People interested in Poly2: are you hoping for new association or same?

[BrianR]

Our first purchase was 50 pts direct at PVB before the minimums went up from 25 points for the blue card access. If it's the same association I'll probably add 150, if it's new I'll probably sell the PVB 50 (even though it hurts to say it). We're neck deep in VGF/VGF2 points and have CCV points, so getting over there either by walking next door or a 7 month move shouldn't be an issue. I mean the tell will be the building plans if we can find them. If it's all 1BR /2BR / 3BRGV then the mix would point to filling out the portfolio of the current association. If they have a decent percentage of Studios then it would lend to be a standalone association.

 

[HappyDisneyWife]

I know the initial announcement was very vague, and could be read both ways, but I found the verbiage in our new VGF contract interesting:

7. Other DVC Resorts. BVTC has reserved the right to associate additional resorts as DVC Resorts or delete existing DVC Resorts from time to time. PURCHASERS should refer to the Public Offering Statement for details concerning the addition or deletion of DVC Resorts. The proposed projects at Reflections-A Disney Lakeside Lodge and Disney’s Polynesian Village Resort in Florida and at the Disneyland Resort in California are only possible component sites or accommodations which may never be built or added to the Disney Vacation Club multi site timeshare plan. Neither DVD nor any of the TWDC Companies have any obligation to build any additional Disney Vacation Club resorts or to add additional component sites or accommodations to the Disney Vacation Club multi site timeshare plan.

*DVD added words in bold- I added underlining.

When looking up the legal definition of “component site” I found-

“Component site means a specific geographic location where accommodations that are part of a multisite timeshare plan are located. Separate phases of a single timeshare property in a specific geographic location and under common management are a single component site.”

I don’t know about you, but that points to the Poly expansion all being under one association to me. It doesn’t have to mean that, of course, but I think it at least lends credibility to the idea

 

[Sandisw]

I know the initial announcement was very vague, and could be read both ways, but I found the verbiage in our new VGF contract interesting:

7. Other DVC Resorts. BVTC has reserved the right to associate additional resorts as DVC Resorts or delete existing DVC Resorts from time to time. PURCHASERS should refer to the Public Offering Statement for details concerning the addition or deletion of DVC Resorts. The proposed projects at Reflections-A Disney Lakeside Lodge and Disney’s Polynesian Village Resort in Florida and at the Disneyland Resort in California are only possible component sites or accommodations which may never be built or added to the Disney Vacation Club multi site timeshare plan. Neither DVD nor any of the TWDC Companies have any obligation to build any additional Disney Vacation Club resorts or to add additional component sites or accommodations to the Disney Vacation Club multi site timeshare plan.

*DVD added words in bold- I added underlining.

When looking up the legal definition of “component site” I found-

“Component site means a specific geographic location where accommodations that are part of a multisite timeshare plan are located. Separate phases of a single timeshare property in a specific geographic location and under common management are a single component site.”

I don’t know about you, but that points to the Poly expansion all being under one association to me. It doesn’t have to mean that, of course, but I think it at least lends credibility to the idea

But that language is standard that nothing that has been announced has to be built. Even my RIV POS has that language in it..

They added the new Poly name because it has been announced, but the rest of it has always been there in some way.

But, do you notice they say Disney's Poly Village Resort? That is not DVC...DVC is called the Poly Village and Bungalows...again, we can read it any way we want, but that is really nothing more than the legal language that no one is buying expecting that any future elements will be build

So, they are just being specific that they don't have to not only build new resorts, but under no obligation to do what they did at VGF...which is add rooms.

They even include Reflections still and that project has been canceled. Its still there because it was, at one time, considered.

 

[kdm31091]

IMO since it's being referred to under the same name (i.e. Polynesian Village Resort) and not as its own property with its own name, it leans towards it being the same association. I think it would create a lot of ill will for current owners who paid a premium for Poly despite its limited room options, if they would be locked out of the new building and its variety of room types. Why would anyone buy the original Poly after the new one is built? There would be almost no reason since bulgalows are not hard to get at 7 months anyway.

 

[HappyDisneyWife]

But that language is standard that nothing that has been announced has to be built. Even my RIV POS has that language in it..

They added the new Poly name because it has been announced, but the rest of it has always been there in some way.

But, do you notice they say Disney's Poly Village Resort? That is not DVC...DVC is called the Poly Village and Bungalows...again, we can read it any way we want, but that to me just confirms that it may or may not be new....

So, they are just being specific that they don't have to not only build new resorts, but under no obligation to do what they did at VGF...which is add rooms.

True, but they didn’t call the VGF BPK a component site, but rather an “additional building” (in the contract). I do find it interesting that they keep using “Poly Resort” as opposed to PVB though… definitely keeping us guessing on this one!

 

[Sandisw]

True, but they didn’t call the VGF BPK a component site, but rather an “additional building” (in the contract). I do find it interesting that they keep using “Poly Resort” as opposed to PVB though… definitely keeping us guessing on this one!

The term component though was not specific to Poly. It was was in relation to any and all that happens in the future.....so, again, I don't think this is anything more than covering all basis for people not to buy expecting anything.

 

[HappyDisneyWife]

The term component though was not specific to Poly. It was was in relation to any and all that happens in the future.....so, again, I don't think this is anything more than covering all basis for people not to buy expecting anything.

I agree. I just found it interesting. I don’t remember “component site”language in previous docs- just “we may or may not add new DVC resorts” kinda language.

 

[Sandisw]

I agree. I just found it interesting. I don’t remember “component site”language in previous docs- just “we may or may not add new DVC resorts” kinda language.

I see what you are saying...maybe it was added because of what happened with VGF? But they did add treehouses which were components of SSR? Maybe they changed it when they realized we were all pulling apart the announcement to figure it out and they wanted to keep us talking!!! LOL

ETA: I have to check my new contracts to see if it is there since I bought before Poly was announced!!!

 

[DVCSunDevil]

Why would anyone buy the original Poly after the new one is built? There would be almost no reason since bulgalows are not hard to get at 7 months anyway.

Isn’t the original Poly sold out? Why would DVC care if anyone buys it at this point? They can keep a small amount of direct points for those who do indeed want to buy it, but the future sales will be focused around Poly2.

 

[Sandisw]

I see what you are saying...maybe it was added because of what happened with VGF? But they did add treehouses which were components of SSR? Maybe they changed it when they realized we were all pulling apart the announcement to figure it out and they wanted to keep us talking!!! LOL

ETA: I have to check my new contracts to see if it is there since I bought before Poly was announced!!!

I just checked my purchase contract which was signed before the announcement of Poly, and it includes all the language about component as above, but does not specific address the Poly Resort as it has not been announced.

 

[HappyDisneyWife]

I just checked my purchase contract which was signed before the announcement of Poly, and it includes all the language about component as above, but does not specific address the Poly Resort as it has not been announced.

Yes! I just found purchase contract language posted last fall:

Has anyone noticed this specific language that has been included (date unknown to me) to the current purchase agreement?:

"The next proposed projects at Reflections-A Disney Lakeside Lodge and at Disneyland are only possible component sites which may never be added to the Disney Vacation Club multi site timeshare plan. The proposed additional building with additional Vacation Homes at the Villas at Disney’s Grand Floridian Resort may not be built or added to the Disney Vacation Club multi site timeshare plan. Do not purchase an interest in a Disney Vacation Club Resort in reliance upon the addition of these component sites, any new resorts or additional Vacation Homes. Neither DVD nor any of the TWDC Companies have any obligation to build any additional Disney Vacation Club resorts or to add additional component sites or Vacation Homes to the Disney Vacation Club."

This one clearly states the Reflections & DLT are component sites (meaning the “sites” are WDW & DL, etc, and not individual resorts)!!! This would actually lend more credibility to Poly2 being a new resort (ie. BRV & CCV), bc new language does not indicate new “Vacation Homes” being added.

In light of this, I think I need to retract my earlier statement!

To be honest, the thought of a new association being so “close” to PVB’s opening date still surprises me, but it’s definitely possible… maybe even likely.

But of course the biggest takeaway is that legal jargon is purposefully confusing with one goal- (spoiler alert! It’s not there to foil us here on the DISBoards!! )- it is to always provide a legal “out” for DVC/DVD.

 

[Sandisw]

Yes! I just found purchase contract language posted last fall:

This one clearly states the Reflections & DLT are component sites (meaning the “sites” are WDW & DL, etc, and not individual resorts)!!! This would actually lend more credibility to Poly2 being a new resort (ie. BRV & CCV), bc new language does not indicate new “Vacation Homes” being added.

In light of this, I think I need to retract my earlier statement!

To be honest, the thought of a new association being so “close” to PVB’s opening date still surprises me, but it’s definitely possible… maybe even likely.

But of course the biggest takeaway is that legal jargon is purposefully confusing with one goal- (spoiler alert! It’s not there to foil us here on the DISBoards!! )- it is to always provide a legal “out” for DVC/DVD.

One thing I did think about…and posted somewhere…is that if VGF is selling well with 6 years less…DVD may decide to make Poly tower new but keep expiration the same as PVB.

So, they could decide that both resale restrictions and a shorter contract will be fine…

 

[HappyDisneyWife]

One things I did think about…and posted somewhere…is that if VGF is selling well with 6 years less…DVD may decide to make Poly tower new but keep expiration the same as PVB.

So, they could decide that both resale restrictions and a shorter contract will be fine…

Yeah, I’m very concerned about that possibility.

 

[Paul Stupin]

IMO since it's being referred to under the same name (i.e. Polynesian Village Resort) and not as its own property with its own name, it leans towards it being the same association. I think it would create a lot of ill will for current owners who paid a premium for Poly despite its limited room options, if they would be locked out of the new building and its variety of room types. Why would anyone buy the original Poly after the new one is built? There would be almost no reason since bulgalows are not hard to get at 7 months anyway.

People will buy Poly1 when the resale price has adjusted downward enough to pique buyers’ interest. But I don’t think Disney cares what current Poly owners think. They’re not building Poly2 to make them happy and, has been remarked many times, if I’m going to plunk down the bucks to buy points there, I’d rather not compete with all the current Poly owners at 11 months.

 

[Sandisw]

People will buy Poly1 when the resale price has adjusted downward enough to pique buyers’ interest. But I don’t think Disney cares what current Poly owners think. They’re not building Poly2 to make them happy and, has been remarked many times, if I’m going to plunk down the bucks to buy points there, I’d rather not compete with all the current Poly owners at 11 months.

Exactly. DVD makes decisions based on what is good for DVD and the bottom line for sales....nothing more, nothing less. If they decide that Poly tower...and the future resorts...will sell better by making them new resorts, with restrictions, and even less than a 50 year lease, than that is what we will see them do!!

 

[DisneyCowgirl]

You're probably right, and I am scared of what that will do to the already crowded volcano pool. Hopefully they will put a pool at the new tower with a slide, splash pad, etc that will appeal to the kiddos, so they're not all wanting the volcano pool. Kids don't care about an infinity pool. Time will tell, it will be fascinating to see how it unfolds. I wasn't following DVC when Riviera was at this stage, so it's all new to me

Agree! The Volcano pool cannot possibly handle that many more guests. I was mostly hoping it would be its own resort, no pool sharing. I don't own at Poly, but we love using our "sleep around" points there.

 

[SLThomas318]

So I know Poly is sold-out, but Disney still has and will have points to sell from buy-backs. If this is a new association, won't it make it hard for them to market/sell Poly1 points vs Poly2 points? There really is nothing to compare too since BRV was 20 years old when CC started and both properties had all villa types. It really is a unique situation. I also agree that they didn't announce because they simply don't know OR that they feel announcing would affect current sales... which makes me think it will be one association with no restrictions.

 

[lovethesun12]

People will buy Poly1 when the resale price has adjusted downward enough to pique buyers’ interest. But I don’t think Disney cares what current Poly owners think. They’re not building Poly2 to make them happy and, has been remarked many times, if I’m going to plunk down the bucks to buy points there, I’d rather not compete with all the current Poly owners at 11 months.

They may care a little though. Which group of people love poly the most? Poly owners!!!!!!! Which group of people want lots more points to stay longer at poly and in bigger rooms? People who already LOVE poly!!!!!

They don't even have to spend in marketing at all if they sell to poly owners. They can just leave a trail of lapu lapu's that lead right to a 1/2bdrm with a DVC sales person. WE'RE IN!!!!!!

 

[Sandisw]

So I know Poly is sold-out, but Disney still has and will have points to sell from buy-backs. If this is a new association, won't it make it hard for them to market/sell Poly1 points vs Poly2 points? There really is nothing to compare too since BRV was 20 years old when CC started and both properties had all villa types. It really is a unique situation. I also agree that they didn't announce because they simply don't know OR that they feel announcing would affect current sales... which makes me think it will be one association with no restrictions.

If it’s a new association, then they will have both to sell. Yes, they do have points to currently sell but unless they ROFR in high numbers, they may not have a ton of them.

Even now, with VGF, and being the same association, they are not selling points to the current building, only the new one.

So, regardless of decision, I imagine that they will do it the same way. I think we won’t really know for at least a year from now.

 

[SLThomas318]

If it’s a new association, then they will have both to sell. Yes, they do have points to currently sell but unless they ROFR in high numbers, they may not have a ton of them.

Even now, with VGF, and being the same association, they are not selling points to the current building, only the new one.

So, regardless of decision, I imagine that they will do it the same way. I think we won’t really know for at least a year from now.

Which is another reason why I leans towards the same... what will happen with ROFR? Is Disney going to want to buy back points that will be harder to sell? Wonder how low they would let prices drop?

If it is a new association, wouldn't they have to sell both? Well I understand they don't have to do anything, but I don't see why they would want to stop selling Poly1. I understand with VGF... the points work the same at both buildings, or at least they will once the new building is open.

I agree... it will be a bit before we know anything, but it is fun to speculate!