear that now too. So we can do it before they expire.

How hard is this for one of the world's biggest companies? Hotel chains, airlines and cruise lines have already shown flexibility and added value. Many cancelled cruises can be rebooked with extra value applied. C'mon, Disney, figure it out.

I am not in the group who could lose points, but I also think they should just give people their points back. That they haven’t said anything reveals to me how dire the situation really is. They have 0 money coming in. There is only so long they can last like this. Disney could go under. I don’t think that will happen, because the minute Florida recinds the stay at home, I think Disney will open. They have to. Once that happens, I do think they will compensate people. But right now they are focused on just getting through this. They have also said they will extend annual passes. But when you go into your annual pass the old expiration date is still there. They seem to be flailing in general.

 

[dsnymnkyuncle]

This is exactly the out of box type thinking that will be required to fix this mess. For the DVC nobody getting hurt created the problem. All are losing. Everybody owners, DVC, Disney and renters, the pain has to be off set. So this is a good potential fix or part of a fix. How about converting lost owner points to a permanent until used point for new resort openings? Disney and DVC are not shy about giving out one time use for new people. This would be an easy to figure and easy to implement fix with the benefit of getting people in to see and possibly buy new resorts.

For people who are losing points due to this, could DVC spread the banking of said points over a greater amount of time? Instead of allowing someone who is set to lose 200 points due to using banked points, could they allow them to spread those points out over the next 10 years? Essentially for the next 10 years they have an extra 20 points to use per year? I'm guessing this would be a huge headache for DVC administration to execute as it would have to be a manual process. But at least affected members wouldn't lose points. Spreading it out over 10 years would also help the inventory issue and wouldn't create a huge excess of points in the near term.

A similar option that would probably be easier to implement would to allow affected members to choose one year in the future 10 years to bank their points to. So my example above, that person could bank their 200 points to their 2024 use year and would act as banked points in their 2024 use year. DVC could figure out the total number of points each of the next years could accommodate and give each affected member the option on a first come first serve. Sure, it stinks if you are last and have extra points in 2029. But it is 100% better than losing them.

This is probably way to complicated to actually implement, but I hate to see people lose their points. I hope DVC finds a way to allow people to use their expiring points while not putting too much stress on the entire system.

 

[DebbieB]

It would be nice for DVC to give an answer now but the problem is they don’t know how long this will last. If it’s a 6/1 reopening, it’s 2 1/2 months lost. If it’s 9/1, that’s 5 1/2 months lost. Perhaps opening up the Disney Collection would work with 2 1/2 months lost but could be overloaded with a later opening. If they announced now, members will expect that resolution to carry over for everyone until reopening.

 

[starry_solo]

We have a whole bunch of banked points which need to be used before December. What do you think is the best option? Make some reservations as late in November as possible and hope the resorts are open? With kids it is way easier for us to use points in Summer but things are not looking good for being open this Summer, right?

yes late November would be your best bet since they cannot be banked again. It may cost more in points but at least they didn’t go to waste

 

[starry_solo]

My guess is that they will say too bad to the people whose banking deadlines have passed and not do anything to compensate them for it.

 

[Deploraboo]

Realize that fractional ownership in real estate means you own nothing but a thinly veiled promise.

 

[conandrob240]

what about the cash rooms? I don't know how many they have set aside, probably not that many.. but at least its something?

Cash rooms can be made available and there are actually plenty of rooms available right now later in 2020 especially in categories like 2 bedrooms. SSR,OKW especially has lots of availability. In mid-December, many nights of 2 bedroom availability. The longer they wait to make a decision, the harder it’ll be to “fix” this.

 

[DVCPAT]

It looks like 10.8 in the public offerings statement says a closure will extend the contract for a period equivalent to the period of delay. Maybe the closure time will be added the back of the contract?

 

[conandrob240]

That would be an interesting solution but what would it mean for points? I have a situation where I rented out 450 points for a May trip where the points expire in May. How would one compensate a renter with something like an extension?

 

[Sandisw]

It looks like 10.8 in the public offerings statement says a closure will extend the contract for a period equivalent to the period of delay. Maybe the closure time will be added the back of the contract?

Which resort POS? My RIV 10.8 says something different. Can you give me an idea of what section that is to see if I can find the comparable one?

My 11.7 discusses interruption of use but doesnt allow for extension.

 

[conandrob240]

I am not in the group who could lose points, but I also think they should just give people their points back. That they haven’t said anything reveals to me how dire the situation really is. They have 0 money coming in. There is only so long they can last like this. Disney could go under. I don’t think that will happen, because the minute Florida recinds the stay at home, I think Disney will open. They have to. Once that happens, I do think they will compensate people. But right now they are focused on just getting through this. They have also said they will extend annual passes. But when you go into your annual pass the old expiration date is still there. They seem to be flailing in general.

Oh, please. They are a billion $ enterprise who had astronomical profits in 2019. Disney’s not going anywhere and they could easily absorb this.

 

[conandrob240]

And I disagree they’ll open as soon as stay at home order is rescinded. Heck, the FL governor just issued his last week and they closed long before that. They are going to be responsible and follow an entity like the CDC which likely means a longer closure

 

[Sandisw]

That would be an interesting solution but what would it mean for points? I have a situation where I rented out 450 points for a May trip where the points expire in May. How would one compensate a renter with something like an extension?

You can’t unfortunately. Your deal with the renter will have to be solved another way depending on the terms you both agreed to if this is covered and if not, then what you two can come up with.

But, if I remember from your other posts, these will expire May 31st, so right now, you are at the mercy of DVCM deciding to change banking rules or some other sort of change to allow your points not to expire.

 

[conandrob240]

You can’t unfortunately. Your deal with the renter will have to be solved another way depending on the terms you both agreed to if this is covered and if not, then what you two can come up with.

But, if I remember from your other posts, these will expire May 31st, so right now, you are at the mercy of DVCM deciding to change banking rules or some other sort of change to allow your points not to expire.

Yes, May 31st. My rules are clear- no cancellations, no refunds. But I will do anything in my power to be fair if disney is fair to me.

 

[we"reofftoneverland]

Oh, please. They are a billion $ enterprise who had astronomical profits in 2019. Disney’s not going anywhere and they could easily absorb this.

Wow, that’s a pretty nasty reply on your part. I don’t think you actually read my post.