| Highlights of the October 2013 Annual Meeting |
|
The Annual Meeting of the Council of Co-Owners was held on Saturday, October 19, 2013 at Camelback Inn. A draft of the Minutes of the meeting is now posted on the web site under Meetings and Events - Council of Co-Owners. The minutes will also be included on the ballot when they are formally submitted for your approval next October.
At the meeting, General Manager Jim Rose reported:
• 2013 is much better than last year with room sales up 6.7%
• RevPar (Revenue per available room) up 5.6%
• Average Daily Rate up 8.3%
• Group room nights expected to reach 64,000 in 2014
• CBI Guest Satisfaction score is 90.2 - 3rd best in the JW Marriott brand
• Bathroom project was completed on time and under budget
• AAA expected to complete its next evaluation mid-2014
• Fiber optic cabling project slated for completion mid-2014
• New Ambiente Golf Course opening in November will make CBI a destination golf resort
Kathleen Palmer, on behalf of Host Hotels reported:
• Partnership operating profit up 7% over last year, an increase of $600,000
• Partnership was refunded a $30,000 property tax overpayment
• FF&E Reserves were increased to 8% to defray borrowing costs
• Repayment on the renovation loan will begin when the loan is finalized
• Distributable cash for 2013 projected at $2.6 million, or $5,872 per 25 CEPI Unit
• Distributions are up 6% to budget and 61% over 2012
John Heller, Secretary announced the election of Directors Jim Montgomery and Charles Clist and approval of the Minutes of the 2012 Annual Meeting and of the 2014 Budget.
David Bartholomew addressed the meeting on web site and communications issues. Biffie Kelly congratulated Jim Rose and his team on the bathroom renovations and discussed other projects under consideration by the Property Planning Committee.
Joel Stein, President, concluded the meeting with a discussion of the approved budget and presentation of the Golf Awards.
|
| Board of Directors sets next two meeting dates |
|
The Board of Directors met on Monday, December 9, 2013, at 5:00 p.m. MST with the Board Members attending via telephone conference. At the meeting discussion involved the Board's duties under Section 20, appointment of owners to fill committee vacancies and preparations for the October, 2014 Annual Meeting.
The meeting will be continued on Monday, February 3, at 5:00 p.m. MST. The Board also scheduled a meeting for April 28, 2014 at 5:00 p.m. Official Notice and Agenda will be sent closer to the meeting date. All Co-Owners are welcome to listen to the meetings by calling the toll-free conference line at 800-567-5900 conference coder 236529.
|
| New Camelback room rates effective December 15, 2013 |
|
On Sunday, December 15, the rate for a standard room at Camelback Inn was changed to $229.00 per night. We have been advised that this rate will remain in effect until December 25, 2013. While it remains in effect, this is the rate that will be used to calculate the number of days your unit will be charged when using vacation time at a reciprocal property. To access the full list of rates, including rates for Sundeck units, click the "Camelback Room Rates" tab on the left. Please keep in mind that all rates are subject to change.
|
| Units Available for Resale now on the web |
|
Thanks to the cooperation of Host Hotels and Resorts, Inc.; we are now able to post on our web site a list of those Units that are currently being offered for sale by other Co-Owners. The current list was updated on December 2, 2013. To view the list, log on and click the "Units Available for Resale" tab on the left.
|
| Take the December Co-Owner Survey |
|
The Board of Directors is interested in learning about your preferences and priorities as an investor in Camelback Inn. We have prepared a short survey which you can access by clicking the "December Survey" link below the box marked "Co-Owner Ballots" on the left. Thank you for your participation.
|
| Making Camelback reservation requests on your computer |
|
You can request your room reservations at Camelback Inn on-line. Go to the "Reservations Form" page and follow the instructions. You will receive a confirming email from the Camelback Inn Reservations Office.
When visiting Camelback Inn during high season, we recommend that you make Spa and dinner reservations prior to your arrival. The Inn's Concierge Staff, 480-948-1700, is available to help with all of your reservation requests including dining and entertainment off property. Hertz cars can be reserved directly with the Hertz agents on property by calling 480-948-8450.
If you have any other questions or need technical help with your access to the Co-Owner web site, do not hesitate to send an email to dcbartholomew@aol.com.
|
| Board plans continued innovations for the web site in 2014 |
|
The Communications Committee is pleased to report that Co-Owners dramatically increased their usage of the web site in 2013 and many took advantage of the on-line reservation request feature. To date we have established web access for 245 users. Users viewed an average of 6.8 different web pages and spent an average of 7:18 minutes on the site. This year we sent 11 periodic newsletter emails and most users opened and viewed their emails the day they were received.
We plan to bring more content, new features and technical innovation to the web site in 2014. We will continue to keep you informed with these periodic email newsletters. Thank you for your use and support of the web site and our communications efforts.
Currently there are two Co-Owners serving on the Communications Committee, David Bartholomew, Chair and Jack Florio. The Board needs to appoint a third member to serve until the next Annual Meeting in October, 2014. If you are interested in serving on the committee, please contact David Bartholomew, Chair at dcbartholomew@aol.com or notify a Board Member.
Season's Greetings and best wishes for a Happy New Year.
The Board of Directors
Marriott Resort Hotel Condominium - Camelback Inn
|
|
