DVC Right of First Refusal Report (ROFR): November 2024
DVC Exercises Right of First Refusal (ROFR)
Year-to-date (YTD), Disney has exercised their right of first refusal (ROFR) on 123 Disney Vacation Club (DVC) contracts, and DVC Resale Market (DVCRM) has sold 4,153, resulting in a 3.0% buyback rate (Contracts Bought Back in 2024/Contracts Sold in 2024). The 2024 waiver rate is 97.0%.
Key ROFR Updates
If we’re going to keep referring to ROFR as a monster, it seems like this month’s monster is more of a giraffe or elephant—because all eight contracts bought back in November 2024 were for Disney’s Animal Kingdom Villas. This isn’t too surprising, as Animal Kingdom has been a major focus of Disney’s buyback activity throughout most of the summer and fall.
Animal Kingdom: The Spotlight Stays On
As we’ve discussed in previous months, Animal Kingdom Villas has seen a notable increase in ROFR activity, largely driven by the direct sales incentives Disney has been offering. This aligns with Disney’s broader strategy of using ROFR to replenish inventory at sold-out properties to meet ongoing demand.
What’s especially interesting this month is the timing. All eight buybacks occurred on November 27, 2024, right at the last possible moment before the month closed out. With new direct sales incentives set to be announced on December 12th, it makes us wonder—will Animal Kingdom be on that list again? If so, we may see continued ROFR activity at this popular resort in the months ahead.
ROFR in 2024: A Year Unlike 2023
As we approach the end of the year, it’s clear that 2024 has been a very different story compared to 2023 when it comes to ROFR activity. By this time last year, only seven contracts had been bought back in total. Contrast that with this year: as of November, 123 contracts have been ROFR’d, with buybacks occurring every single month so far.
It’s safe to say that 2024 has been the year ROFR made its comeback. The consistent activity each month, especially the focus on key resorts like Animal Kingdom and Old Key West, signals a deliberate effort by Disney at the moment to primarily leverage ROFR as a tool for inventory management.
As we head into December and await the next round of direct sales incentives, it will be interesting to see if this resort remains a focus or if Disney shifts its attention to other properties. For now, the numbers speak for themselves—2024 has been a big year for ROFR, and it’s shaping up to be a pattern we can expect to continue into 2025.
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 November 2023 to November 2024:
| Nov. ’23 | Dec. ’23 | Jan. ’24 | Feb. ’24 | Mar. ’24 | Apr. ’24 | May ’24 | June ’24 | July ’24 | Aug. ’24 | Sept. ’24 | Oct. ’24 | Nov. ’24 | Highest | |
| Animal Kingdom | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | $100 | $103 | $130 | $120 | $130 |
| Old Key West | n/a | n/a | n/a | n/a | n/a | n/a | $75 | $78 | $80 | $78 | $78 | $89 | n/a | $89 |
| Grand Floridian | $124 | $147 | $137 | $148 | n/a | n/a | $144 | $148 | $145 | n/a | n/a | $145 | n/a | $148 |
| Polynesian | n/a | n/a | n/a | n/a | $135 | $144 | $162 | n/a | $154 | $154 | n/a | n/a | n/a | $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 November 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: 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 |
| Animal Kingdom | 36 | 498 | 7.2% |
| Grand Floridian | 9 | 245 | 3.7% |
| Old Key West | 50 | 385 | 13.0% |
| Polynesian | 28 | 393 | 7.1% |
Access all DVC resale listings and learn more about buying and selling with DVC Resale Market.
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