Select owners of Disney's Old Key West Resort have received an interesting solicitation direct from Disney Vacation Club offering to buy back their ownership interest.
Disney Vacation Club is reaching out to owners of their first timeshare property to inquire about buying back the points. The email reads as follows:
We recently noticed that you haven’t been utilizing your Disney Vacation Club Resort. It is always our goal to ensure that you are getting the most out of your Membership so that you and your family can enjoy magical vacations year after year.
We understand that now may not be the right time for you and your family to travel. Or perhaps you were saving up for that extra special vacation. Don’t forget that you can bank points from your current use year to give you even greater flexibility for future vacations.
However, if your family has decided that your Disney Vacation Club Resort isn’t the right fit for you right now, we would welcome the opportunity to speak to you if you are interested in selling back your ownership interest at Disney's Old Key West Resort.
While we never want to see a Member leave, we understand that sometimes circumstances change. If this is the case for you and your family, please contact us at 800-782-6767 to speak with a Quality Assurance Cast Member. Business hours are 9am-6pm EST, 7-days a week.
Additionally, for a limited time, you may be eligible for a 10% increase over the price per point that Disney Vacation Club would currently offer when choosing to exercise its options to reacquire an ownership interest.
The interest in Old Key West points likely relates back to the contract extension offered to owners more than a decade ago. The resort was originally sold with a contract due to expire on January 31, 2042. Back in 2007, Disney Vacation Club offered 15 additional years of ownership, extending the contract until January 2057. The cost for the extension--which at the time was still nearly 35 years away--was intially priced at $15 per point and later raised to $25.
Members not interested in the extension were asked to sign a quitclaim deed, granting DVC rights to the additional 15 years.
Research conducted by DVCNews showed that less than 20% of owners actually took DVC up on the offer. The low adoption rate could result in DVC reacquiring millions of points on February 1, 2042 for a resort that only has 15 years remaining on its contract.
DVC itself is able to reacquire Old Key West 2042 contracts via foreclosures and Right of First Refusal buybacks, combine them with the additional 15 years, and sell the points to new owners at the 2057 end date. The buyback solicitation described above appears to be a more aggressive continuation of that process.
According to data complied by dvc.market, Disney Vacation Club has recently been exercising Right of First Refusal on contracts priced up to $108 per point. Median resale transfers are in the $120-125 price range. DVC is currently selling Old Key West points with a 2057 end date for $170 each.
The exact buyback price being offered via this correspondence is not currently known.
