Thinking of selling my DVC points...

[GadgetRick]

Ok, owned 230 OKW points for quite a while now. Bought them from my uncle who'd bought them from the developer when they first went on sale. Have always used my points. However, the last couple of years has pushed me to the edge and I'm seriously considering selling our points.

The first thing which has become quite annoying (price of success of the product I guess) is, it's next to impossible to get stays at other resorts when we want/need them. I used to be able to go anywhere with little hassle--maybe change my plans slightly--but it's gotten crazy trying to do so. I know, I know, book early, etc. Problem is, I can't always book that far in advance.

It's been (relatively) easy to get into OKW (as has been written about around here) but I don't always want to stay there although it's still (imo) one of the nicest DVC resorts. But would be nice to stay in other resorts.

Also, I've noticed this move by Disney to sell the rooms to non-DVC members which seems to just make the problem worse. I understand why they do it but, it's frustrating.

It also seems like the perks are drying up. Yeah, you can get a little discount on park tickets and some discounts on food if you eat when/where/how they want you to. But, other than that, not much else offered (yeah, I know about the discounts on the tours and everything else--they're all pathetic, imo).

So, although we love Disney--and would still go 1/2 times a year--I'm thinking of selling off my points while they still have some value. No, I did NOT pay the extra money to extend the years. That is another thing I think is a bit much if you ask me. Overall, I've become quite disgruntled with DVC as a whole.

Anyway, anyone know what price DVC won't keep the points these days for OKW? Just want to price it correctly.

We love Disney--and will continue to go--but just not feeling the DVC love any longer...

Thanks.

 

[craftemp]

I just sold a contract at $76 per point - Disney let it go at that.
I am waiting to hear about a 2nd contract that sold for $76
Judy

 

[Culli]

I can understand the frustration as I too want to be able to stay at the other resorts. I have been fairly lucky so far but still hoping for a waitlist in Nov. But if you sell your points and still go to Disney 1-2xs a year what will you do for accommodations - rent pts, offsite, or WDW properties? Hate to see you sell your pts out of frustration and then wish you had them back. I have seen them priced as low as $67 a point - not sure if they make it through ROFR, but the range seems to be between 72-76 pt.

For me 2 things got me to stick with DVC -
1. if you like to stay on property at least every other year
2. Want more than the standard hotel room

We save on using gardengrocer to bring us groceries and don't eat out hardly at all. ME allows us not to have to rent a vehicle. I look at everything above that as gravy. Now I said I TRY to convince myself, I see the eroding of "perks" a little annoying as well. However, the 2 items I stated make my points still worthwhile. We will use other inexpensive TS to supplement our non Disney vacation needs.

 

[laxmom]

Here is a post from another site that keeps a record as people report if they pass ROFR or not. It is updated frequently and will give you the info you need. Good luck with your decision.

http://www.disboards.com/showthread.php?t=1710667&page=102

 

[timeos2]

It also seems like the perks are drying up. Yeah, you can get a little discount on park tickets and some discounts on food if you eat when/where/how they want you to. But, other than that, not much else offered (yeah, I know about the discounts on the tours and everything else--they're all pathetic, imo).

So, although we love Disney--and would still go 1/2 times a year--I'm thinking of selling off my points while they still have some value. No, I did NOT pay the extra money to extend the years. That is another thing I think is a bit much if you ask me. Overall, I've become quite disgruntled with DVC as a whole.

Anyway, anyone know what price DVC won't keep the points these days for OKW? Just want to price it correctly.

We love Disney--and will continue to go--but just not feeling the DVC love any longer...

Thanks.

You are mirroring the frustrations and the lack of control that ended up spurring us to dump our DVC many years ago. You are wise to think about it now as the value of the "old points" is a a decided downward trend that is very likely to accelerate in the next year or two. DVC ha admitted they aren't worth as much anymore with the "extend" option so now who knows where the floor will be.

It seems like something around $65 to $70- with $76 on the high end - is the going rate but don't wait too long. If you want to cash out while you can still get some decent cash out make your move. When its $60 or less - and it will be - it's too late.

 

[SDKath]

We have 225 points at AKV. I have had great luck booking with those points:

1) NY week at AKV (booked at 10 months out)
2) 6d at BCV during Food and Wine (booked at 8 months out)
3) 3d at BWV (boardwalk view) btw Xmas and NY for my sister; booked just last week.

I think availability is actually impressively good with DVC. Or I have just been very lucky so far. I am definitely NOT calling at 11 months out at 6am PST to get my desired days so far -- which is a huge relief.

Good luck selling! Try Redweek to sell it yourself first to avoid the 10% comission.

Katherine

 

[GadgetRick]

Thanks for all of the info! Basically, we do go down 1-2x per year and we do stay onsite. This is why I haven't sold them yet. However, with the deals online, it just doesn't really make as much sense now. The dues are $1,000 and you can get a week onsite for that these days (or close enough) and get when/where you want without having to worry about whether you can get in where you want or not. I'm giving up something, for sure, but I'm just not seeing the value like I once did.

We don't every cook in. When I go on vacation, I can't be bothered. It's my wife and two sons (5 and 2) so we're good in a normal hotel room. Heck, we're not there much anyway. So I don't really NEED the nice rooms on a DVC resort.

I have NEVER traded points somewhere else. I've just not done it.

And I AM concerned about the potential falling value of the points due to me not extending the time on my points. So I figure now is as good a time as ever. The good thing is I bought them so long ago I paid next to nothing for them. So, no matter what I can get through, I'll make a profit.

I'm checking out the sites for selling my points. I'm hoping they sell (relatively) quickly as I just don't have the time to really deal with it. Very busy at work lately.

Thanks again!

 

[littlestar]

We've had great luck selling through the Timeshare Store. They sponsor the Dis boards. We've sold 4 contracts through them.

http://www.dvc-resales.com/dvclisting.cfm

We still own some DVC points, but not near as many as we once did. We found we really enjoyed staying at the Marriott Vacation Club resorts in Orlando, so we bought an every other year lock-off Marriott (around $2,400) and another EOY lockoff in the Smoky's (around $1,600) and between those and the cash Getaways offered through Interval International (exchange company), we are staying in Orlando in 2 bedrooms now for around $450 a trip .

It's been great that DVC held its value so that we could sell it for more than we paid for it. Not too many timeshares you can do that with.

 

[timeos2]

Don't wait if you plan to "sell for more than paid" The days are nearing an end.

It's been great that DVC held its value so that we could sell it for more than we paid for it. Not too many timeshares you can do that with.

That's what is winding to an end (soon?) so if those who want out at a profit don't move on it soon they may find themselves in a hole. Rising annual fees, lower trade & resale value - eventually a $0 value. Don't wait too long or you'll be part of the free fall when too many sellers start chasing too few buyers (just like 99.9% of all resale timeshares) but those don't have an end date, guaranteed higher fees and the end of DVC ROFR (what do they want them for - they can get them back for free) looming.

It's about 3 years into my 5 year prediction for the big points price fall so things look right on schedule to me. The bad economy only adds to the likelihood. Your opinion may differ but I'm not risking my $$ anymore...

 

[icydog]

That's what is winding to an end (soon?) so if those who want out at a profit don't move on it soon they may find themselves in a hole. Rising annual fees, lower trade & resale value - eventually a $0 value. Don't wait too long or you'll be part of the free fall when too many sellers start chasing too few buyers (just like 99.9% of all resale timeshares) but those don't have an end date, guaranteed higher fees and the end of DVC ROFR (what do they want them for - they can get them back for free) looming.

It's about 3 years into my 5 year prediction for the big points price fall so things look right on schedule to me. The bad economy only adds to the likelihood. Your opinion may differ but I'm not risking my $$ anymore...

John you have been a Disney prophet of doom for as long as I have been on these boards. If they OP wants to sell that's fine but signaling the sky is falling is unrealistic. Besides it starts the type of avalanche when people irresponsibly say these types of things. The fact is the OP bought his points years ago. He has used them for years for many great vacations. Now he wants to leave. The sky has not fallen- the price of points has no drastically fallen either. I find this kind of post irresponsible, as I said, and downright explosive.

 

[Steamboat Bill]

John you have been a Disney prophet of doom for as long as I have been on these boards. If they OP wants to sell that's fine but signaling the sky is falling is unrealistic. Besides it starts the type of avalanche when people irresponsibly say these types of things. The fact is the OP bought his points years ago. He has used them for years for many great vacations. Now he wants to leave. The sky has not fallen- the price of points has no drastically fallen either. I find this kind of post irresponsible, as I said, and downright explosive.

I agree...with the California property, Hawaii property, and Contemporary resort, DVC looks like it will continue holding value.

OKW is the original at $50pp since 1991.

If you LOVE Disney, you will LOVE DVC. This is not an investment, it's just the BEST timeshare (purchased from a developer) that hold the highest resale value.

 

[JudyS]

We have 225 points at AKV. I have had great luck booking with those points:

1) NY week at AKV (booked at 10 months out)
2) 6d at BCV during Food and Wine (booked at 8 months out)
3) 3d at BWV (boardwalk view) btw Xmas and NY for my sister; booked just last week....

Do you mean 7 months out for the BCV booking? You shouldn't be able to book at BCV 8 months out using AKL points.

Also, what size unit & what nights did you get at BWV? I though studios were all booked for that week, except maybe the weekend nights.

 

[DeniseM]

One thing you should remember, is that in a blink of the eye, your 5 and 2 year-olds are going to be 15 and 12 year-olds and you will need the room of a timeshare. Or you can book a hotel suite!

 

[benjaminb13]

The first thing which has become quite annoying (price of success of the product I guess) is, it's next to impossible to get stays at other resorts when we want/need them. I used to be able to go anywhere with little hassle--maybe change my plans slightly--but it's gotten crazy trying to do so. I know, I know, book early, etc. Problem is, I can't always book that far in advance.

It's been (relatively) easy to get into OKW (as has been written about around here) but I don't always want to stay there although it's still (imo) one of the nicest DVC resorts. But would be nice to stay in other resorts.

I hear your frustration, DVC has the most beautiful resorts, Unfortunately,
the lack of flexibility with reservations was the major issue that kept me from purchasing Disney - I was very close to buying-inspite of airfare prices. Then, when I asked about the reservation system- I was told it involved a lot of perseverance, patience, early wakeups and daily calls. When I asked the direct question of what the the chances were that an OKW owner could make a reservation in AKV- I was told this was very difficult at best-

Until they update their reservation system - This is an issue that will push many prospective buyers away.

 

[Steamboat Bill]

One thing you should remember, is that in a blink of the eye, your 5 and 2 year-olds are going to be 15 and 12 year-olds and you will need the room of a timeshare. Or you can book a hotel suite!

I was going to mention that...with a 9 and 12 yo I can't go back to a single hotel room anymore.

I hear your frustration, DVC has the most beautiful resorts, Unfortunately,
the lack of flexibility with reservations was the major issue that kept me from purchasing Disney - I was very close to buying-inspite of airfare prices. Then, when I asked about the reservation system- I was told it involved a lot of perseverance, patience, early wakeups and daily calls. When I asked the direct question of what the the chances were that an OKW owner could make a reservation in AKV- I was told this was very difficult at best-

Until they update their reservation system - This is an issue that will push many prospective buyers away.

Funny, I have been a DVC member for 7 years and think they have one of the best reservations systems of any timeshare company out there.

If you want Christmas at AKV every year, then you should buy AKV not rely on OKW.

 

[rhonda]

When I asked the direct question of what the the chances were that an OKW owner could make a reservation in AKV- I was told this was very difficult at best-

FWIW, we've had no trouble using our DVC points from SSR at AKV, BWV, OKW, and Vero Beach. We tend to book early at the 7 month window and avoid major holidays.

 

[alwysonvac]

I hear your frustration, DVC has the most beautiful resorts, Unfortunately,
the lack of flexibility with reservations was the major issue that kept me from purchasing Disney - I was very close to buying-inspite of airfare prices. Then, when I asked about the reservation system- I was told it involved a lot of perseverance, patience, early wakeups and daily calls. When I asked the direct question of what the the chances were that an OKW owner could make a reservation in AKV- I was told this was very difficult at best-

Until they update their reservation system - This is an issue that will push many prospective buyers away.

I don't know why anyone would say that DVC doesn't have a flexible reservation system. It's one of the best reservation systems.

AKL is the newest resort added to DVC. Last year DVC converted hotel rooms at AKL into timehare units. So inventory was limited to which section completed the conversion and were released at the lodge (Jambo House). Once the newest building is completed at AKL (Kidani Village)in 2009, I believe there will be more availability.

Here's a quick comparison to HGVC

Just like HGVC, if it’s important to stay at a certain resort during peak travel periods (XMAS, Spring Break, Thanksgiving, etc) then it makes sense to own at that resort otherwise if it doesn’t matter and you’re flexible then you can do an internal trade at the 7 month window. I would suggest picking a home resort that you would be happy with if a trade wasn't available in the 7 month window.

DVC doesn't have an online reservation system so you have to call to make your reservations. But again this is only a problem if your traveling during peak travel periods. For example, XMAS week you will want to book at the 11 month mark as soon as the reservation desk opens. But I really don't see this as being any different than any other timeshare reservation system. You have to get up early to snag a peak week when your competing with several other owners.

Similar to HGVC, DVC has a home resort booking period (11 months prior vs HGVC’s 12 months) then everything opens up to generally booking at any resort (7 months prior to checkout vs HGVC’s 9 months). Also similar to HGVC, DVC has banking and borrowing. However unlike HGVC, once points are banked and/or borrowed in DVC, they can not be returned to their original use year. HGVC's use year is calendar based. DVC varies throughout the year based on your contract.

Other PROs
- With DVC you can book any number of nights. No Minimum night requirement. You can also book any number of nights at the 11 month mark.
- With DVC higher points are only required on Friday & Saturday (unlike HGVC, it doesn't include Sunday too).

 

[GadgetRick]

Great info from everyone thanks!

I am selling my DVC for the following reasons:

-No problem with the reservation system. It's quite good. The problem is getting rooms when you need them. I, typically, travel during offpeak times, not during holidays, etc. I'm finding it increasingly difficult to get a room when I need it. I believe it is, in part, because DVC is renting their rooms out to non-DVC members. This kinda ticks me off.

-It also annoys me that they sell the fact you can stay at different resorts (DVC and non-DVC), however, try getting into BWV or one of the other popular resorts these days (again, during non-peak times). It's pretty much impossible.

-I don't need a big room with the two boys. Sure, I may need a bigger room at some point in the future. I'll cross that bridge when I come to it.

-I am a bit worried about the points becoming devalued in the near future because of those of us who think it's ridiculous to ask us for that much more money to extend our contracts. I believe many of us won't and will sell. It certainly won't help prices. I don't know when or even if this will actually happen but it has been in the back of my mind for a while now.

-The price of maintenance has been increasing (does for all timeshares anyway) and, at $1000ish, it just isn't making the same sense it once did. I own my points outright at the moment. So I'm looking at $1000 for a week (depending on how/when I use my points of course). Honestly, with all of the specials Disney (and others) put on, I believe I can get a room for the time we need it for about that price anyway. I know, it's not the big room, etc. but I just don't need it.

-Honestly, I've been becoming more fed up with DVC and them cutting things for us over the years. I'm feeling less like the family going home and more like the dollar bill they're trying to wrangle from my fist.

-We aren't in need of going down for a whole week any longer. We do like to go other places and we just don't need a whole week at a shot down there any more. We've been down there 30-40 times so we know what we want to do while we're there. A long weekend will suffice. Again, it's tougher to get weekends so it puts me back into the having a tough time getting a room dilemma.

Basically, I paid very little (relatively) for my points. I can make a very tidy profit from selling them. I'm not an investment guru but I figure that isn't such a bad thing. With the profit I make, it will pay for quite a few trips to Disney over the coming years. So I'll still be ahead of the game.

So no doom and gloom from me. Just a long time owner who is slightly disgruntled.

 

[timeos2]

Sounds like a very well reasoned and logical evaluation of the value of DVC points. I came to a very similar conclusion - just a few years before you. What many here seem to miss is that these points don't "age" well. While "new" points - with a full use period ahead of them - can be propped up by ROFR and other methods even DVC now admits "old" points don't have the value anymore - thus the cost to "extend" them. Once that happens it won't be much longer before all price props are dropped for "old" points and they will float at market value. As the fees keep going up, the remaining years down the resale value is destined to drop well below the original purchase price. My guess has been & remains within 2 years. Then the chance to get out by making money, or even just breaking even, is gone. Then it becomes a case of how long do you want to pay the fees and use it (not a bad thing) vs getting something out before the value is zero. The heady days of "no lose of purchase price" are close to an end.

All DVC owners should realize this will happen to them at some point. For "old" points it has already started in earnest.

 

[alwysonvac]

GadgetRick, thanks for sharing. I'm sorry that it's not working out for you. I'm also a bit frustated with some of the changes and decreasing benefits. Honestly, the only time I've run into issues is trying to book last minute travel (within 60 days of arrival) but LOL, I'm nowhere near the 30 to 40 visit count. Good Luck with your decision.


One more thing I forgot to mention above....for the benefit of those who are not familiar with DVC booking

Here are other factors that impact availability
- Special Disney Event (for example Epcot Food & Wine Festival impacts BCV & BWV availability)
- limited number of room types (for example AKL concierge level)
- low point season (low point XMAS season after Thanksgiving and before XMAS week begins)

Here are my notes on the number of rooms at each WDW DVC resort which can also impact availability

Old Key West
Rooms: 531 (761 max)
Dedicated Studio: 0
Dedicated One Bedroom: 0
Dedicated Two Bedroom: 274
Lockoff Two Bedroom: 230
(Each can be booked separately as 1B and Studio)
Grand Villa: 27

Saratoga Springs
Rooms: 828 (1260 max)
Dedicated Studio: 0
Dedicated One Bedroom: 0
Dedicated Two Bedroom: 360
Lockoff Two Bedroom: 432
Grand Villa: 36

Boardwalk
Rooms: 383 (532 max)
Dedicated Studio: 97
Dedicated One Bedroom: 130
Dedicated Two Bedroom: 0
Lockoff Two Bedroom: 149
(Each can be booked separately as 1B and Studio)
Grand Villas: 7

Wilderness Lodge
Rooms: 136 (181 max)
Dedicated Studio: 20
Dedicated One Bedroom: 27
Dedicated Two Bedroom: 44
Lockoff Two Bedroom: 45
(Each can be booked separately as 1B and Studio)
Grand Villas: 0

Beach Club
Rooms: 208 (282 max)
Dedicated Studio: 36
Dedicated One Bedroom: 20
Dedicated Two Bedroom: 78
Lockoff Two Bedroom: 74
(Each can be booked separately as 1B and Studio)

AKV – Jambo House
Rooms: 134 (216 max)
Dedicated Studios: 46
- 36 Savanna View
- 2 Standard View (Pool)
- 4 Value/Savanna View
- 4 Value/Standard View (Pool)
2BR lockoffs: 82
- 3 Concierge/Savanna View
- 2 Concierge/Standard View (Pool)
- 57 Savanna View
- 10 Standard View (Pool)
- 4 Value/Savanna View
- 4 Value/Standard View (Pool)
- 2 Value/Standard View (Parking Lot)
GVs: 6
- 6 Savanna View

 

[benjaminb13]

I don't know why anyone would say that DVC doesn't have a flexible reservation system. It's one of the best reservation systems.

AKL is the newest resort added to DVC. Last year DVC converted hotel rooms at AKL into timehare units. So inventory was limited to which section completed the conversion and were released at the lodge (Jambo House). Once the newest building is completed at AKL (Kidani Village)in 2009, I believe there will be more availability.

Here's a quick comparison to HGVC

Just like HGVC, if it’s important to stay at a certain resort during peak travel periods (XMAS, Spring Break, Thanksgiving, etc) then it makes sense to own at that resort otherwise if it doesn’t matter and you’re flexible then you can do an internal trade at the 7 month window. I would suggest picking a home resort that you would be happy with if a trade wasn't available in the 7 month window.

DVC doesn't have an online reservation system so you have to call to make your reservations. But again this is only a problem if your traveling during peak travel periods. For example, XMAS week you will want to book at the 11 month mark as soon as the reservation desk opens. But I really don't see this as being any different than any other timeshare reservation system. You have to get up early to snag a peak week when your competing with several other owners.

Similar to HGVC, DVC has a home resort booking period (11 months prior vs HGVC’s 12 months) then everything opens up to generally booking at any resort (7 months prior to checkout vs HGVC’s 9 months). Also similar to HGVC, DVC has banking and borrowing. However unlike HGVC, once points are banked and/or borrowed in DVC, they can not be returned to their original use year. HGVC's use year is calendar based. DVC varies throughout the year based on your contract.

Other PROs
- With DVC you can book any number of nights. No Minimum night requirement. You can also book any number of nights at the 11 month mark.
- With DVC higher points are only required on Friday & Saturday (unlike HGVC, it doesn't include Sunday too).

Great comparison, this really shows me a lot-
Dont get me wrong - Ive stayed b4 n VWL and truly enjoyed the stay.
The info im getting here has me re- thinking the issue especially after seeing that even Vero Beach owners have no problem getting AKV or vWL units in the 7 month window.
IHere is my scenario-
I wanted to purchase resale as inexpensive as possible as - I wanted to purchase at least 10 days- I would only be able to visit Florida every other year at the most- probably x mas or easter.
For a family of four that can only travel mid June to end July, easter, or xmas vacation

With HGVC -when the 9 month window opens up - If you own in Vegas but want to go to Hawaii during pri - you go online and almost always can get Hawaii -during peak seasons---- (I usually do this - to add a second week to my Hawaii trips) if you start at 9 months out - by the 8th month reservations get more difficult-
with dVC when the 7 month window opens - is it just as easy?

 

[GadgetRick]

We pretty much always go the first week of Christmas. Until a couple of years ago, I NEVER had a problem getting what we wanted/needed. Now, all of a sudden, it's an issue. I don't know what's changed but I know I can't quite use it like I want/need to. Doesn't mean I hate DVC, on the contrary, I still think it's a great deal for those people who need more than just a hotel room and will actually use it.

I'm also very happy to cash out now while I can (if ya know what I mean). We didn't go to Disney because of DVC, we bought DVC because of Disney. We went before we had DVC and will continue to go after we have sold our DVC.

I am just very fortunate enough to have gotten a killer deal in buying my points from my uncle for the lowest possible price (at the time). So, I'm standing to make a tidy profit. :whoopie:

 

[Steamboat Bill]

I am just very fortunate enough to have gotten a killer deal in buying my points from my uncle for the lowest possible price (at the time). So, I'm standing to make a tidy profit. :whoopie:

I hope you share a little with your uncle.

 

[GadgetRick]

I hope you share a little with your uncle.

Been sharing it with him. He's got a jewelry store. I always buy from him.

 

[alwysonvac]

Here is my scenario-
I wanted to purchase resale as inexpensive as possible as - I wanted to purchase at least 10 days- I would only be able to visit Florida every other year at the most- probably x mas or easter.
For a family of four that can only travel mid June to end July, easter, or xmas vacation

With HGVC -when the 9 month window opens up - If you own in Vegas but want to go to Hawaii during pri - you go online and almost always can get Hawaii -during peak seasons---- (I usually do this - to add a second week to my Hawaii trips) if you start at 9 months out - by the 8th month reservations get more difficult-
with dVC when the 7 month window opens - is it just as easy?

Yes, I believe in general this is true. I would compare DVC WDW availability to availability at the HGVC at the Hilton Hawaiian Village (HHV). Some weeks are harder to get than others. Just like HGVC at HHV, you might be able to get an exchange for a summer weeks at the start of the internal exchange period but don’t count on any exchange availability at XMAS and Easter week when the internal exchange period opens up (of course you could get lucky).

Honestly, I’ve never tried booking at XMAS or Easter/Spring Break due to the peak crowd levels, higher airfare prices and high DVC point requirements.

Folks with school aged kids that don’t want to deal with the hot summer weather and don’t want to take their kids out of school, are going to want to get a villa during most non-summer school breaks which means a lot more competition.

For the non-summer school breaks, I suggest booking at the 11-month mark as soon as the reservation desk opens up to guarantee a spot because you’re limited to one specific week with no scheduling flexibility. The earlier you book the better your odds at getting the resort, unit size and week that you want.

Since your travel times are limited to school vacation periods, I would suggest
(1) Buy one of the WDW DVC resorts (not HH or Vero), this will at least guarantee that can book an onsite villa during busy times at WDW. You can book at your home resort as the backup plan and try to move to another resort at the 7-month mark.
(2) Buy where you want to go. I own SSR and that’s where I want to be with the occasional exchange to the newer resorts. Just remember the smaller DVC resorts are going to be harder to get into than the larger DVC resorts. The largest DVC resort (SSR) is 6 times larger than the smaller DVC resort (VWL). The masses at the larger resorts are going to try to exchange when the internal exchange period opens up.

NOTE: The DVC reservation policy has recently changed. It changed from booking reservations based on checkout date to booking based on check-in date (see this thread http://www.tugbbs.com/forums/showthread.php?t=74181)