What is Right of First Refusal

Right of first refusal, often referred to as ROFR is a contractual right that gives its holder, in this case the timeshare resort company, the option to purchase the timeshare unit in transaction from the owner, before the owner is entitled to enter into that transaction with a third party.

At the moment, as far as we are aware, Marriot and Disney are exercising their right of first refusal. Although Hilton have exercised their right of first refusal in the recent years, they have not been doing so for the past few months. Wyndham is known to not exercise their ROFR.