Poll: How will the tower at the Polynesian Village Resort become part of DVC?

[BeachClub2014]

We've had some awesome discussions, explorations, and debates as to whether the new tower being built at the Polynesian Resort will be added to the DVC portfolio as a new, stand-alone resort in a new association, or added to the existing PVB association, and have now added the Palmetto Trust option to the mix.

I've used my Ouija board, Magic 8-Ball, and crystal ball to consult with Walt himself and Madam Leota (all tongue-in-cheek, of course) on this very question and have gone on record in other threads that the Poly Tower will be declared into the new Trust system and will have restrictions to resale points ala RIV, VDH, and CFW. I believe that is what DVD will do.

Which way do you think it will happen? No more fence-sitting, qualifying, hair-splitting, or equivocating.

What's it gonna be?

 

[zavandor]

An important option is missing: some units will be part of the existing association and the rest will be part of the Trust

 

[BeachClub2014]

An important option is missing: some units will be part of the existing association and the rest will be part of the Trust

I thought about including that, and a myriad of other options, in the poll, but wanted it straightforward.

 

[eticketplease]

It 100% will have resale restrictions. The question will be are they extreme restrictions ie only staying at the tower or looser restrictions allowing you to stay at the original 14 resorts (which would be 2 when the contract ends).

The trust vs existing association vs new association.
My thoughts are it will be part of the existing association. I also don’t think Studios or bungalows at PVB will have any point changing as they will price the studios the same in the tower even though the accommodations are not equal (no extra shower). Just look at BPK vs studio at VGF as they are priced the same lagoon vs lake, standard vs standard).
In the same association, while it will cost the same for studios it does solve the issue of only having bungalows for families that already own at PVB. This is also great news for people that own resale at the O14 as it gives another larger option on the monorail loop.

No matter the situation our family is excited as we will now have a third option featuring an extra REAL bathroom when staying in a 1 or 2 bedroom room.

 

[BeachClub2014]

An important option is missing: some units will be part of the existing association and the rest will be part of the Trust

At your suggestion, I added an "Other" option for people to select. I'm not gonna try and list all of the different options.

 

[Jlo85]

My personal guess is they'll move to Marriott's model and:

1. Poly Tower will be added to the trust. The Trust will essentially own half of PVB.
2. The trust will have resale restrictions, but it will be a bit different than today. You will be restricted to the resorts/property in the trust. So if it's only Poly and CFW in the trust, resale owners are limited to those resorts. If they add more properties to the trust, you'll get access to those with a resale contract as well.
3. Long-term, I'll assume they'll add fees for buying resale Trust points. Similar to what Marriott does today.

 

[BilLisa]

I believe some units will be sold as deeded into the existing PVB association and some will be added to the Trust.

 

[Sandisw]

After my extensive research…lol…I know think it will go right into the trust and sold only that way, with the same restrictions they put on CFW…which are the same as VDH and RIV.

But , I sent off my 5th email to DVc…let’s see if they have any further wisdom after consulting their Magic 8 ball.

ETA. And 5th time is NOT the charm. They said they can not share any info regarding future products. So I am going on record that DVC is purposely distancing themselves now from comment made by Chang when asked about it.

 

[bakerworld]

Voted Other. I think the Poly Tower will be part of the existing PVB with no resale restriction. I think it is too small to be seperated in any way.

 

[BeachClub2014]

Voted Other. I think the Poly Tower will be part of the existing PVB with no resale restriction. I think it is too small to be seperated in any way.

Thanks for the vote! It sounds like you may have meant for this choice, should you wish to change it.

It will be declared into the existing PVB Association, presumably without resale restrictions​

 

[BeachClub2014]

After my extensive research…lol…I know think it will go right into the trust and sold only that way, with the same restrictions they put on CFW…which are the same as VDH and RIV.

But , I sent off my 5th email to DVc…let’s see if they have any further wisdom after consulting their Magic 8 ball.

ETA. And 5th time is NOT the charm. They said they can not share any info regarding future products. So I am going on record that DVC is purposely distancing themselves now from comment made by Chang when asked about it.

Interesting. I think you could be right.

 

[SleeplessInTO]

I have skimmed the cabins threads but didn’t see mention of any filed legal documents related to Poly 2 referencing the Palmetto trust (if there are any?) so the latest I’ve heard is Chang replying "our plans right now are for the new tower to be part of the existing Polynesian resort." when asked about this.

Can they change their mind and point to “I said RIGHT NOW, but then plans changed”? Sure. But until I hear a statement from someone else high up with DVD / DVC or see in writing some filed documents to the contrary, then I’m going with the last public statement.

(I don’t know why Chang couldn’t have just said “That decision has not been finalized.” or something similar when asked?)

 

[Sandisw]

I have skimmed the cabins threads but didn’t see mention of any filed legal documents related to Poly 2 referencing the Palmetto trust (if there are any?) so the latest I’ve heard is Chang replying "our plans right now are for the new tower to be part of the existing Polynesian resort." when asked about this.

Can they change their mind and point to “I said RIGHT NOW, but then plans changed”? Sure. But until I hear a statement from someone else high up with DVD / DVC or see in writing some filed documents to the contrary, then I’m going with the last public statement.

(I don’t know why Chang couldn’t have just said “That decision has not been finalized.” or something similar when asked?)

Nothjng filed yet in relation to the project.

But I am going by what I do have in writing from DVC and that is they can not answer my questions, and won’t give any info, including admitting that Chang said something.

And they can absolutely do whatever they want…as I alluded to in the long thread about what we do know in reference to the trust creation.

 

[intamin]

I voted that it would be put into the trust but at this point I'm hoping it becomes part of the same association without resale restrictions. Putting it into the trust and part of the same association would pretty much only hurt new direct buyers. Would rather buy resale Poly if original owners can still book the tower at 11 months.

 

[tidefan]

An important option is missing: some units will be part of the existing association and the rest will be part of the Trust

This is what I think

 

[SpicyMcHaggis]

I voted Other: I believe the units will be part of the existing association, but will be wholly owned by the trust and new direct purchasers will only be able to buy points via buying into that trust instead of buying deeded units.

 

[Jlo85]

I voted Other: I believe the units will be part of the existing association, but will be wholly owned by the trust and new direct purchasers will only be able to buy points via buying into that trust instead of buying deeded units.

I agree - I think it will be an association (the Trust) within a bigger association (PVB). That arrangement will allow Chang's comments to still be true.

 

[DonMacGregor]

I believe some units will be sold as deeded into the existing PVB association and some will be added to the Trust.

I just don't see any upside for DVC going that route. They are going to sell it out, no matter what they call it or how they package it, so why make it difficult on themselves by adding some sort of hybrid resort that has two different products that are marketed, sold, and maintained in different ways?

I think every resort that isn't currently selling as new or not "sold out" (IE Riviera, VDH, and Aulani) will continue to sell as leasehold timeshares, and everything that is brought online to sell as new from this point forward, will be sold as RTU's (including the Poly tower). I think everything will still be added to BVTC and will have the same home resort booking windows, but the type of ownership interest will simply change.

The last thing DVC/DVD cares about is making sure no one can call Yvonne Chang a liar because of a comment she made in response to a question posed in a breakout session after the annual meeting (where she still didn't give a definitive response and only said "currently").

 

[Jlo85]

Also, this may be a stupid question that I'm afraid to ask (sorry), but I thought inventory is declared into the condominium property, not the association?

 

[MyDogTink]

My personal guess is they'll move to Marriott's model and:

1. Poly Tower will be added to the trust. The Trust will essentially own half of PVB.
2. The trust will have resale restrictions, but it will be a bit different than today. You will be restricted to the resorts/property in the trust. So if it's only Poly and CFW in the trust, resale owners are limited to those resorts. If they add more properties to the trust, you'll get access to those with a resale contract as well.
3. Long-term, I'll assume they'll add fees for buying resale Trust points. Similar to what Marriott does today.

I agree with your viewpoint.

Question- what’s the approximate amount Marriott charges for resale? I’m a it nominal? I wonder why DVC doesn’t charge for the ROFR process.

I wonder if a trust participant will have to surrender points back to DVC. Would have serious implications for resale market but DVC would be sitting on a lot of points.