President’s Message
“State of the Resort”Address
(continued)
Financial Status
First, it is of utmost importance to the Association that we maintain its financial health. Partnered with Grand Pacific Resorts, Tahoe Beach & Ski Club is experiencing a terrific financial year. By the end of October 2015, we have achieved over $3.4 million in revenue, as compared to a budget of $3.1 million – an improvement greater than $380,000! The dedicated efforts of the Grand Pacific Team working in Carlsbad and at the Resort provided the $97,000 improvement in Excess Room Rentals and the $290,000 in Bad Debt Recovery. Typically, expenses also see an increase; however, it can be reported that there is a savings of over $96,000 YTD in Total Salaries and Wages expenses.
As a result, the Association is realizing a Net Income of $697,000 YTD – an improvement to the budget of about $450,000. This figure is in vivid contrast to the net loss of $325,000 last year! The welcomed news is that the Owners will experience a zero increase in their 2016 Maintenance Dues, while we continue to fund our Reserves. Even with the zero increase, the Board is committed to maintaining the Resort in top-notch condition and to investing in our bright future.
Owner Usage
Second, Owner Usage is an important metric to evaluate when reviewing overall Owner engagement and to be able to project future bad debt. Incidentally, there is a 5.4 percent decrease in Bad Debt on a year-to-year comparison.
Another positive result can be reported – Owner usage and Owner reservation activity has dramatically increased by 12 percent! Additionally, there is a major improvement in the percentage of Owners who are using their weeks or exchanging them; up from 79 percent to over 82 percent.
Making contact with Owners has improved significantly during 2015 after Grand Pacific Resorts took over management of our Resort. In ongoing efforts to update Owner contact information, to better engage with Owners, and to drive participation and utilization, GPR recently introduced the Hawaii Give Away promotion to encourage Owners to respond. A winner for that promotion will be announced soon.
Level of Owner Services
Third, the level of services received by our Owners staying at the Resort and the positive interaction with our Staff are of utmost importance to our continued success. During 2015, this level of services increased noticeably as reflected in the following measurements:
• Trip Advisor Rankings: 7 out of 70 properties listed in South Lake Tahoe, moving up
from number 24 at the beginning of the year
• RCI Scores in all categories, comparing December 2014 to November 2015, with these results:
1) Check In/Out, Staff Responsiveness, Atmosphere, and Resort Maintenance
– three (3) point improvement
2) Unit Housekeeping, Resort Hospitality, and Resort Amenities – two (2) point improvement
3) Combined Service Scores – at or above goal in all categories
4) Net Promoter Score (NPS), which measures whether or not an Owner or guest would
recommend the Resort to someone else – improved from 68 percent
(Week One) to 92 percent (Week 48)
Associated with the desire to increase the level of Owner Services and Owner Engagement, the Document Review Committee, with the support and help of GPR, solicited Owners to create a Focus Group to review, to improve, and to update our Rules and Regulations in an open, transparent, and fully Owner-engaged manner. The ultimate goal of all who will be involved, including Grand Pacific Resorts, is to elevate Owner Satisfaction and Owner Utilization. Please, I want to put to rest the notion of many Owners that there is some hidden motive or agenda to benefit a select few to the detriment of the majority of Owners. I want to remind all that this open process of soliciting, encouraging, and involving Owners have never been previously allowed or entertained. Let us move forward and allow Owners the opportunity to voice their concerns or to submit their ideas – constructive or otherwise.
Phase 5 Renovation
Fourth, we completed Phase 5 of the renovation at substantial savings in per unit cost as compared to prior phases. Only with the help and construction experience of Grand Pacific Resorts were we able to achieve savings of over $60,000 per unit.
Staff Changes
On a somber note, I want to inform the Owners that Tamara Hollingsworth has resigned as Resort Manager. She indicated that she wanted to pursue, after 16 years as Manager of Tahoe Beach & Ski Club, other opportunities that have been presented to her. Without question, we appreciate all her services she has given to our Resort, and wish her the very best in her new endeavors.
Looking to the future, I am pleased to welcome James Tennery to the Tahoe Beach & Ski Club Team as General Manager. James is also the Area Manager for Grand Pacific Resorts; however, he will devote a majority of his time working at the Resort. Working alongside him will be our Pattie Pearson, who has been with us for over ten years and will continue her professional development as our Assistant General Manager. Please join me in wishing them both success in their efforts on behalf of Tahoe Beach & Ski Club.
Additional information regarding the Leadership Team is included in another article of this newsletter.
Owner Services
I want to encourage you to visit GrandPacificResorts.com/Owners-Community for more information regarding your Ownership and how to use it throughout the year to save money and to travel more. If you have any questions, please call Grand Pacific Vacation Services at (888) 477-6067.
Also, be sure to learn if Grand Pacific Exchange (GPX) can be of help to you. It is our internal exchange program where you do not have to pay any annual fees. Positive features are:
• You can look before you deposit your week
• You can gift your week(s) to friends or loved ones for free
• You can take extra vacation with Bonus Time, when available, or Insider Weeks, which start at $349
Another GPR program that may be of value to you is the Grand Opportunity (GO), visit MyGrandOpportunity.com to learn more. Briefly, GO gives Owners a way to purchase items from your Resort that you may want for your home or as gift ideas:
• Bed and bath items
• Showerheads
• Mattresses
• Speakers
• Linen sets
• And more on this site, which are provided at cost
Personal Note
While 2015 has been an eventful year for Tahoe Beach & Ski Club, undoubtedly 2016 shall usher in an even better year!
Wishing you and your family a warm and safe holiday season on behalf of the Board and Grand Pacific Resorts,
Alfred Fong