Disney Vacation Club has committed to extending the life of points at risk of being lost due to the COVID-19 closure, while temporarily limiting members' ability to borrow future points.
In a move which will ease the minds of many owners, Disney Vacation Club has extended the expiration date of points impacted by the Coronavirus closure. Points with April and June 2019 Use Years (which were to expire March 31, 2020 and May 31, 2020, respectively) will be extended for one additional year. Points from April and June 2018 Use Years which had previously been banked into 2019 will be extended for an additional six months.
To compensate for the lost availability and returned points, DVC is temporarily allowing owners to borrow only 50% of their points from a future Use Year. No time limit has been placed on this restriction, with DVC committing to monitor inventory and return to normal rules as soon as possible.
Finally, DVC addressed member dues, stating that they are considering issuing a credit for unused monies from the 2020 budgets. However, this determination cannot be made until later in the year.
The full statement from Disney Vacation Club follows:
Dear Disney Vacation Club Member,
I hope you and your family are staying healthy and doing well during these trying times. The impacts of COVID-19 are testing us all in ways we never imagined, yet we continue to be inspired by stories of care and compassion in our local communities and around the world.
Our team at Disney Vacation Club is deeply appreciative of the patience and understanding shown by our Members – and the helpful feedback and kind thoughts shared with our Cast.
Looking ahead to better days, our team is committed to keeping you informed and providing flexibility in your membership given the unique circumstances of this crisis. Based on your feedback, we are taking additional actions beyond those we previously shared with you:
We know that some Members had reservations for Disney Vacation Club resort stays during the closure period using points that are set to expire. 2019 Use Year points for April and June that are set to expire in 2020 and that were used for these reservations will be extended for one year from the current expiration date. 2018 Use Year points for April and June that were banked into 2019 and used for these reservations will be extended for six months from their current expiration date. Please note this temporary policy only includes expiring points that were used to book a stay between March 12 and the end of the closure period and that involve a reservation cancelled after February 29. In addition, to better support Member availability, Disney Vacation Club will not extend the life of our expiring developer points.
In light of this and to help with resort availability in the coming year, beginning today Members who want to borrow points to complete a reservation will temporarily only be able to borrow up to 50 percent of their future Use Year points per contract, as permitted by your Home Rules and Regulations. Doing this will help manage inventory and accommodate more Members who want to schedule their vacations once the resorts reopen. Points already borrowed for a stay outside the closure period will be honored, even if they are above the 50 percent threshold. We will continue to monitor our inventory and re-evaluate, with the goal of returning to our standard policy as soon as it is appropriate to do so.
Finally, some Members have had questions about how the closure is affecting their association’s annual dues. While lower operating costs are anticipated for each condominium association because of the closures, there are many unknowns ahead as the resorts return to operation. Our commitment to Guest and Cast safety remains our top priority, and changes may be implemented to the way we operate, which may add some new costs. Given the unique circumstances of this situation, the proposal is to issue a credit to Members in mid-December as part of the distribution of Annual Dues Statements for 2021 if their association has an operating surplus (as opposed to rolling all surpluses into reserves).
These changes should provide helpful support to the entire membership as our team works toward making Disney magic for you and your loved ones just as soon as possible. We will continue to evaluate the situation, make changes to policies as they become necessary and keep you updated. More information on these policy changes can be found on our website, www.disneyvacationclub.com.
All of us at Disney Vacation Club are thinking of you and your families and can’t wait to welcome you home.
All the best,
Signature
Terri A. Schultz
Senior Vice President
Disney Vacation Club, Guided Adventures & Expeditions and Golden Oak
