DVC Right of First Refusal Report (ROFR): September 2024
DVC Exercises Right of First Refusal (ROFR)
Year-to-date (YTD), Disney has exercised their right of first refusal (ROFR) on 94 Disney Vacation Club (DVC) contracts, and DVC Resale Market (DVCRM) has sold 3,635, resulting in a 2.6% buyback rate (Contracts Bought Back in 2024/Contracts Sold in 2024). The 2024 waiver rate is 97.4%.
Key ROFR Updates
September 2024 marked a slowdown in DVC buybacks, with ROFR activity dropping to its lowest level in four months. Disney exercised its option on only ten contracts this month, focusing on two familiar names: Animal Kingdom and Old Key West. If you’ve been following along, you know I’ve already spoken extensively about these resorts in previous blogs, so the continued focus on replenishing points at these sold-out properties isn’t too surprising. But what does this slow-down mean as we head into the last quarter of the year? Let’s dive in.
Buybacks Focused on Animal Kingdom and Old Key West
Disney’s strategy for ROFR seems clear at this point: focus on sold-out resorts with strong demand, such as Animal Kingdom and Old Key West. Both of these properties saw buybacks again this month as Disney continues to bolster its points inventory. These buybacks are being driven by the need to replenish inventory at these highly sought-after resorts, thanks to recent direct sales incentives.
A Potential Slowdown on the Horizon?
That said, things could shift as we move into the final months of 2024. The new Fall 2024 Direct Sales incentives don’t include any offers for previously sold-out DVC properties. Since direct sales incentives have been a key driver of ROFR activity in recent months, this change could signal a decrease in buybacks for the remainder of the year.
With no direct incentives enticing buyers at sold-out resorts, it will be interesting to see whether Disney scales back its ROFR efforts or shifts its focus elsewhere. This is definitely something I’ll be keeping a close eye on in the coming months.
Polynesian: Clear Sailing Ahead?
Speaking of a decrease in buybacks, I think it’s safe to say we won’t be seeing any more Polynesian buybacks in the near future. The last ROFR activity we saw for Polynesian was back in July. Since then, Disney has opened up sales for Disney’s Polynesian Villas and Bungalows—thanks to the new Island Tower expansion—to existing DVC Members. Historically, actively selling properties see little to no ROFR activity, and with Polynesian now in the mix, I think the coast is clear for those looking to grab a resale contract at this growing resort.
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 September 2023 to September 2024:
| Sept. ’23 | Oct. ’23 | Nov. ’23 | Dec. ’23 | Jan. ’24 | Feb. ’24 | Mar. ’24 | Apr. ’24 | May ’24 | June ’24 | July ’24 | Aug. ’24 | Sept. ’24 | Highest | |
| Animal Kingdom | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | $100 | $103 | $103 |
| Old Key West | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | $75 | $78 | $80 | $78 | $78 | $80 |
| Grand Floridian | $152 | $146 | $124 | $147 | $137 | $148 | n/a | n/a | $144 | $148 | $145 | n/a | n/a | $152 |
| Polynesian | n/a | n/a | n/a | n/a | n/a | n/a | $135 | $144 | $162 | n/a | $154 | $154 | 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 September 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 | 16 | 431 | 3.7% |
| Grand Floridian | 7 | 216 | 3.2% |
| Old Key West | 43 | 340 | 12.6% |
| Polynesian | 28 | 336 | 8.3% |
Access all DVC resale listings and learn more about buying and selling with DVC Resale Market.
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