DVC Right of First Refusal Report (ROFR): February 2023

Disney's Boardwalk at Sunrise

DVC Exercises Right of First Refusal (ROFR)

Year-to-date (YTD), Disney has exercised their right of first refusal (ROFR) on 4 Disney Vacation Club (DVC) contracts, and DVC Resale Market (DVCRM) has sold 879, resulting in a 0.5% buyback rate (Contracts Bought Back in 2023/Contracts Sold in 2023). The 2023 waiver rate is 99.5%.

Key ROFR Updates

In something not seen since July 2020, DVC Resale Market had no buybacks from Disney in February 2023.  This marks the bottom of a low ROFR trend we’ve seen brewing for several months, with a total of only 14 contracts bought back since November 2022.

The messaging we’ve shared with buyers these past few months is the same as the pandemic, and yet completely different.  Those fearful of the ROFR Monster and that dread that process can purchase right now with little fear of a buyback.  Moreso, buyers have the added benefit this time around of declining prices, making for some great deals on the resale market!

The million-dollar question we keep getting asked is why these low ROFR numbers and how long might this last.  My answer to this is both simplistic and yet backed by data all at the same time: Disney has bigger fish to fry right now.

Disney Vacation Club faces the possibility of having 5 actively selling properties by 2024 (Aulani, Riviera, Grand Floridian, Polynesian, and Disneyland).  Pair that with the tremendous amount of points they bought back at other sold-out properties last year, they have no need for more points at this time.  Additionally, the company is currently amid restructuring by Bob Iger as they look to trim costs and provide much-needed revenue and growth to the company’s studio and streaming division.

ROFR is not at the top of Disney’s mind at the moment and I think this monster may be sleeping for a while longer.

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 February 2022 to February 2023:

Right of First Refusal ROFR Highest Price February 23


Disney Vacation Club Resort Resale Contracts Bought Back in 2023

The graph below shows the total amount of buybacks at each DVC resort for contracts sold by DVC Resale Market in 2023:

Right of First Refusal ROFR January 2023


Buy Back Rates for Disney Vacation Club Resorts in 2023

The table below shows the percentage of buybacks for the resorts that have had at least one contract bought back in 2023. Note, there have been no buybacks of the following resorts in 2023: Aulani, Grand Californian, Riviera Resort, Grand Floridian, Polynesian, Animal Kingdom, Bay Lake Tower, Beach Club, Boardwalk, Boulder Ridge, Old Key West, Saratoga Springs, Vero Beach, and Hilton Head.

Resort Buybacks Number Sold % Bought Back
Copper Creek 4 44 9.1%


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


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