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[han22735]

So does that mean the above figures are incorrect then? I’m just trying to work out what I will need to pay for this past years dues. Will there be no discount on what we need to pay next month?

Those figures are adjusting what the dues we already paid in 2020 would "be" assuming the discount. But the actual money will credit the 2021 dues.

 

[i<3riviera]

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[han22735]

So question on the dues credit. We just bought a resale contract where the seller had used and paid for the 2020 dues. Based on the tweet from DVCNews, it sounds like the credit comes to us since we're currently holding the contract?

That's how I read it.

 

[_auroraborealis_]

They moved BRV's refurb to 2022 but will do softgoods at VGF and Poly next year?!

VWL is the stepchild, isn't it.

 

[i<3riviera]

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[pkrieger2287]

https://dvcfan.com/2020/12/10/5-takeaways-from-the-2020-dvc-condo-association-meeting/

 

[DannyV]

They moved BRV's refurb to 2022 but will do softgoods at VGF and Poly next year?!

VWL is the stepchild, isn't it.

Was disappointed by that too, but I assume rooms are already booked for 2021 so that can't take them out of inventory?

 

[amystevekai&bump]

correct, I updated the table to reflect 2020 effective dues (2020 dues with credit) and 2021 net dues (2021 dues with 2020 credit applied)

Brilliant! Thank you so much

 

[pkrieger2287]

Was disappointed by that too, but I assume rooms are already booked for 2021 so that can't take them out of inventory?

Unfortunate... But I think their logic is that they can easily transition to the villas at Poly after completing the hotel refurb. Boulder Ridge def needs it most!

 

[Ronaldo17]

correct, I updated the table to reflect 2020 effective dues (2020 dues with credit) and 2021 net dues (2021 dues with 2020 credit applied)

Good job, Buddy!

 

[bobbiwoz]

I was supposed to be there so just interested in all that has been mentioned so far.

I would be surprised to have any new info about borrowing restrictions because my sense is that will be in place until they see the system is back to normal, which will be more based on booking and actual travel in the next 6 months of so,

We were supposed to be there too, sigh.

 

[TinkB278]

Do they have to pull rooms from the poly for the refresh? Poly went from having almost full availability in May 2021 this morning to having almost nothing.

 

[KAT4DISNEY]

So since you have that nice little list, can you do the math on what the net 2020 dues are for each? I suspect Riviera is no longer an outlier...

A credit back for closure doesn't actually change the underlying dues calculation though. If it was open it would have been what it was.

 

[Sandisw]

Do they have to pull rooms from the poly for the refresh? Poly went from having almost full availability in May 2021 this morning to having almost nothing.

Yes, they take rooms out of service when they are doing the refurbs.

 

[MICKIMINI]

Thanks for reporting in! I've been adding GC's and stopped about 10% short of what we owe for 2021 MF's thankfully!! This smooths over the fact that BRV won't be refurbed for our fall 2021 trip...but love that both BRV and HHI will be done before our retirement trips!

 

[i<3riviera]

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[KAT4DISNEY]

well thinking of it another way, all the Walt Disney World resorts were open the same amount of time in 2020 so their actual cost will have been affected similarly

budgets / dues are future projections / calculations like you mentioned and if there is a surplus, it normally gets moved to the capital improvement fund for each property; since the effective 2020 dues (2020 - credit) reflects actuals (credit given back, not to to capital improvement fund), this is probably the best view into the actual costs of running the DVC resorts we have

Yes, that I understand. But it also begs the question of why it was so off. There's also might be a correlation with DVC using RIV points to square up with April-Oct UY's. Perhaps they decided to contribute to the dues which ends up producing a larger credit. Something makes RIV unique since it's not their first rodeo and budgeting operating costs should be that far off.

edit - RIV dues are remaining relatively flat for 2021 compared to 2020, yes? That would almost seem to be excessive budget again if this really is because of too large of operating expense budget but at least it flows into cap reserves the next year if it is.

 

[pkrieger2287]

Join Pete LIVE tonight at 7:30pm, EST as we discuss today's DVC Condo Association News and field some of your questions!
This live stream will be featured exclusively on the DVC Fan Facebook Group. See you then!

https://www.facebook.com/groups/dvcfan1

 

[_auroraborealis_]

Was disappointed by that too, but I assume rooms are already booked for 2021 so that can't take them out of inventory?

Given that said refurb was to start in 2021, it wouldn't have been especially difficult to not allow them to be booked in the first place, which is now what they are doing with VGF, Poly and Aulani, and what they did with Saratoga, and what they have done in every other refurb ever.

 

[_auroraborealis_]

well thinking of it another way, all the Walt Disney World resorts were open the same amount of time in 2020 so their actual cost will have been affected similarly

budgets / dues are future projections / calculations like you mentioned and if there is a surplus, it normally gets moved to the capital improvement fund for each property; since the effective 2020 dues (2020 - credit) reflects actuals (credit given back, not to to capital improvement fund), this is probably the best view into the actual costs of running the DVC resorts we have

Counterpoint: When each resort opened, each DVC resort attached to a Disney resort hotel had different contribution margins to resort amenities. VWL and CCV, for instance, are paying for the pools without the help of WL. But WL pays less than a third of the pool costs - the bulk is already carried by the DVC.

BWV is closer to a 50-50 carry of the pool costs, and is not being helped by the BWI side. Poly probably lands 50-50ish for carriage, but is paying the whole thing. I don't even want to do the mental math around AKV, because normally there are 900 hotel units helping carry the pools, but Kidani is pretty big too, and I expect Disney did throw in some help around animal care expense.

So how much surplus there was might also depend on contribution factors.