DVC Right of First Refusal Report (ROFR): July 2024
DVC Exercises Right of First Refusal (ROFR)
Year-to-date (YTD), Disney has exercised their right of first refusal (ROFR) on 64 Disney Vacation Club (DVC) contracts, and DVC Resale Market (DVCRM) has sold 2,925, resulting in a 2.2% buyback rate (Contracts Bought Back in 2024/Contracts Sold in 2024). The 2024 waiver rate is 97.8%.
Key ROFR Updates
As we embark on the second half of 2024, it seems like the ROFR Monster has developed an appetite for a few monthly snacks. July saw the second-highest month of buybacks this year, with sixteen contracts taken across three resorts: Old Key West, Grand Floridian, and Polynesian. Let’s dive into the details of this month’s activity and what it means for buyers and sellers in the DVC Resale Market!
Old Key West: Continual Replenishment
DVC appears to be continuing to replenish its points supply at Old Key West after May’s direct sales incentive spree. This consistent activity is not surprising given the popularity of Old Key West and the success of the recent incentives. It seems Disney is ensuring they have enough points available to meet demand, and this trend might continue for the foreseeable future.
Grand Floridian and Polynesian: Sporadic Buybacks
The buyback activity at Grand Floridian and Polynesian continues to be sporadic. Disney likely looks to bundle certain unit point allotments for future sales, leading to these occasional ROFR spikes. However, if you’re eyeing a Polynesian or Grand Floridian resale contract, I wouldn’t be too worried. The recent news regarding Polynesian is likely to put a stop to any significant buybacks for at least that resort for now!
Polynesian’s New Island Tower: Sales Starting Soon!
Disney Vacation Club recently declared its first inventory into the new Island Tower at Disney’s Polynesian Villas and Bungalows. This is a significant development as it is one of the final steps before they resume direct sales at this property. As we reported previously, the new rooms at the Island Tower will be bookable by both existing and new Polynesian owners, regardless of whether the points are direct or resale.
With points now being declared and ready for sale at the Polynesian, we can expect a historical pattern to unfold. Typically, when a new property or addition like the Island Tower is ready for direct sales, ROFR activity for that resort decreases significantly. I would say completely, but there have been a few outliers in recent years. This is because Disney focuses on selling the new inventory directly. Therefore, we can anticipate limited ROFR activity for the Polynesian over the next few years or until the new Island Tower sells out for direct purchases.
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 July 2023 to July 2024:
| July ’23 | Aug. ’23 | Sept. ’23 | Oct. ’23 | Nov. ’23 | Dec. ’23 | Jan. ’24 | Feb. ’24 | Mar. ’24 | Apr. ’24 | May ’24 | June ’24 | July ’24 | Highest | |
| Animal Kingdom | n/a | $102 | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | $102 |
| Old Key West | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | $75 | $78 | $80 | $80 |
| Grand Floridian | n/a | $141 | $152 | $146 | $124 | $147 | $137 | $148 | n/a | n/a | $144 | $148 | $145 | $152 |
| Polynesian | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | $135 | $144 | $162 | n/a | $154 | $162 |
*n/a: no buybacks for that resort for that month. Also, no buybacks of Aulani, Bay Lake Tower, BoardWalk, Beach Club, Boulder Ridge, Copper Creek, Grand Californian, Hilton Head, Riviera Resort, Saratoga Springs, and Vero Beach in rolling calendar year.
Disney Vacation Club Resort Resale Contracts Bought Back in 2024
The graph below shows the total amount of buybacks at each DVC resort for contracts sold by DVC Resale Market in 2024:
Average Right of First Refusal (ROFR) Timeframe for July 2024
In our continuous effort to provide transparent and useful insights to our clients at DVC Resale Market, we have compiled data to establish an average timeframe for contracts to pass through the Right of First Refusal (ROFR) process. It is important to understand that this duration is an average, indicating that some contracts may be processed more quickly while others might take a longer period. Keep in mind that various factors can influence these timeframes, and this average serves as a general benchmark for your expectations when navigating the ROFR process with us.
Buy Back Rates for Disney Vacation Club Resorts in 2024
The table below shows the percentage of buybacks for the resorts that have had at least one contract bought back in 2024. Note, there have been no buybacks of the following resorts in 2024: Animal Kingdom, Aulani, Grand Californian, Riviera Resort, Bay Lake Tower, Beach Club, Boardwalk, Boulder Ridge, Copper Creek, Disneyland Hotel, Saratoga Springs, Vero Beach, and Hilton Head.
| Resort | Buybacks | Number Sold | % Bought Back |
| Grand Floridian | 7 | 173 | 4.0% |
| Old Key West | 32 | 270 | 11.9% |
| Polynesian | 25 | 272 | 9.2% |
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