DVC Right of First Refusal Report (ROFR): December 2022
DVC Exercises Right of First Refusal (ROFR)
In 2022, Disney exercised their right of first refusal (ROFR) on 1,130 Disney Vacation Club (DVC) contracts. DVC Resale Market (DVCRM) sold 4,444 contracts in 2022, resulting in a 25.4% buyback rate (Contracts Bought Back in 2022/Contracts Sold in 2022). The 2022 waiver rate finished at 74.6%.
Key ROFR Updates
On the year, DVCRM saw a 95.16% increase in buybacks, surpassing 2021 by over 551 contracts. Leading the way were Saratoga Springs (307), Animal Kingdom (234), Bay Lake Tower (201), and Old Key West (176), totaling over 81% of contracts bought back in 2022.
2022 shattered all records for buybacks, dating back to 2016 when DVC Resale Market began to track this information:
|Year||Buy Back Rate|
December 2022 saw only four contracts taken by Disney, all at Copper Creek. After two months of slower activity, will the ROFR Monster awaken with the new year or stay hibernating a bit longer? Let us know your thoughts in the comments.
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 2021 to December 2022:
Disney Vacation Club Resort Resale Contracts Bought Back in 2022
The graph below shows the total amount of buybacks at each DVC resort for contracts sold by DVC Resale Market in 2022:
Buy Back Rates for Disney Vacation Club Resorts in 2022
The table below shows the percentage of buybacks for all 9 different resorts that have had at least one contract bought back in 2022. Note, there were no buybacks of the following resorts in 2022: Aulani, Grand Californian, Riviera Resort, Grand Floridian, Polynesian, and Hilton Head.
|Resort||Buybacks||Number Sold||% Bought Back|
|Bay Lake Tower||201||375||53.6%|
|Old Key West||176||392||44.9%|