heynowirv
DIS Veteran
- Joined
- Dec 31, 2008
OKW I'll be 88 and SSR 100 ,after that I'm cashing in.My expiration dates are when I am 72 for BWV and 84 for SSR. I hope they expire before I do
OKW I'll be 88 and SSR 100 ,after that I'm cashing in.My expiration dates are when I am 72 for BWV and 84 for SSR. I hope they expire before I do
I was wondering the same thing that Doc is - about how Byzantine banking and borrowing is going the get the last 2-3 years.
Will there be a fire sale on points for rent in that last year when points cannot be banked?
MB
My best guess would be that Hilton Head and Vero Beach would be sold off especially since years ago they sold the land next to Vero beach when Vero beach didnt sell as well as they thought it would. Boulder would have a hard refurbishment and would be sold as DVC with higher points needed but with an expiration date same as CCV so these would be like 24 year contracts. That would leave just 2 properties which they could rent one out as hotel rooms while they are doing a major overhaul to the other to rebrand and resell for higher point totals. When that was done the can overhaul the one they were renting out as rooms and then resell them as DVC.I suspect they may offer some shorter extensions on at least a couple of the properties if only to stagger them. Having 5 go offline is probably a little much. Even offering a 5 year extension on a couple of them will allow DVC to do minor refurbs on one or two resorts at a time before reselling them as a "new" resort.
Ha- We got ripped off paying 72/pp for our 190 point OKW contract LOL. Also bought in 2008.I bought OKW resale in 2008 and 2009 for about $65 per point. I am shocked to see what the price is now--around a 50% increase.
I’m not expecting demolition - I think they’ll do extensive refurb to bring them up to whatever standard is “deluxe” at that time. They could work on one floor and/or one wing at a time and rent the rest for cash.Ive been thinking a little about 2042 and I cant see demolition of all those resorts and the time it would take to rebuild and sell them would be too long with too much capacity lost and then brought online at the same time. As the years come closer to 2042 and the price begins to drop, I would think it would be business practical to start ROFR aggressively on disney part and take some rooms out of service and begin to refurb (complete gut) and start selling points with extended dates? I'm not a timeshare lawyer so there could be details someone could share that might make this impossible, but from a financial perspective, I would not want all those points expiring at the same time where I have to do mass construction / refurb all simultaneously. Doing that much work at once will drive the cost up as finding workers / materials / managers / designers to manage it all would be a recipe for cost over-runs and delays.
I agree no knocking the structure down but a major overhaul and a possible rethemeing and of course more points needed. I believe they will do a whole resort at a time and like I posted earlier, HH and Vero will get sold off and will not be part of DVC. The boulder resort will either be refurbished and have a contract that ends the same as CCV or will be used as "hotel" rooms . You are never going to see any extensions ever again. If the were going to do that they would still be offering extensions for OKW.I’m not expecting demolition - I think they’ll do extensive refurb to bring them up to whatever standard is “deluxe” at that time. They could work on one floor and/or one wing at a time and rent the rest for cash.
I've wondered too. Is it possible that 10-15 years from now DVC offers contract extensions for resorts that expire in 2042? I get the feeling something will change and make the scenario different from how we see it today.
Plus much more profitable to let the timeshares expire ,overhaul ,jack up points needed per night and resale as a "new" resort.This doesn't seem likely, mostly because of the reports that came out when they did this very thing by offering extensions at Old Key West. Now granted, that was around the 1/2-way point of the lease for many owners (not 10-15 years from now when the leases are closer to running out) - but it was not very popular and appeared to be a big headache for DVC trying to get responses from all the owners.
My best guess would be that Hilton Head and Vero Beach would be sold off especially since years ago they sold the land next to Vero beach when Vero beach didnt sell as well as they thought it would. Boulder would have a hard refurbishment and would be sold as DVC with higher points needed but with an expiration date same as CCV so these would be like 24 year contracts. That would leave just 2 properties which they could rent one out as hotel rooms while they are doing a major overhaul to the other to rebrand and resell for higher point totals. When that was done the can overhaul the one they were renting out as rooms and then resell them as DVC.