Fellow member "DVC Mike" submitted a report from today's 2009 Disney Vacation Club Condo Association meeting. Topics include the valet parking situation, Saratoga Springs pool expansion and on-line reservation capabilities.
The meeting covered the 2010 budgets. During the presentation, the point was made that from 2005-2008, DVC only had a 6% CAGR while the industry average was 12%. Jim Lewis said he was proud of this, including the fact that DVC has never had a special assessment. During the Q&A, one member asked why dues went up more than the Consumer Price Index. Lewis pointed out that 65% of our dues go to cover labor, and health care and other related labor costs have not mirrored the CPI.
Two key resort resolutions were passed by the Board. The first is to relocate the airline check-in area at OKW from near Olivia’s to adjacent to the luggage area, and to construct a share canopy. This would cost about 4 cents per point and would be paid out of reserves.
The second is to replace the pool at the Paddock area of SSR. A new feature pool will be constructed that will triple the size of the current pool. The new pool will be 3,300 sq feet and wiil feature a lighted, 146-foot long slide, a larger pool deck with more chairs, another spa pool, as well as a 1600 sq foot wt play area for kids. There will also be a quick service dining facility that will serve burgers and fries, and perhaps a refillable mug station. This will cost about 41 cents per point and will be paid out of capital reserves.
The loan that DVC took out to pay for the water intrusion repairs at HHI will be paid off in 2012. The additional land at Vero Beach that they talked about selling off at the last meeting is still not sold.
There were presentations by Steven Brettholt, CPA regarding the annual audit and Chris Stewart, the director of legislative and business affairs for ARDA. Chris stated taxes are the #1 issue that ARDA is fighting, including timeshare exchange taxes, nightly occupancy taxes, and property taxes. Mr. Lewis said that while some other timeshares make a contribution to ARDA a mandatory fee for their owners, DVC is proud that all contributions from DVC members are voluntary.
Jim stated that despite the economy, DVC is in great financial shape. He said the capital reserves were invested only in interest bearing accounts and not in the stock market.
He addressed the concerns of some that the special discounts and offerings at WDW might appear to be de-valuing our DVC membership. He said the economy may go up and down and offers come and go, but DVC members are in it for the long term and will save money over time.
He has been getting complaints about room availability at peak times. He stated that DVC is “not building a church for Easter Sunday”. He recommended that people book early for peak time reservations.
There was a lot of boos when the disappearance of the Valet Parking perk was announced. Jim said valet parking was offered by a third party and that the 3rd party was offering complementary valet parking to DVC members but since changed their mind. Jim said they are still trying to negotiate a valet parking discount for members, but that free valet parking is a thing of the past.
He commented that RCI is working out much better for member exchanges that Interval International ever did. He said the percentage of matches has gone up with RCI as compared to II. He said 60% of members are getting instant matches or matches with 24 hours.
After the official meeting adjourned, we were entertained by a Hollywood director comedian, who was actually quite funny. He made several jokes about how Mr. Lewis doesn’t have to pay for parking (in fact, quite a few of the jokes lambasted DVC). Mickey and Minnie Mouse made an brief appearance as well.
They showed movie trailers for “Alice in Wonderland” starring Johhny Depp as the Mad Hatter (premiering 3/4/10), “The Sorcerer’s Apprentice” starring Nicolas Cage (premiering 7/16/10), as well as the animated movie “The Princess and The Frog”, which premiers this weekend.
They discussed the new “Give a Day, Get a Disney Day” for 2010 where people can volunteer using the Hands On Network.
They highlighted the new DVC offerings (Kidani Village, THV, BLT (those views! Those dues!), and VGC, as well as the two Doorway to Dreams stores in the Chicago and Long Island areas. Jim said there were more Doorway to Dreams stores to come, but didn’t mention locations.
They showed a video from Joe Rohde (the imaginer behind Disney’s Animal Kingdom as well as the new DVC in Ko Olina).
They talked about the new DCL itineraries in 2010 and 2011, including the Mexican Riviera, the Mediterranean, and Alaska. The Disney Wonder moves to Los Angeles in 2011 when the Disney Dream arrives. The 2011 Member Cruise will be on the new Disney Dream. They showed us a simulated video of what it would be like to ride the new AquaDuck water slide on the Disney Dream.
Much was said about the efforts to become more green, including using CFL lighting instead of incandescent and the new solar panels and heat pipes at Vero Beach. WDW has a goal of reducing overall energy usage by 10% by 2013.
Member Satisfaction with their overall DVC membership is at 90% (excellent or very good), while Member Services is at 91% (up 2% from last year) and Member Accounting at 89%.
Speaking of Member Services, they announced that the on-line booking system for DVC members should be coming on in phases starting in the fall of 2011. Also, starting this Spring, members can pay for the Disney Dining Plan when they book the reservation, instead of when they check-in. DVC can charge to one or more credit cards, and will be able to keep your credit card on file.
For 2010, there will be a refurb of the pool area at VB, including the slide, pool pump, filtration system). BWV’s ongoing room refurb should be completely finished by February 2010. VWL will get new drapes and shears in 2010, as well as new MP3-compatible alarm clocks. BCV will get an extensive external rehab in 2010, including new balcony furniture. They’ll finish the jogging trail around BLT, and are looking to create a fire pit outside BLT. OKW is getting a room refurb starting late spring of 2010, covering painting, furnishings and flat screen TVs.
During the Q&A afterwards, someone questioned the reason to check-in for the TOTW lounge on the 1st floor of BLT. They said they wanted exclusivity and control, but they will be looking to loosen up a bit.
A few people asked “Why no FOXS News Channel?” They mentioned that next year they will be rolling out an improved cable service, but couldn’t comment on which channels might be included – only that service will be expanded.
Finally, someone asked about the lack of sheers in the windows at BLT. When the GM mentioned she’s only heard this complaint twice since the resort opened, the audience groaned. She said she will look into this.
Our sincere thanks to Mike for the detailed report!
