The Four Core Beliefs of Sun Development

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2 Sun Development Sun Development Company was a venture owned and operated by local Aruban entrepreneurs, architects and engineers. The original goal of the company was to create interval ownership resorts on Aruba. On April 1st 1977, the company opened the Aruba Beach Club, the island s first timeshare resort and the 8th resort ever listed in the RCI portfolio. The success of the Aruba Beach Club led to another, even more ambitious project, the Playa Linda Beach Resort, a multi-level luxurious timeshare resort which would be located in what is now known as the high rise hotel area, which opened its first phase in 1983, Casa del Mar in 1986 and Costa Linda in In October of 1986 Sun Development, using the latest in construction techniques, opened Phase I of Casa del Mar Beach Resort, in record time. The resort would prove to be a unique concept from the other two properties as it was the first resort on the island with all two bedroom suites. The decision to take on the challenge of having only two bedroom suites, proved to be a great move as the first phase sold out before the building was even completed.

3 In 1987 Sun Development branched out its local interests beyond just hotels. The company acquired the famous Bali Restaurant, as well as a substantial interest in S.E.L. Maduro & Sons, one of the most prestigious travel-oriented companies on Aruba. In 1989, Sun Development opened the still very popular restaurant, La Trattoria el Faro Blanco, a gorgeous Italian restaurant right next to the California Lighthouse, with spectacular island views highlighting the beauty of Aruba. Sun Development also developed the Sun Plaza Shopping and Office Center and Tierra del Sol Golf Course and housing community. In total, Sun Development s investment in Aruba exceeded $170 million. Sun Development often referred to owners at their various resorts as Sun People, because regardless of what resort they owned, everyone was part of the Sun family. The company created a highly exclusive club of loyal owners, who to this day keep coming back to Aruba and contributing to the local economy. The trust Sun Development had in the talent of the Aruban people could be seen at every level of the company as locals made up a large part of their management, accounting and front office staff. All the managers were trained by prominent U.S. resort experts, but the one thing that the company knew that couldn t be replicated is the genuine and natural warmth of the Aruban people. The entrepreneurs Raymond Maduro, Dan Oduber and Tito Muyale, all believed the success of their businesses could be attributed in large part to the friendliness and ease with which Arubans communicated with visitors to their resorts.

4 The Four Core Beliefs of Sun Development Sun Development had four core beliefs that was not only posted at the company s headquarters, but also in all the resorts. 1. Develop tourist and leisure oriented projects and establish our position as a leader in the development of the Aruban tourism industry. 2. Assure that our obligations to our customers are fulfilled in an efficient, pleasant and professional manner. 3. Encourage employees in their careers and self-development, thereby helping them become better citizens of the Aruban community. 3. Operate profitably, thus guaranteeing the business continuity required to meet our responsibilities to employees, stockholders and the local community.

5 Although the company has since closed its doors, the properties and business models they created have had and continue to have a tremendous impact on Aruba and the local economy. Many of the owners who bought their lifetime ownerships in the 1980 s still come to the island with their families or have handed their timeshare down to the next generations, who grew up loving Aruba and continue to bring their kids here to experience the wonderful changes and people of this beautiful island. Sun Development started as a dream during a time when nobody thought Aruba needed tourism and 30 years later, tourism has become the biggest part of the local economy, of which timeshare is a large contributor every year, because of the young professionals who saw the potential in Aruba, the island they all love.

6 Casa del Mar Beach Resort: The Sun Will Always Rise The history of Casa del Mar Beach Resort is intrinsically linked to not only the Aruba Beach Club Resort, but the island of Aruba itself. In the 1970 s, the concept of hotels, let alone timeshare resorts was a new and unique one for Aruba. During that time there were mostly guest houses being used to accommodate any visitors to the island. Hotels were seen as something too big and luxurious for such a small island. The sentiment amongst locals was that Aruba didn t need a tourism industry, with the very successful Lago oil refinery, which accounted for the majority of the Aruban economy at the time. Even with the prosperity of the refinery, a young group of Aruban entrepreneurs had an almost clairvoyant vision of the future potential of the Aruban tourism industry. In 1974, the idea to introduce timeshare to Aruba was born. The dream of building Aruba s first timeshare resort, the Aruba Beach Club, would prove a difficult one to attain with seemingly near insurmountable hurdles in its path. Raymond Maduro, Dan Oduber and Tito Muyale were undeterred in the realization of their dreams and in 1977, the Sun Development company launched Aruba s very first timeshare resort, the Aruba Beach Club. All the years of struggle leading up to the opening of the beach club, were well worth the effort as the venture proved to be a rousing success. The Playa Linda resort was built shortly thereafter.

7 Sun Development would prove to be an important player in the years to follow as crisis struck the Aruban economy on March 31st 1985, with the closing of the Lago oil refinery due to global over supply. The shutdown of the refinery lead to the highest unemployment in Aruba to date. Mr. Maduro and his associates at Sun Development would prove to be a shining ray of hope in these dark times. In April of 1984, the company had announced its newest development, The Casa del Mar Beach Resort. Originally, Casa del Mar Beach Resort, was to be an extension of the 130 room Aruba Beach Club, but it was decided to make it an independent resort. The first stone of this new resort was laid in June of 1984, just months before the closing of the refinery. On October 4th 1986, Phase I of Casa del Mar Beach Resort opened its doors, welcoming 150 employees back into the work force. Aruba s tourism was taking off and Sun Development was at the helm, with Phase I sold out and demand for more inventory increasing almost daily, on July 17th 1987, the second phase of Casa del Mar Beach Resort was announced and Phase II was opened in January 1989, with many existing members of Aruba Beach Club and Casa del Mar buying or upgrading units in Phase II. The Casa del Mar Beach Resort has been through good times and turbulent times over the last 30 years, but just like the sun rises every day, so does this resort and its loyal staff.

8 Ambassador Wing At a construction progress news conference on the 12th of August 1988, the construction of the final phase (III) of Casa del Mar was announced. The Ambassador wing is the 3rd phase of Casa Del Mar Beach Resort. It was inaugurated on December 22nd of 1989 and the official Grand Opening was done by Mr. Phillip Glazier, a member of Casa del Mar Beach Resort. During the Grand opening ceremony, the Prime Minister at that time, Mr. Nelson Oduber, handed over a plaque to Raymond Maduro recognizing Sun Development for the many contributions to the Aruban Tourism Industry. The Ambassador wing consists of 40 beautiful one bedroom, one bathroom suites. The Ambassador Wing has its own swimming pool and pool deck. This year in December, the Ambassador wing will be celebrating its 27th anniversary.

9 Looking To The Future Casa del Mar Beach Resort now consists of 147 well-appointed units, although it can be referred to as a smaller resort, the accommodations are anything but small. The suites themselves are large and luxurious enough to comfortably sleep families of four to six people, depending on unit type. The resort features two types of suites: the Presidential and the Ambassador suites. No matter if you choose to spend your time in the tranquility of the Ambassador wing or the more fast-paced Presidential wing, both promise an unforgettable experience and the perfect place to stay while exploring the wonders or Aruba. The resort is undertaking several projects which will streamline guest services and exploring various green initiatives to reduce its global footprint. One of such projects includes adding a portal onto their website, which will allow members to; view and pay their maintenance fees online, view the annual convocation and vote online, list units for sale or rental as well as buying or renting additional weeks. Your Home Away from Home

10 Casa del Mar Beach Resort is continually finding ways to help the environment by cutting down on paper usage, installing more eco-friendly lighting fixtures to reduce energy usage and actively encouraging recycling. The resort has also replaced grass and plants with indigenous plants and cactus, which require less watering to cut down on the use of one of the islands most precious resources; water. Casa del Mar Beach Resort has risen from number 16 to number 7 on Tripadvisor.com and has been upgraded from a Select Resort to the highest ranking, Premier Resort, in the Interval International ranking of resorts worldwide. Casa del Mar Beach Resort has become an established timeshare property over the course of the last 30 years with an impressive sold out percentage and loyal owner base. As a timeshare which is 98% sold out, we do not have a need for the active marketing that others resorts do.

11 Looking ahead towards the future of the resort, the next five years look extremely bright for Casa del Mar Beach Resort, through their commitment to upgrading and elevating their services, the goal is continuing the prosperity of the past 30 years, well into the future. The resort, in conjunction with an interior designer, is in the process of developing a resort wide conceptual design scheme to blend the public areas with guest units and bring back the warm tropical feel our members love about Aruba. Renovations at the Casa del Mar Beach Resort are expected to be completed over the next few years. It is the goal of Casa del Mar Beach Resort to remain committed to improvements to customer service in the hopes that future generations will continue to see Casa del Mar Beach Resort as their ideal Aruban getaway for many years to come.

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