Captain s Quarters at Surfside Resort Condominium Association, Inc ANNUAL MEETING NOTICE

Transcription

1 September 2015 REMINDER OF ANNUAL MEETING ANNUAL MEETING AGENDA I. Welcome and Introductions/ Call to Order II. III. IV. Approval of Agenda Approval of 2014 Annual Meeting Minutes Message from the Board V. Elections VI. VII. Management Reports Financial Review VIII. Communications and Interactions IX. Election Results X. Open Discussion XI. Adjournment If you do not plan to attend the Annual Meeting, it is of paramount importance that you fill out the enclosed Proxy/Ballot and return it prior to the meeting so that your vote can be registered. A quorum must be met to conduct Resort business and your Proxy will count toward that requirement. Please support your Resort and vote either in person or by Proxy. Proxy/Ballots must be received prior to October 24, Thank you for your participation in this important election process. Captain s Quarters at Surfside Resort Condominium Association, Inc ANNUAL MEETING NOTICE All Captain s Quarters at Surfside Resort Interval Owners are invited to attend the Annual Meeting of Owners on Saturday, October 24, :00 a.m. Christ the King Church Parish Hall Route 151, Mashpee, MA Christ the King Church Mashpee Rt. 28 Rotary Rt. 28 Falmouth Rt. 151 Hyannis Inside This Issue 2014 Annual Meeting Minutes Proxy/Ballot Candidate Biographies

2 CAPTAIN S QUARTERS AT SURFSIDE RESORT CONDOMINIUM ASSOCIATION, INC ANNUAL OWNERS MEETING MINUTES October 25, 2014 I. WELCOME AND INTRODUCTIONS/CALL TO ORDER Stephen Furrer called the meeting to order at 1:15 p.m. at Christ the King Church and extended a warm welcome to all present. Stephen then introduced the Board and Resort Team present. Board of Directors: Tony Minichiello, Treasurer Carl Griffin, Secretary Billy Curran, President James Miller, Trustee Vacation Resorts International and Resort Management: Stephen Furrer, Director of Resorts/VRI Tim Sieurin, General Manager Bethani Bergh, Housekeeping Manager Catherine Mulloy, Front Office Manager Stephen also gave regrets from Board Member Dennis Ducharme for not being able to attend the meeting. II. APPROVAL OF AGENDA MOTION: By Motion made and seconded the agenda was approved unanimously. III. APPROVAL OF PREVIOUS ANNUAL MEETING MINUTES MOTION: A motion from the floor was made, seconded and approved unanimously to approve the October 26, 2013 Annual Meeting minutes as written. IV. MESSAGE FROM THE BOARD Billy Curran thanked the owners for their support and committed to staying involved with the resort to help deliver the vacations that were purchased. He then commented on the positive aspects of a small turnout at the meeting. Incumbent Carl Griffin thanked the owners for coming out and acknowledged the hard work being done by the Board, Resort and Management teams. He looks forward to continuing on the Board. Carl Griffin also thanked the owners for their support over the years and reiterated the efforts of all involved to help make the resort successful. V. ELECTIONS Stephen Furrer reviewed the election process and asked all owners in attendance to make sure they were registered and had a ballot to vote. He went on to explain that owners have one (1) vote for each week that is owned and may vote for one candidate. Stephen Furrer called for nominations from the floor, hearing none, nominations were closed. At this point Stephen Furrer asked the owners in attendance to please cast their votes and also requested a volunteer to count the ballots. VI. MANAGEMENT REPORTS Stephen Furrer noted that Michael MacDonald had moved on from his position as General Manager of the resort. He thanked Michael for all his efforts and wished him well on his new endeavors. Stephen then introduced Tim Sieurin the new General Manager. Tim Sieurin spoke about his background and how he ended up as General Manager. He explained that over his 12+ year career he has worked in every department having served most recently as the General Manager at InnSeason Resorts HarborWalk. He then explained his approach of evaluating the foundational elements of the resorts physical plant and team members. He went on to discuss his areas of focus in preparation for the busy summer season. Additionally, he reviewed the goals for the 2015 season pointing out he will endeavor to be more detailed through a hands on approach. Lastly Tim Sieurin reviewed the most recent Customer Satisfaction Scores noting the resort was trending up and delivering a solid A in all categories except Amenities. Owners asked questions on why this was. Management explained Exchange travel patterns and that most exchanges are in the off season when the beach and pool are unusable. Tim thanked the resort team for their hard work and consistency and specifically highlighted Catherine Mulloy for her tireless efforts and relentless pursuit of perfection in all departments. Stephen Furrer reviewed the capital improvements completed since last year s Annual Meeting which included exterior 2 SEPTEMBER 2015

3 staircase renovation, all new bathroom flooring and bedroom carpet and a full renovation to the outdoor pool including the Gunite, heater, pumps and chlorinator. He then presented a before and after slideshow of the work completed. Stephen Furrer and Tim Sieurin reviewed the proposed improvements for the 2015 year which included new couches and drapery, resort wide WI-FI, and landscape and concrete/ structural improvements. There was a unit design board present to illustrate a return to a beach theme décor. VII. FINANCIAL REVIEW Stephen Furrer reviewed the 2013 year end financials noting the resort came in over budget by $60,094 for Operating Expenses. Stephen went on to review delinquency illustrating a significant rise in 2010/11 that topped over 20%. He further explained that with new policies and procedures combined with diligence, that 2013 delinquency was below 14%. Next he reviewed the steps that are taken to help keep owners paying as well as the steps taken for collections and ultimately foreclosures. He discussed in detail the processes in place to support those who need to transition out of ownership. The year-to-date financial position at the resort was approximately $46,000 to the negative. Stephen pointed out that there is still a quarter of the year left and that projections are for a similar negative balance to that of He also pointed out that the team is doing everything in their power to not spend more than they take in yet still deliver a reasonable level of service. The Board has continued to look at operational adjustments if the trend can t be mitigated. Stephen then reviewed the approved 2015 Operating Budget highlighting cost savings in various departments as well as big increases in both utilities and insurances. Maintenance fees for 2015 went up approximately 3% putting studios at $448.58, one bedrooms at $ and two bedrooms at $ Stephen Furrer then reviewed the average maintenance fee across the U.S. as well as the cost per night. He went on to illustrate everyday items that people spend more money on than their annual maintenance fees. VIII. COMMUNICATIONS AND INTERACTIONS Stephen Furrer reviewed the resorts change of ownership policies in detail. He then reviewed the benefits of using online Owner s Area. He also showed the owners other information and features accessible through the website. IX. ELECTION RESULTS Stephen reviewed the voting results as follows: Total Candidate 329 Carl Griffin 23 Michael Hughes Congratulations to Carl Griffin for being re-elected to three year terms. X. OPEN DISCUSSION Owners made various statements, asked questions and made suggestions which included the following: Outside stairs should be made safer when wet. Management will look at alternatives including non-skid material. Resort WI-FI is terrible and needs to be addressed. New system, controlled by the resort, is planned to be installed January of Higher sitting toilets should be considered. Management will look into replacing any broken toilets with a higher sitting toilet. More shaded areas at the outdoor pool. Management will look at alternatives for shade. For the two bedrooms, a way to easily put the twins beds together to make one larger bed. Management will look at alternatives to achieve this. Create a workout room at the resort or at one of the other resorts. Harborwalk undergoing renovation and may end up with one on site. Provide owners with a list of unsold weeks and sell them to owners at a discount. Stephen Furrer reviewed the complexity of doing this but committed to seeking a way to help. Provide rental specials for owners. There are programs like Bonus Time that owners can use as well as regular promotions for renting that go out to owners via . However Bonus Time rates do not apply to Owner Rental Inventory. Find ways to lower the energy costs and use alternative energy like solar. Tim Sieurin reviewed current initiatives to reduce energy costs. Stephen Furrer comment on the possibility of solar. Do a better job at regulating unit temperature when units are empty. Management committed to do this. Re-locate the handicap lift. Management commented that it will research if this is possible. XI. ADJOURNMENT There being no further business, a motion was made, seconded and approved unanimously to adjourn at 3:20 p.m. SEPTEMBER

4 PRST FIRST U.S. POSTAGE PAID CURLEY DIRECT c/o Vacation Resorts International P.O. Box 399 Hyannis, MA Important Numbers Captain s Quarters at Surfside Resort and Vacation Resorts International (VRI) Captain s Quarters (508) Fax - Captain s Quarters (508) General Manager, Tim Sieurin (508) Exchange Information Interval International (800) RCI (877) VRI*ety (888) Vacation Owner Services/VRI (800) Maintenance Fees Payment Plans Changes/additions to Ownership nememberservices@vriresorts.com Central Reservations (800) Information and Assistance Fixed Week Reservation Float Week Reservation Bonus Time Rental Program Deposits with Exchange Company innseason@vriresorts.com Still Need Assistance VRI Corporate Services (508) VRI Fax (508) Managed by Vacation Resorts International Perfecting the Art of Hospitality

5 CANDIDATE BIOGRAPHIES *Indicates Incumbents William E. Billy Curran With more than 25 years of timeshare marketing, sales, development and management experience, Billy Curran is the founder and CEO of InnSeason Resorts, a new brand of top quality vacation resorts and companies serving the New England market, with more than 500 employees and associates. As an entrepreneur, Billy founded Curran Management Services, Inc. in 1988, the region s top-producing timeshare marketer. He is the developer of Captain s Quarters, Surfside, Falmouth HarborWalk, The Falls at Ogunquit, Pollard Brook and South Mountain resorts. Objective as Board member: To ensure the resort s long term financial stability and to continually improve the quality of the resort accommodations, facilities and services for Captain s Quarters owners. Dennis M. Ducharme Born and raised in Rhode Island, Dennis Ducharme began his career in the hospitality industry in1985 by developing the Holly Tree Resort in West Yarmouth (MA), his first vacation ownership property. Since then, he has played a key role in the development of vacation ownership properties on Cape Cod and in New Hampshire, generating sales in excess of $100 million. In 1993, he began the re-development of Pollard Brook Resort at Loon Mountain, a purpose-built resort in Lincoln, NH. The 17 original units have grown to more than 130, creating New Hampshire s only 5-Star vacation ownership resort. Additionally, he completed the refurbishment of the former Mill House Inn into a 65-unit purpose-built, luxury resort hotel, in downtown Lincoln, now known as InnSeason Resorts South Mountain. Currently, there is a site plan approval and development plans for a major 170 room resort complex which will contain a 400-seat performing arts center, conference facilities and spa. HYPERLINK Dennis is a member of the Board of Directors of the American Resort Development Association (ARDA), and Chairman of the American Resort Development Association s Northeast Chapter, and a member of the board of directors of the North Country Center for the Arts. Objectives as Board member: To serve as an authority on resort operations and provide direction to the Board regarding accepted resort industry practice. See Reverse Side for Proxy/Ballot

6 IF YOU CANNOT ATTEND THE ANNUAL MEETING, The Directors request that you note your preference on the Proxy/Ballot and return it at once to reach us prior to October 24, Captain s Quarters at Surfside Resort Condominium Association, Inc. This Proxy/Ballot will be voted according to the instructions indicated below. Proxy solicited on Behalf of the Board of Directors for the Annual Meeting of Owners to be held on October 24, The undersigned hereby appoint(s) (check one only): Carl Griffin, Secretary 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 Captain s Quarters at Surfside Resort Condominium Association, Inc., to be held at Christ the King Church Parish Hall, Route 151, Mashpee, MA on Saturday, October 24, 2015, 10:00 a.m. or any adjournment thereof. Vote for no more than two (2) Candidates from the Candidates listed below. (Qualifications and biographies listed in newsletter.) *Incumbent *William E. Billy Curran *Dennis M. Ducharme Write in Signature Date Signature Date Please Print Name(s) Legibly Unit and Week Number See Reverse Side for Candidate Biographies Please fold and return in enclosed envelope Ballot