Surfside Resort Condominium Trust ANNUAL MEETING NOTICE FROM THE GENERAL MANAGER S DESK. Saturday, October 29, :00 p.m.

Transcription

1 August 2011 FROM THE GENERAL MANAGER S DESK Welcome to Surfside Resort where our staff is ready to serve you. Whether a stroll on the beach, swimming in one of our beautiful pools or simple relaxation on your deck, you will find that there are few other places on Cape Cod that offer you the ability to wash away life s daily stress. We know you will enjoy the many upgrades we were able to accomplish in the winter months, and hope to get your feedback on what we can do better. Comment cards are in your room as well as available at the front desk, so take a minute to let us know what you like and what may need improving. These cards are vital to implement changes, so help us to help you! We would like to remind all of our owners to check your week! There were 53 weeks in 2010 which pushed all of the intervals one week ahead. For example, if you own a week starting on August 12, 2011 that week will now start on August 19th. There is a calendar located online at or feel free to contact the resort directly and we will be happy to assist. We look forward to seeing you and hope you have a fantastic summer! Warmest Regards, Michael MacDonald General Manager Surfside Resort Condominium Trust ANNUAL MEETING NOTICE All Surfside Resort Interval Owners are invited to attend the Annual Meeting of Owners on Saturday, October 29, :00 p.m. Christ the King Church Parish Hall Route 151, Mashpee, MA AGENDA I. Welcome and Introductions/Call to Order II. Approval of Agenda III. Approval of 2010 Annual Meeting Minutes IV. Message from the Board V. Elections VI. Management Reports VII Budget VIII. Election Results IX. Open Discussion / Questions and Answers X. Adjournment REMINDER - Don t forget to schedule your Owner Update Over the last year, several thousand InnSeason and VRI managed property owners have attended an important Owner Update with an InnSeason representative. They have heard about how our Owners and Resorts are doing and about the new programs and exciting changes going on with VRI and InnSeason Resorts-- all geared toward continuing to provide you and your family with outstanding vacation experiences and most importantly, continuing to increase the fundamental value of what you already own. To schedule your Owner Update, please call Owner Services Specialist Debbie Curran at Inside this Issue Candidate Biographies VRI*ety 2010 Annual Meeting Minutes Proxy/Ballot

2 CANDIDATE BIOGRAPHIES Christine Barnes Address: Lexington, MA Education: LeMoyne College, Syracuse, NY BS Mathematics Qualifying Experience: Board member Surfside - 10 years; President Sundown Condominium Vermont - 20 years; IBM Project Management Career - 30 years. Objectives: Long term planning, regular maintenance to avoid emergencies, owner communications, fiscal responsibility. SURFSIDE RESORT CONDOMINIUM TRUST 2010 ANNUAL OWNERS MEETING MINUTES October 23, 2010 I. WELCOME AND INTRODUCTIONS/CALL TO ORDER Brian O Hearn called the meeting to order at 2:05 p.m. and extended a warm welcome to all the owners present. Brian introduced the Board members and resort management who were seated at the head table including: Board of Directors: Robert Ferris Christine Barnes Billy Curran Vacation Resorts International and Resort Management: Scott Dravis, Vice President of Resort Operations, VRI Brian M. O Hearn, Director of Resorts, VRI Michael MacDonald, General Manager Bethani Bergh, Executive Housekeeper Keath Driscoll, Front Office Manager Walter Craig, Chief Engineer 2 AUGUST 2011 II. APPROVAL OF AGENDA By motion made and seconded, the agenda was approved unanimously. III. APPROVAL OF PREVIOUS MEETING MINUTES MOTION: A motion from the floor was made, seconded and approved unanimously to approve the Annual Meeting minutes of October 31, 2009 as written. IV. MESSAGE FROM THE BOARD The Board thanked all owners in attendance. Billy Curran discussed the transition to VRI and congratulated resort management for making the transition smooth. Christine Barnes talked about the importance of ARDA and the voluntary contribution requested on each year s maintenance fee bill. Robert Ferris spoke about the financial challenges Surfside faces when the collection rates are this low and how a special assessment was narrowly averted this year.

3 V. ELECTIONS Brian O Hearn stated that this year is an election year and anyone who has not voted may obtain a ballot at the sign in desk. The following candidates running include incumbent Billy Curran and owners Robert Peltier and Hemchandra Shertukde. The candidates were given the floor to address the owners. (Robert and Hemchandra being absent) Brian called for any additional nominations from the floor, hearing none nominations were closed. MOTION: A motion was made, seconded and approved unanimously to close nominations. Owners were instructed to mark their ballots and turn them in to the moderators. Results will be announced at the end of the meeting. VI. MANAGEMENT REPORTS Michael MacDonald updated the owners on the resort staff and the improvements made in 2010: 2010 Improvements and projects to the property include: Updated kitchen equipment Painting Carpet cleaning New CO2 detectors Wireless internet in lobby Leak above 300 stairwell repaired Whiskey barrels done with in-house labor Hallway walls repainted Beach maintained Room #532 Jacuzzi leak and damaged unit #519. The repairs to the unit were performed mostly inhouse labor and by subcontractors. Pool main drain repaired 2011 Goals and projects: Improved guest survey results (2010 comment card scores reviewed) Expand the activities program Focus on in-room issues such as paint, kitchen equipment and carpets. Playground upgrade Resurface 400 and 500 building walkways Repair 400 building fascia Tennis court improvements Michael discussed the continued effort to conserve energy and recycle which includes: switch timers installed, hang a towel program implemented, recycling stations and purchasing only green paper products. Finally, Michael reviewed customer use options and encouraged owners to utilize the InnSeason Resort s web portal. Brian O Hearn stated that VRI was happy to be back and provided the following background information for those who were not familiar with VRI: 29 years in business, based in Laguna Hills, CA A Regional Office located in Hyannis with 22 employees Resorts in 27 states, Canada and Mexico 26 resorts in the Northeast and in total over 160 resorts Brian reported that Surfside may participate in VRI s National Vendor program allowing buying power of 160 resorts and should translate into savings for Surfside. Brian also reviewed VRI s in-house exchange program, VRI*ety consisting of: Exchange to VRI managed resorts in 29 states. Hundreds of additional resorts available. NO annual membership for basic VRI*ety. Low exchange fees. 3 and 4 night split week usage. Unit upgrades. Brian reviewed the Comparative Income Statement as of month end August 30, 2010 stating that the resort s income is down due to a reduced collection rate; however, Payroll, Operating and Administrative expenses have been reduced by $92,944. Overall, the resort management team has done an excellent job reducing expenses to create positive variances where possible. The 2011 budget was reviewed: The management team was able to incorporate the year to date 2010 operating positive variances into the 2011 budget. However, there has been a significant increase in owner bad debt. Maintenance fee increases 6.5% VII. ELECTION RESULTS Brian O Hearn announced the results of the election and congratulated Billy Curran on being reelected and thanked Robert Peltier and Hemchandra Shertukde for running. VIII.OPEN DISCUSSION The Board and management answered questions from owners. IX. ADJOURNMENT MOTION: There being no further business, a motion was made, seconded and approved unanimously to adjourn the meeting at 4:00 p.m. AUGUST

4 PRST FIRST U.S. POSTAGE PAID PERMIT 21 CCP&DF c/o Vacation Resorts International P.O. Box 399 Hyannis, MA ADDRESS SERVICE REQUESTED Important Numbers Surfside Resort Condominium Trust and Vacation Resorts International (VRI) Surfside Resort (508) Central Reservations (800) Fax (508) Information and Assistance General Mgr - Michael MacDonald (508) Fixed Week Reservation Website Float Week Reservation Bonus Time Exchange Information Rental Program Interval International (800) Deposits with Exchange Company RCI (877) innseason@vriresorts.com VRI*ety (888) Still Need Assistance Vacation Owner Services / VRI (800) VRI Corporate Services (508) Maintenance Fees VRI Fax (508) Payment Plans Changes/additions to Ownership nememberservices@vriresorts.com Managed by Vacation Resorts International Perfecting the Art of Hospitality

5 IF YOU CANNOT ATTEND THE ANNUAL MEETING, The Trustees request that you note your preference on the Proxy/Ballot and return it at once to reach us prior to October 29, Surfside Resort Condominium Trust This Proxy/Ballot will be voted according to the instructions indicated below. Proxy solicited on Behalf of the Board of Trustees for the Annual Meeting of Owners to be held on October 29, The undersigned hereby appoint(s) (check one only): Billy Curran, President Other: to act as Proxy with power to vote for and act on behalf of the undersigned on any business that may properly come before the Annual Meeting of the Owners of Surfside Resort Condominium Trust, to be held at Christ the King Church Parish Hall, Route 151, Mashpee, MA on Saturday, October 29, 2011, 1:00 p.m. or any adjournment thereof. Vote for no more than one (1) Candidate for Office of Trustee from the Candidate listed below. (Qualifications and biography listed in newsletter.) *Incumbent *Christine Barnes Write in Signature Date Signature Date Please Print Name(s) Legibly Unit and Week Number Please fold, secure, stamp, and mail to address on reverse Ballot

6 -Please Fold Here- PLACE STAMP HERE Please check if new address Secretary Surfside Resort Condominium Trust c/o Vacation Resorts International Post Office Box 399 Hyannis, MA Please Fold Here-