Contents and Links. Click your selection to be redirected to the appropriate page. The following links will redirect you to the ARDA website.

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2 Contents and Links Click your selection to be redirected to the appropriate page. 1. Welcome Letter 2. Benefits of ARDA Membership 3. Fast Facts: ARDA & Key Meetings 4. ARDA Overview 5. State of the Vacation Timeshare Industry 6. Active & Affiliate Membership Application 7. Associate Membership Application 8. Fractional/PRC Developer Membership Application 9. ARDA Member Contacts The following links will redirect you to the ARDA website. Upcoming ARDA meetings Developments Magazine Own the Fun: Understanding Vacation Ownership What has ARDA ROC done for you lately? ARDA Exhibitor Application ARDA Convention & Exposition American Resort Development Association (ARDA) th Street, NW, Suite 400 Washington, DC Tel (202) Fax (202)

3 Dear ARDA Member Elect: Are you ready to take advantage of an important opportunity to enhance your business success? The American Resort Development Association (ARDA) now invites you to become part of the ARDA Community. ARDA is the only organization of developers, property managers, homeowner associations and vendors specifically focused on resort development and management. ARDA is committed to the continued prosperity of the vacation ownership industry and to its unique opportunities. First, ARDA is recognized for cutting-edge resources and highly regarded events such as our Annual Convention & Exposition and Fall Conference. These events are invaluable business-to-business networking opportunities to ensure your company stays ahead of the competition. You will gain vital insight and exchange innovative ideas with industry colleagues at numerous first rate education sessions. In addition, as an ARDA member, you ll have an option to exhibit at the special member rate at the Annual Convention. As an exhibitor, you will have access to the industry s most powerful players with the most influential buying power. This is a prime opportunity to showcase your company s products and services. Second, ARDA fosters a vital communication process by providing key information through timely and relevant industry updates, including regular blasts, electronic newsletter, press releases, as well as Developments, the monthly magazine source for news and information for decision makers in the resort development industry. Our website will keep you abreast of all ARDA activities, and provide you with up-to-date industry news and information on all of our programs, services and events. ARDA provides the vital connection for you to position your company for success in the vacation ownership industry. We offer membership options and comprehensive benefits to help you expand your presence in the industry. If you have any questions, please contact us at (202) or by at rgoodhope@arda.org. Please refer to the enclosed application to establish your appropriate dues payment. We look forward to welcoming you to the ARDA community. Best regards, Randy Goodhope Robert Craycraft Randy Goodhope, RRP Robert Craycraft, RRP AVP, Member Services Vice President, Industry Relations Direct: Direct: rgoodhope@arda.org bcraycraft@arda.org American Resort Development Association (ARDA) th Street, NW, Suite 400 Washington, DC Tel (202) Fax (202)

4 Benefits of ARDA Membership: Invaluable networking opportunities with the top executives of resort development companies and suppliers Access to industry publications including our nationally released Developments magazine, research studies and more Listing as a new member in one issue of Developments member magazine (3,000+ readers) Inclusion on ARDA s on-line Resort Buyers Marketplace Directory Membership Main Contact List in Excel format may be requested 10 times annually Use of an ARDA Member logo $1,600+ member discount per 10x10 booth space at the annual ARDA Convention & Exposition Approximately $500 discount per page on Developments advertising, plus new members get 15% discount on advertising when they advertise within 90 days Opportunity to submit articles to Developments with bio and photo Consideration for speaking role on ARDA s panels and speaker bureaus Access to expert advisors Powerful legislative advocacy And much more! Testimonials: As a resort developer and long-time trustee member of ARDA, we continue to benefit from valuable legal and lobbying activities helping advance the industry s agenda on Capitol Hill, in state houses, and local government offices around the country. Donald Harrill, CEO, Holiday Inn Club Vacations And member of the ARDA Board of Directors I find the ARDA staff to be very supportive, very engaged in the industry, and always ready to lend a helpful hand or to point new members in the right direction. Make the most out of the association and affiliation with thousands of other members in the industry. As you will learn, the timeshare industry is hugely relationship driven and, as such, taking advantage of all the benefits that ARDA has to offer will help you establish and maintain those relationships John E. Small, RRP~ Chairman, ResortCom International

5 Fast Facts: ARDA & Vacation Ownership Who are ARDA s Members? Developers Property Management Entities Home Owners Associations Suppliers Public Agencies o Universities o Related Industry Associations o Municipalities/ States The US Vacation Ownership Market Includes: 1,548 resorts in 2009 Over 170,200 units o Over 490,000 rooms o Over 316,000 bathrooms o Over 158,000 kitchens Refurbishment cycle are 1-3 years shorter than hotels o Higher expectations of owners versus transient guests Key ARDA Meetings Annual Convention Orlando, Florida (2011, 2013, 2015) Las Vegas, Nevada (2012, 2014, 2016) 3400 attendees 200+ exhibitors Why Participate? It s the world s largest timeshare gathering with all of the top industry companies represented. Fall Conference Washington, DC ~ October/November annually 350+ top executives in attendance Why Participate? Network with the top 10% of the industry leadership Regional Meetings in key leisure markets attendees Why Participate? Access to resort operations professionals, HOA Board Members and top regional developers

6 The American Resort Development Association (ARDA) is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Established in 1969, ARDA today has almost 1,000 corporate members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate. The membership also includes timeshare owner associations (HOAs), resort management companies, and owners through the ARDA Resort Owners Coalition (ARDA-ROC). ARDA promotes the growth and development of the timeshare industry in the following roles: Advocacy Actively involved in local, state and national governmental affairs, ARDA monitors regulatory issues impacting timeshare and engages in lobbying efforts focused on the establishment of a legislative environment that further enhances consumer confidence and fosters industry growth. Networking ARDA offers the industry educational and networking opportunities through its Annual Convention, Fall Conference, Committee Meetings and a variety of regional educational seminars over the course of the year. Knowledge Through a variety of informational tools including published research summaries, news updates and alerts, Developments magazine and the ARDA Website, ARDA shares market intelligence and seeks to keep its members informed of industry trends and current events. Business partnerships/bridge building Via relationship alliances with related and complementary national and international industries, ARDA pursues business and growth opportunities on behalf of vacation ownership participants. Outreach Through education, communications and public relations, ARDA generates consistent, proactive image enhancement efforts on behalf of its association members. Support and development The ARDA International Foundation offers professional and educational development through publications covering the industry s ethical, legal, regulatory and operational intricacies; study courses; tests which assess industry knowledge; and recognition of continuing educational efforts. For more information about ARDA, visit the Web site at or contact the membership department at (202)

7 STATEOFTHEVACATIONTIMESHAREINDUSTRY Therewere1,548timeshareresortsintheUnitedStatesin2009,representingapproximately170,200unitsforanaverageresortsizeof110 units.ofthese,6% werestudiounits;23% wereone-bedrooms;66% weretwo-bedrooms;and6% percentwerethreebedroomsormore.there were7.2milionintervalsowned. Florida,CaliforniaandSouthCarolinaremainasthethreestatesthathavethemostresorts,representing39% of alu.s.timeshareresorts. Thepredominantresortcategorywasa beachdestination,reportedby31% of respondingresorts.thiswasfolowed by country/lakesresorts(18%),and golfandskiresortseachat10%.

8 2of2 Year2009salesvolumetotaled$6.3bilion,decreasingby35% from 2008.Therewereabout306,200timeshare intervalssoldatanaveragepriceof$20,468. Thisyear ssalesdropisequaltoanannualizedfour percentdeclinefortheperiodfrom 2004to2009.Compoundedannualgrowthratesforsalespriceandaverage resortsizeinthesametimeframewere5% and3%, respectively. Occupancycontinuestobestrongat79.7%. Clearly,theindustryoutlookfor2010istiedcloselyto theoveraleconomicpicture,butthereiscautious optimism amongstkeytimeshareindustryexecutives thattheworstmaybebehindtheindustry. StateoftheVacationTimeshareIndustry:UnitedStatesStudy,2010Edition ARDAInternationalFoundation(AIF) Ernst& Youngconductedasurveyof1,548recognizedtimeshareresortstoprovideanoverviewof thestateofthetimeshareindustryintheu.s.

9 Your Resource in the Vacation Ownership Industry Active & Affiliate Membership Application 2011 Active Members: For real estate and timeshare developers, condo-hotels, vacation clubs, resale companies, resort property exchange and reciprocal use organizations. Dues are based on gross annual dollar income from industry-related sales and leases. Use revenues from previous calendar year. Class Revenues Dues Class 1 Over $100 million $13,500 Class 2 $50 million to $100 million $8,500 Class 3 $20 million to $50 million $5,500 Class 4 $5 million to $20 million $4,000 Class 5 Less than $5 million $1,875 Affiliate Members Class S Home Owners Associations, $300 Property Owners Associations Class P Public Agencies, Officials, Trade $260 or Hospitality Association, Universities Class I International $615 Companies not marketing or having offices in North America or US territories COMPANY INFORMATION: Company Mailing Address DUES: $ Yearly dues include member discounts for all of your company s representatives. PAYMENT Information (Please check) Charge my credit card: American Express Diner s Club MasterCard VISA Name on Card Card Number Exp. Date Signature City State or Prov Postal/Zip Code Country Main Contact Name Title Company Web Site Telephone Please list an industry reference Fax ARDA and its members are committed to the highest standards and ethics in resort, vacation, recreational, residential and community development for the benefit of the public. To demonstrate that commitment, ARDA has adopted a Code of Ethics which all members and all those who use ARDA services agree to comply. Now and in the future, I agree on behalf of my company to observe and abide by the ARDA Code of Ethics. Signature: Date: The complete ARDA Code of Standards and Ethics can be found online at Check enclosed (Payable to ARDA in U.S. Dollars on U.S. Bank) Check Number: While contributions or gifts to ARDA are not deductible as charitable contributions for federal income tax purposes, they may be deductible as ordinary and necessary trade or business expenses. We estimate that 11.76% percent of members 2011 dues will be allocable to lobbying and political expenses. Therefore, you should deduct only the remaining 88.24% of your ARDA dues for federal tax purposes. Once your application has been received, a membership representative will contact you for additional information to make sure you receive full member benefits. Please send application and payment to: American Resort Development Association th Street, NW Suite 400 Washington, DC Tel: (202) Fax: (202) membership@arda.org

10 Your Resource in the Vacation Ownership Industry Associate Membership Application 2011 Associate Members are primary providers of goods and services, including but not limited to: property management firms, lenders, financial brokers, consultants, attorneys, accountants, manufacturers and suppliers of resort goods, resort property services, sales and marketing providers, lead generation and more. Your $1650 yearly dues include member discounts for all of your company s representatives. COMPANY INFORMATION: Company Mailing Address City State or Prov Postal/Zip Code Country Main Contact Name Title Company Web Site Telephone Please list an industry reference Fax Once your application has been received, an ARDA member representative will contact you regarding additional company contacts to receive Developments magazine, your company s products & services code options to appear within the ARDA online New Member Directory and the Resort Buyers Marketplace. ARDA and its members are committed to the highest standards and ethics in resort, vacation, recreational, residential and community development for the benefit of the public. To demonstrate that commitment, ARDA has adopted its Code of Ethics with which all members and all those who use ARDA services agree to comply. Now and in the future, I agree on behalf of my company to observe and abide by the ARDA Code of and Ethics. Signature: Date: The complete ARDA Code of Ethics can be found online at DUES: $1650 per year PAYMENT Information (Please check) Charge my credit card: American Express Diner s Club MasterCard VISA Name on Card Card Number Exp. Date Signature Check enclosed (Payable to ARDA in U.S. Dollars on U.S. Bank) Check Number: While contributions or gifts to ARDA are not deductible as charitable contributions for federal income tax purposes, they may be deductible as ordinary and necessary trade or business expenses. We estimate that 11.76% percent of members 2011 dues will be allocable to lobbying and political expenses. Therefore, you should deduct only the remaining 88.24% of your ARDA dues for federal tax purposes. Please send application and payment to: American Resort Development Association th Street, NW Suite 400 Washington, DC Tel: (202) Fax: (202) membership@arda.org

11 Fractional/PRC Developer Membership Application 2011 Your #1 Resource in the Vacation Ownership Industry Fractional/PRC Members: For real estate fractional and private residence club developers, related resort property exchange and reciprocal use organizations. Dues are based on gross annual dollar income from industry-related sales and leases. Use revenues from previous calendar year. Class Revenues Dues L1 Over $150 million $13,999 L2 $85 million to $150 million $8,000 L3 $30 million to $85 million $5,000 L4 Zero to $30 million $2,000 Fractional/PRC Member Class: (Please Check Most Applicable) Fractional Project in active sales or under development. PRC Projects in active sales or in development. Other Please Explain: COMPANY INFORMATION: DUES: Yearly dues include member discounts for all of your company s representatives. PAYMENT Information (Please check) Charge my credit card: American Express Diner s Club MasterCard VISA Company Mailing Address City/State/Zip Country Name on Card Card Number Exp. Date Signature Main Contact Name Title Company Web Site Telephone INDUSTRY REFERENCE: Fax Name: Company: ARDA and its members are committed to the highest standards and ethics in resort, vacation, recreational, residential and community development for the benefit of the public. To demonstrate that commitment, ARDA has adopted its Code of Standards and Ethics with which all members and all those who use ARDA services agree to comply. CODE OF STANDARDS AND ETHICS: Now and in the future, I have read and agree on behalf of my company to observe and abide by the ARDA Code of Ethics. Signature: Check enclosed (Payable to ARDA in U.S. Dollars on U.S. Bank) Check Number: While contributions or gifts to ARDA are not deductible as charitable contributions for federal income tax purposes, they may be deductible as ordinary and necessary trade or business expenses. We estimate that 11.76% percent of members 2011 dues will be allocable to lobbying and political expenses. Therefore, you should deduct only the remaining 88.24% of your ARDA dues for federal tax purposes. Once your application has been received, a membership representative will contact you for additional information to make sure you receive full member benefits. Please send application and payment to: American Resort Development Association th Street, NW Suite 400 Washington, DC Tel: (202) Fax: (202) membership@arda.org Date: *Membership year runs through 9/30/07. The complete ARDA Code of Ethics can be found online at

12 Membership Contacts Randy Goodhope, RRP AVP, Member Services (202) Bob Craycraft, RRP VP, Industry Relations (202) Augustus Bostick Member Relations (202) Headquarters th Street, NW Suite 400 Washington, DC Tel (202) Fax (202) State Affairs Office 200 E. Robinson Street Suite 1170 Orlando, FL Tel (407) Fax (407)