DVC Right of First Refusal Report (ROFR): October 2024
DVC Exercises Right of First Refusal (ROFR)
Year-to-date (YTD), Disney has exercised their right of first refusal (ROFR) on 115 Disney Vacation Club (DVC) contracts, and DVC Resale Market (DVCRM) has sold 3,894, 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
Gone are the days when ROFR was a forgotten aspect of the DVC resale process. Now, it’s safe to say we can expect some level of monthly buyback activity from Disney for the foreseeable future. October, which marks the beginning of Disney’s fiscal year, came out swinging with the highest number of buybacks in six months. A total of 21 contracts were taken across three key resorts: Animal Kingdom (12), Old Key West (7), and Grand Floridian (2). Let’s break down what this means for the resale market and what trends are emerging.
Animal Kingdom: A Summer of Buybacks
Animal Kingdom has had a notable increase in buyback activity over the summer, largely driven by the direct sales incentives Disney has been offering. This aligns with what we’ve seen previously with other sold-out properties—Disney utilizes ROFR as a strategy to replenish its inventory and meet demand at these popular resorts. The question now becomes: which resort is next on Disney’s radar? The trend suggests that wherever direct incentives are offered, ROFR buybacks tend to follow.
For those who like to read into every detail, don’t get too caught up in the fact that the highest buyback price at Animal Kingdom this month was $130 per point. This was a small 25-point contract, which can skew averages and create outliers. What’s more telling is the overall volume and steady activity we’re seeing at this resort currently.
Old Key West: A Significant Jump in Price
The real standout this month is Old Key West. It’s not just the volume of buybacks that caught my attention but the pricing. Old Key West saw its highest buyback price in a rolling calendar year (and since September 2022, for that matter), hitting $89 per point—and this wasn’t for a small contract! This jump is significant and may signal that Disney is placing a stronger emphasis on securing points at this beloved resort. If you’re a buyer considering Old Key West, keep this in mind when weighing your options.
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 October 2023 to October 2024:
| Oct. ’23 | Nov. ’23 | Dec. ’23 | Jan. ’24 | Feb. ’24 | Mar. ’24 | Apr. ’24 | May ’24 | June ’24 | July ’24 | Aug. ’24 | Sept. ’24 | Oct. ’24 | Highest | |
| Animal Kingdom | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | $100 | $103 | $130 | $130 |
| Old Key West | n/a | n/a | n/a | n/a | n/a | n/a | n/a | $75 | $78 | $80 | $78 | $78 | $89 | $89 |
| Grand Floridian | $146 | $124 | $147 | $137 | $148 | n/a | n/a | $144 | $148 | $145 | n/a | n/a | $145 | $148 |
| Polynesian | n/a | n/a | n/a | n/a | n/a | $135 | $144 | $162 | n/a | $154 | $154 | 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 October 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 | 28 | 469 | 6.0% |
| Grand Floridian | 9 | 228 | 3.9% |
| Old Key West | 50 | 366 | 13.7% |
| Polynesian | 28 | 371 | 7.5% |
Access all DVC resale listings and learn more about buying and selling with DVC Resale Market.
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