Have any other DVC owners lost their points because of Disney's closures?

[conandrob240]

What does the latest announcement that just came out mean? I’m confused. I’m in quite a pickle. I rented around 500 points to someone traveling 4/30-5/9. I have a June use year and these were points from the 2019-2020 use year meaning they’d expire May 31, 2020.

the email that just came out says current use year but I not sure what that means for me. Is it saying those points can be used through May 31, 2021?
i realize right now, I’m about 4 days outside the new announcement of 30 days. I’m just wondering if the policy extends and resorts stay closed beyond this next 30 days), is that language suggesting I’ll be able to,use the points through May 31 2021 or 2020?

 

[Sandisw]

What does the latest announcement that just came out mean? I’m confused. I’m in quite a pickle. I rented around 500 points to someone traveling 4/30-5/9. I have a June use year and these were points from the 2019-2020 use year meaning they’d expire May 31, 2020.

the email that just came out says current use year but I not sure what that means for me. Is it saying those points can be used through May 31, 2021 ( if the policy extends and resorts stay closed beyond this next 30 days)

If you have 500 points that are 2019 UY points..meaning they were valid until May 31st, 2020, then those points, if that reservation is canceled, those points would still expire on May 31st, 2020 because you are beyond your banking deadline.

If any of those 500 points are borrowed from your 2020 UY, those points will be put back and you won’t lose them,

DVCM says they are trying to figure out if they can find a way for people who have expiring points during the closure or those beyond the banking deadline...which would be April and June 2019 UY points..to help out.

But, they can’t make the decision regarding adjusting banking rules until they have a better idea of the situation.

 

[mickeyluvr]

"TO say there's nothing they can do because they need to protect members is to hold non affected members above affected ones. To say there's nothing they can do is saying it isn't worth the effort and they don't care."

Thanks Soap, my point exactly. Then to add insult to injury they let some people bank their points (even though they were past their banking deadline), tell others (like me) not to worry, I'll be able to do the same if this thing continues, and then a few days later say "Sorry but you're SOL". I think I have every right to be upset.

I have absolutely no problem having my vaca cancelled, but I have a big problem with being treated like a second class citizen.

 

[conandrob240]

So, you are telling me that right now if you have a reservation booked to travel this week and you used points from an April 2019-2020 use year, you’d simply just lose all those points? That can’t be right. They can’t do that. Isn’t 2019-2020 considered last years use year? And 2020-2021 is CURRENT USE YEAR?
If so, the new email from about an hour ago suggests the points will go into current use year (not last years use year)

 

[Maistre Gracey]

The fairest solution in my mind is to have Disney buy a part of Riviera themselves and open it up to members. They could temporarily drop resale restrictions while those who lost their points during this time either book there, or owners at other resorts book there and the impacted owners book at those resorts. This would only have to be done for a couple of years. Once those points are used up, Disney can sell those points (are they really thinking they would sell out in a down economy anyway?) and the resale restrictions can go back into place.
That way, the only things being lost are housekeeping and wear and tear on some rooms that were previously not being planned on being used for some time.

Or, as I suggested earlier, ramp up buying ROFR and use those points. Once the system is back in balance, sell those points.

 

[Sandisw]

So, you are telling me that right now if you have a reservation booked to travel this week and you used points from an April 2019-2020 use year, you’d simply just lose all those points? That can’t be right. They can’t do that. Isn’t 2019-2020 considered last years use year? And 2020-2021 is CURRENT USE YEAR?
If so, the new email from about an hour ago suggests the points will go into current use year (not last years use year)

Correct. if someone had April 2019 UY points in a March reservation, they expire March 31st, 2020, because they would have needed to be banked by November 30th, 2019.

It is the risk of using points at the end of a UY. However, given this unique situation, DVCM is trying to figure out a legal way to help members who are at risk, In normal times, it wouldn’t even be considered and points would be lost,

Since they don’t know how long this will last and how many points it will involve, they can not commit to changing the banking rules yif it means an overload to the system in the next year or two that can’t be accommodated. I do believe if it turns out to be doable, it will be done,

June UY members are still within the window to deposit to RCI..April 15th deadline ..and some members are being told to do that because there is no guarantee that rules will change to allow banking. Not ideal, but it may be better than a complete loss.

To clarify, a UY is Defined in terms of the calendar year it starts. So, right now, we are in the June 2019 UY. Yes, those points are valid in part of 2020, but its not defined as the June 2019/2020 UY.
June 2020 UY doesn’t begin until June 1st, 2020

 

[Ben E N]

Or, as I suggested earlier, ramp up buying ROFR and use those points. Once the system is back in balance, sell those points.

They would have to have cash on hand to do that, though. That would work, but I think the Riv plan would cost them less overall.

 

[JenniferYoung44]

I think we are seeing the aspect of a points based timeshare and the effect it has when closure happens,

But, there is really is no way around loss of use for some. Like I said, we have no way of knowing how many points we are talking about...and points represent rooms.

Say they decide to let all these points back next year but then there is no availability for those or other members points. Would that be better?

Can you imagine if people are faced with only bungalows or cabins?

We just don’t have all the information that DVCM has and that we have to trust that if they don’t make any adjustments to banking rules or expiring points, they can’t because of its future effect.

If they do, people have to be prepared that it might not be the same solution that they want it to be,

A great solution, though I don’t know if it’s legally feasible would be for them to add some of the Disney owned villas (the one they book to non members) into the member pool equal to the amount of points being added to the pool by letting people who would otherwise be losing points use them over the next year or teo

 

[FreeTime]

Geez...long term sustainability is protected for who? The members, of which I am one and so is the other person.

I honestly can't believe your position on this lol. Cash reservation gets their money back, Borrowed from a future year gets points back. I understand how the system works I know there is risk. But that's MY risk, if I can't go I can't go because I'm sick or whatever I can't blame disney. That isn't what happened THEY AREN'T OPEN! If they aren't open how is that my risk; did you got to devry?

TO say there's nothing they can do because they need to protect members is to hold non affected members above affected ones. To say there's nothing they can do is saying it isn't worth the effort and they don't care.

My position is the same. It is great that DVD has been doing some things but they don’t need to do anything. We purchased knowing there were risks. I don’t want them to make any decisions that is going to impact me later because of extra stress on the system. I have a reservation that is impacted and I don’t care. I can’t believe people who go year after year are so concerned about their points when there are so many more important things to worry about at this time. If one is fortunate enough to own DVC then they are also likely fortunate enough to be in the position to take a financial loss on lost points / dues that they paid with no benefit. If they aren’t in this position, the probably shouldn’t be owners.

 

[Maistre Gracey]

They would have to have cash on hand to do that, though. That would work, but I think the Riv plan would cost them less overall.

I’m betting they can get the cash. It wouldn’t be billions....

I’m not sure what the laws are, but wouldn’t DVD also have to come up with money to purchase RIV? Honestly don’t know the laws on playing a shell game with their own money.

 

[conandrob240]

Correct. if someone had April 2019 UY points in a March reservation, they expire March 31st, 2020, because they would have needed to be banked by November 30th, 2019.

It is the risk of using points at the end of a UY. However, given this unique situation, DVCM is trying to figure out a legal way to help members who are at risk, In normal times, it wouldn’t even be considered and points would be lost,

Since they don’t know how long this will last and how many points it will involve, they can not commit to changing the banking rules yif it means an overload to the system in the next year or two that can’t be accommodated. I do believe if it turns out to be doable, it will be done,

June UY members are still within the window to deposit to RCI..April 15th deadline ..and some members are being told to do that because there is no guarantee that rules will change to allow banking. Not ideal, but it may be better than a complete loss.

Sorry, not buying “it’s the risk of using those points BS”. It’s a situation where they are unable to fufill their obligation of my stay (understandably so but still a failure to provide me with a stay). They need to allow people to use those points by extending the Expiration date. Period. No other solution is acceptable

 

[Sandisw]

I’m betting they can get the cash. It wouldn’t be billions....

I’m not sure what the laws are, but wouldn’t DVD also have to come up with money to purchase RIV? Honestly don’t know the laws on playing a shell game with their own money.

Once declared, my understanding is they are now on the hook for the dues of those points.

 

[conandrob240]

My position is the same. It is great that DVD has been doing some things but they don’t need to do anything. We purchased knowing there were risks. I don’t want them to make any decisions that is going to impact me later because of extra stress on the system. I have a reservation that is impacted and I don’t care. I can’t believe people who go year after year are so concerned about their points when there are so many more important things to worry about at this time. If one is fortunate enough to own DVC then they are also likely fortunate enough to be in the position to take a financial loss on lost points / dues that they paid with no benefit. If they aren’t in this position, the probably shouldn’t be owners.

This is ridiculous. Of course people are worried about points. My points in question are 500 and worth $7500 or more. That’s something worth worrying about

 

[Sandisw]

Sorry, not buying “it’s the risk of using those points BS”. It’s a situation where they are unable to fufill their obligation of my stay (understandably so but still a failure to provide me with a stay). They need to allow people to use those points by extending the Expiration date. Period. No other solution is acceptable

You asked a question and I provided you with the answer and to why DVCM is trying to find a way around the normal rules per our contract,

I am sorry it’s not what you want to hear but currently, that is the policy in place.

 

[conandrob240]

No, you provided an answer and then a commentary on “that’s the risk ...” suggesting the owner had some accountability.

 

[Sandisw]

A great solution, though I don’t know if it’s legally feasible would be for them to add some of the Disney owned villas (the one they book to non members) into the member pool equal to the amount of points being added to the pool by letting people who would otherwise be losing points use them over the next year or teo

I think that if the closure had stayed to just 2 weeks, then the Disney owned points would probably have been enough to absorb it, and we would have seen them allow April and June UY 2019 points to be banked.

Its the extended closure that is preventing them from making other decisions because they just don’t know how many points yet they are talking about and once known, they can figure out what can be done

 

[Ben E N]

I personally think that Disney will have to remain closed until at least mid-July. I hope I'm wrong, but Shanghai is still closed, there were many less confirmed cases in China, and their numbers are decreasing, not increasing.
Disney probably isn't announcing anything now because they know this will impact potentially millions of points, and they don't want to tell us one thing now, realize they can't apply it to everyone affected, and then have to change plans midsteam. They need to see how big the problem ends up being before they can respond.

(Haha, Sansisw, jinx! You posted the same thought as I was writing it Great minds think alike I guess)

 

[Sandisw]

No, you provided an answer and then a commentary on “that’s the risk ...” suggesting the owner had some accountability.

I am sorry, I thought I was explaining that is the typical risk and why they expire, which is the way in interpreted your question.

Currenlty, normal rules apply for those points, so those traveling at the end of their UY are stuck. Not their fault, but the reality of the system currently in place.

 

[FreeTime]

This is ridiculous. Of course people are worried about points. My points in question are 500 and worth $7500 or more. That’s something worth worrying about

And if you can afford the dues on 500 points you can afford to not worry about the “worth” you place on them. The points aren’t worth more than what the market will bear at the rental or resale price. That can fluctuate anytime. If that “worth” goes to $0 you can’t blame DVD as you took the risk to spend your discretionary income on luxury.

 

[Ben E N]

And if you can afford the dues on 500 points you can afford to not worry about the “worth” you place on them. The points aren’t worth more than what the market will bear at the rental or resale price. That can fluctuate anytime. If that “worth” goes to $0 you can’t blame DVD as you took the risk to spend your discretionary income on luxury.

I don't find that to be a fair statement at all. You don't know people's finances. Some may save everywhere else all year in order to afford that one big Disney trip, and don't have the available cash to spend it elsewhere. While that may not be true of everyone, you don't know it isn't true for some.