DVC Right of First Refusal Report (ROFR): December ’21


DVC Exercises Right of First Refusal (ROFR)

In 2021, Disney exercised their right of first refusal (ROFR) on 579 Disney Vacation Club (DVC) contracts. DVC Resale Market (DVCRM) sold 4,441 contracts in 2021, resulting in a 13.0% buyback rate (Contracts Bought Back in 2021/Contracts Sold in 2021). The 2021 waiver rate finished at 87.0%.

Key ROFR Updates

On the year, DVCRM saw a 111% increase in buybacks, surpassing 2020 by over 300 contracts.  Leading the way were Saratoga Springs (134), Old Key West (127), Animal Kingdom (109), and Bay Lake Tower (63), totaling 75% of contracts bought back in 2021.

While the buyback rate for 2021 saw a considerable rebound from last year’s 7.4%, it still remains below the historic high we saw in 2019:

Year Buy Back Rate
2016 9.2%
2017 6.9%
2018 10.5%
2019 16.3%
2020 7.4%
2021 13.0%


DVC Resorts set to expire in 2042 have seen a significant increase in ROFR activity in the past three months.  In December alone, BoardWalk (9), Old Key West (8), Beach Club (7), and Boulder Ridge (5) accounted for 54% of all buybacks.

Speaking of BoardWalk and Beach Club, both resorts saw a considerable increase this month in the price at which Disney is willing to exercise its ROFR.  Both resorts saw this highest buyback price increase by $7 per point to $140 (BoardWalk) and $162 (Beach Club).

What is Right of First Refusal (ROFR)?

For those new to the concept, Right of First Refusal is the option Disney Vacation Club has to purchase any resale contract after a sales price has been agreed upon, and the contract has been executed. Each contract must be forwarded to DVC for review.

DVC typically takes no more than 30 days to review the contract. At their discretion, Disney may step in and purchase the property themselves at the terms agreed upon by the seller and original buyer. DVC then becomes the buyer, and the purchase is complete. Once DVC is the buyer there is not an opportunity to come back with a better offer in hopes of still purchasing the contract.

Highest Monthly Buy Back Numbers by DVC Resort

Highest Buyback Price Per Point by Resort from December 2020 to December 2021:

ROFR Highest Price Dec 2021


Disney Vacation Club Resort Resale Contracts Bought Back in 2021

The graph below shows the total amount of buybacks at each DVC resort for contracts sold by DVC Resale Market in 2021:

ROFR YTD - December 2021


Buy Back Rates for Disney Vacation Club Resorts in 2021

The table below shows the percentage of buybacks for all 11 different resorts that have had at least one contract bought back in 2021. Note, there were no buybacks of the following resorts in 2021: Aulani, Grand Californian, Riviera Resort, and Vero Beach.

Resort Buybacks Number Sold Percentage Bought Back
Animal Kingdom 109 569 19.2%
Bay Lake Tower 63 394 16.0%
Beach Club 17 219 7.8%
BoardWalk 50 315 15.9%
Boulder Ridge 13 125 10.4%
Copper Creek 41 274 15.0%
Grand Floridian 3 252 1.2%
Hilton Head 4 103 3.9%
Old Key West 127 361 35.2%
Polynesian 18 398 4.5%
Saratoga Springs 134 783 17.1%


Access all DVC resale listings and learn more about buying and selling with DVC Resale Market.


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