Looking at the total number of points sold by Disney Vacation Club from 2011 on, it is very apparent that there is a distinct downward trend in the number of points being sold by DVC year over year.

Over the same period, the cost per point to purchase direct from DVC has been going up and the point charts for the most recent DVC resorts show point inflation (it costs more points to book a reservation than it does at older resorts).

The inflated point charts and the falling quantity of points being sold also indicates a decline in the number of new DVC members that Disney Vacation Development is pulling in each year.

This seems to signal a shift in the sales strategy for DVC when compared to prior years. They are less focused on a volume business (more points at a lower price) and more focused on a smaller volume business at a higher price.

So, even though they are selling less points, they have a greater profit margin on every sale. Their strategy of converting existing hotel rooms into DVC units (at PVB and likely WL) reduces capital expenditures - decreasing the cost of the goods they are selling, resulting in a higher profit margin.

Perhaps their options for building more DVC units at WDW are growing smaller - at least in terms of the "low hanging fruit" where they can add DVC onto existing Deluxe resorts - and they realize their volume business is not sustainable, or at least not the best approach.

Point sales fell from 2.47 million in 2011 to 1.70 million in 2014.

I am excluding Aulani and VGC.