Poll: Are you going to buy at Riviera

[ziravan]

I agree with most of what you said. We just have too many question marks right now and I agree, I can't believe term isn't a bigger deal for people.

I LOVE BCV. I love the location and the pool. I would totally buy there if it wasn't for the 2042 expiration date. I can't fathom the prices people pay for those expiration dates. It just isn't worth it to me.

And I agree, the lost ability to stay at other DVC properties is a huge hit.....but how big a hit I don't know. While the ability to get out of it is a consideration for me I guess, unlike other people, I just don't look at it as an investment. It's a timeshare. If I can get out of it at all and get part of my money back I am pretty happy with that. I realize I will take a hit if we sell but I don't think anyone is predicting there won't be a resale market for Riviera contracts, just debating what the hit will be.

I saw someone comment that they wouldn't buy Riviera because the resale restriction would make it lose its value, which is a valid position to have, but then they went on to say they wouldn't buy a new car if it was going to lose a huge chunk of its value as soon as you drive it off the lot....... There is not an emoji to properly express my reaction to that comment but I'm sure you can imagine.

Unless they limit the home resort booking window for resale buyers, the result of the policy will be resale buyers crowding the 11 month window. Within 10 years, this will be a huge problem for resale and direct owners alike.

And if they DO shorten the resale booking window? Values will tank even more for resale contracts.

 

[Turn the Page]

Unless they limit the home resort booking window for resale buyers, the result of the policy will be resale buyers crowding the 11 month window. Within 10 years, this will be a huge problem for resale and direct owners alike.

And if they DO shorten the resale booking window? Values will tank even more for resale contracts.

Doesn't that happen anyway though? Owners book at 11 months and then try to switch at 7?

 

[zavandor]

Doesn't that happen anyway though? Owners book at 11 months and then try to switch at 7?

Booking at 11 months is a problem only on the very busiest periods and only on some rooms. Most owners can book what they want at 11 months and most of the year way into their home resort priority window.
If you couldn't book anything else at 7 months, would you wait to book and risk to be shut out? No, you wouldn't and no resale buyer will. The result will be probably a very hard time for everyone at the resort to book at 11 months.

 

[DVC Doc]

I have been seriously thinking about adding on at Riviera because I do love the design and find the 2-person studios quite attractive. But, it's probably going to be around $180/pt and the resale restriction is a major turn-off.

So happy with our decision to have sold off a majority of our DVC and purchased a vacation townhome within spitting distance of the Magic Kingdom. Fireworks show every night and love having the flexibility to just go whenever we want without any booking hassles!

 

[bobbiwoz]

....IF* I add on in the future it will be at Reflections.

I would have to sell a bundle of our (1400) points, but if Reflections speaks to me, I would buy there. I love Bay Lake area.

 

[skier_pete]

I saw someone comment that they wouldn't buy Riviera because the resale restriction would make it lose its value, which is a valid position to have, but then they went on to say they wouldn't buy a new car if it was going to lose a huge chunk of its value as soon as you drive it off the lot....... There is not an emoji to properly express my reaction to that comment but I'm sure you can imagine.

It is certainly hard to predict, but it's not unreal to say that Riviera will resale lower than any other WDW resort which would be probably $70-$90 a point

Well, I think the issue is we are looking at Riviera maybe dropping from $190 / point direct to $70- $90 / point resale. (Versus CCV which goes from $185 to $150-$155 resale.) A car drops, but it doesn't lose 60 -70 % of it's value the second you drive it off the lot. That's more like a boat. Imagine buying a 150 point contract for $28,000 and two weeks later it's worth $12,000.

 

[skier_pete]

Unless they limit the home resort booking window for resale buyers, the result of the policy will be resale buyers crowding the 11 month window. Within 10 years, this will be a huge problem for resale and direct owners alike.

And if they DO shorten the resale booking window? Values will tank even more for resale contracts.

This is for sure.

Imagine that: You can ONLY book at this one resort - and you have to wait for all the direct owners to have a shot at rooms first. So forget ever getting a studio of any kind in the fall, and forget those tower studios EVER. (Those are going to book at 11 months ALL THE TIME folks.) I wouldn't touch that for more than about $40 a point - because I'd need to be able to buy enough points for a 1-bedroom.

TO THOSE CHOOSING MAYBE: If the point charts come out and it swings you one way or the other - can you change your results so we can get the most accurate poll results? Thanks!

 

[bwvBound]

I voted, "NO WAY - I was never even considering it." but seriously, that is too loud.
The simple truth: Our last add-on was in 2007 and we are done buying points at WDW. (I'm leaving a tiny window open for additional west coast options ... but in reality, we don't need more timeshare.)

Our timeshare buying days were mostly before buying a house with some land in the back country. When our lives were crammed into a condo, the office and the commute between home and office ... we really needed to get away, often. Once we bought the house, I had an easy answer during timeshare sales presentations, "But honey, I really want a tractor." The mantra: Tractor before timeshare!

So now I have the house, horses and tractor. I want a barn! (There is alway something, right?) I want a better horse trailer, a bigger truck to pull the better horse trailer, more livestock panels, a roto harrow, etc. I've gained a whole world of activity and love every minute. The need to get away has faded a bit. I've got plenty of fun stuff to keep me happy around the yard. DVC's Riviera doesn't compete. Not in the least.

 

[CraigInPA]

I'm a resale BLT and later direct purchaser of BLT. Initially, I was a soft "no" on Riviera. However, when there was a chance that the "Tower Studios" might have been a luxury studio with a king bed, Riviera became a "maybe". With the Tower Studio being the complete opposite of the luxury studio we were hoping for, and the newly announced resale restrictions (we might be able to use 15 years, so future resale value is a consideration), we are now in the "No, I was, but not now" group.

 

[tidefan]

I think we are good on points, and if we were to add more, it would be to get more VGF or BLT points...

I think the biggest effect that this may have is that I remember, say 5 years ago, if you were on a Disney Cruise, for instance, all they had to do in the sales meetings was to give out the DVC hats at the DVC meeting and point interested people to the current members. I always thought that was DVC's most effective sales force. Fast forward to today, and I don't know if any member would be as enthusiastic to push the product for DVC, especially with what they are charging per point now vs. when most of us purchased...

 

[Matty B13]

I wonder if a resale owner of Riviera wasn't able to book anything at all during their current UY, if they would have any legal standing to sue DVC over not having access to thier deeded timeshare? If literally every unit was booked at Riviera during their restricted booking window and they couldn't book one unit, could they sue over this?

Hope some of the lawyers could chime in on this.

 

[crvetter]

I wonder if a resale owner of Riviera wasn't able to book anything at all during their current UY, if they would have any legal standing to sue DVC over not having access to thier deeded timeshare? If literally every unit was booked at Riviera during their restricted booking window and they couldn't book one unit, could they sue over this?

Hope some of the lawyers could chime in on this.

Not a lawyer, but I'm assuming this falls on the fact that the original owner could have used those points and chose to sell at an inconvenient time. I feel like the right to book a room is based on the contract and UY rather than owner and UY. So the contract could have booked a room but the original owner decided to sell.

 

[Matty B13]

Not a lawyer, but I'm assuming this falls on the fact that the original owner could have used those points and chose to sell at an inconvenient time. I feel like the right to book a room is based on the contract and UY rather than owner and UY. So the contract could have booked a room but the original owner decided to sell.

I wasn't just talking about the first year of ownership by the resale owner, but say maybe the third year that the resale buyer owned the contract and because of the restricted booking window, that not one unit was available to book in their UY. I know this is highly unlikely to happen with the size of the resort.

 

[crvetter]

I wasn't just talking about the first year of ownership by the resale owner, but say maybe the third year that the resale buyer owned the contract and because of the restricted booking window, that not one unit was available to book in their UY. I know this is highly unlikely to happen with the size of the resort.

I see what you are saying though technically as long as their booking window is before the rest of DVC members that can trade into Riviera they will always be able to “theoretically” use their points. Though I suspect it might not be for consecutive nights or the right size unit say, for example if resale owners were 8 months, direct 11 months, and DVC exchange at 7 months.

Though the POS and BVTC says the home resort priority at minimum needs to be 1 month for its owners (doesn’t distinguish between resale or direct here) in order for it to be apart of the club. So, I would think, resale owners will always get 1 month to use their points before other non-home points can trade in.

Though currently they only have language to say, DVC reserves the right to change resale owners booking windows. The language didn’t say how and what window (home resort or trading to other resorts). Since it was in the general section of restrictions, they could mean IMO, if they allow them to trade into other resorts, they might be able to do so at a different time than 7 months, or they meant home booking window. It was a broad section declaring their powers to restrict trading (allow/disallow) and modify booking windows—along with them selling an add-on for the points to be unrestricted I’d they also wanted to. As of right now they only disallowed trading.

So I’m with you that it’s a real possible concern for actual usage but I think in theory they wouldn’t be shut out.

 

[Phatscott25]

I'm also one of the minority that said maybe. I'm torn because ever since the resort was announced, I've been all in. The look of it appeals to DW and I. I've liked it since the first rendering. I want an EPCOT resort but refuse to buy a 2042 resort. I like the rooftop signature, Skyliner, etc. Up until they announced the restrictions, I was a sure buy. In fact, I have money set aside and it was my intent to buy a large contract.

I've had some time to consider it. When the restrictions were first announced I went from a hard yes to a hard no. As the time has progressed I've changed my tune based a few factors. Obviously there's the reasons above. But as others have said, I never bought DVC with the intent of selling down the road. It's not an investment it's a luxury purchase to use for vacations. High resale value is nice by-product though and can't be ignored. I figure though if God forbid something happens that would require me to sell I own 1000 completely paid off points at other resorts that will sell for more than I paid. I'll be OK.

Am I still going to buy the big contract I saved for? No. But if the point charts show the Tower studios as similar cost to BWV standard I will buy a fixed week F&W contract for late Oct/early Nov.

 

[Keetchino]

I was initially a soft no. I think the theming is pretty “blah” and looks like any other generic luxury hotel, but if the price was right and it had other selling points (like a DVC lounge or something) I could possibly have been persuaded. However, after the new restrictions as well as them screwing around with point charts and toeing the line into some, dare I say, shady-ness (ever-increasing lockoff premiums? Changing “rules” whenever they want?) I’m going to have to give this resort a resounding “No”.

 

[LAX]

I wonder if a resale owner of Riviera wasn't able to book anything at all during their current UY, if they would have any legal standing to sue DVC over not having access to thier deeded timeshare? If literally every unit was booked at Riviera during their restricted booking window and they couldn't book one unit, could they sue over this?

Hope some of the lawyers could chime in on this.

Not a lawyer, but I can't imagine anyone not able to find any villa on any given day. While what's available may not be the date(s) and/or villa type the resale purchaser can use, but some villas have been made available to that resale owner at some point. Hence, I don't think anyone can successfully sue DVD for not being able to book their share of Riviera as there is no guarantee of availability for a particular time period or villa unless it's a fixed week contract.

LAX

 

[kboo]

We were also interested in Riviera, possible direct, definitely resale, until the restrictions were announced. I am also in a "wait and see" mode for resale. I don't see direct being a desirable option for us with these new restrictions.

I'm in wait and see as well - we originally wanted to have an EP home resort and a MK home resort, but decided not to buy BWV or BCV due to their expiration. BUT - the resale restrictions put a big damper on it and we may do just as well trading in since we are grandfathered.

 

[gharter]

We are fortunate that we are grandfathered in and can book ther if we wish. however, that is not likely. i suspect we will enjoy the restaurant and the lounge there, but very likely never stay there.

 

[skier_pete]

I wasn't just talking about the first year of ownership by the resale owner, but say maybe the third year that the resale buyer owned the contract and because of the restricted booking window, that not one unit was available to book in their UY. I know this is highly unlikely to happen with the size of the resort.

Others have said the same - but the fact is that as long as they gave resale members some time advance from the 7-month full-DVC access, it's extremely unlikely you would ever see ALL units occupied. In reality the problem that could occur is you only own 100 points, and ALL studios are occupied, your only option becomes a 1-BD, and suddenly you can't take a full week, only 4 days. Or you can't get consecutive nights. The funny thing is that initial resale will put you well behind the direct owners, but if you think about it, the longer you go and more of the resort goes to resale, the easier it would be to book in that secondary window. (I wonder what percent of a resort ends up being resale eventually. Does resale owners ever become the majority of owners? Let's say is Beach Club mostly direct owner or mostly resale now? No way to tell.)