2012 All Around Performance

Transcription

1 March 2013 Owner Update 2012 All Around Performance We are proud to announce that the WorldQuest management team won Remington s top award for achieving all five company drivers/goals in These are: guest satisfaction, employee empowerment, asset maintenance, market penetration, and financial performance. This is the 2nd consecutive year that WorldQuest won the top award throughout Remington s portfolio of 70 hotels and the 4th time in 6 years that we ve achieved all five goals. As a result of Tim s outstanding leadership and WorldQuest s superior results, Tim was inducted into the President s Club, an honor reserved only for Remington s top performing General Managers. This year just 10 of the 70 General Managers were inducted into this exclusive club. Trip Advisor s Travelers Choice Awards In addition to the Remington award, WorldQuest was also awarded two of Trip Advisor s coveted Travelers Choice awards in We are now rated the 3rd most popular Family destination in the United States (up from #7 last year) and 7th World wide (up from 14th in 2012)! Congratulations! WorldQuest Orlando Resort won 2013 Travelers Choice awards: Top 10 Hotels for Families in the United States Top 25 Hotels for Families in the World Travelers Choice awards are based on millions of reviews and opinions from TripAdvisor travelers. We hope you ll take great pride in this recognition from your guests. As our reviews indicate, WorldQuest continues to Wow families with our spacious condominiums and dedication to customer service and guest satisfaction. We continue to remain in the top 10 of all Orlando-area hotels.

2 The Remington Did you know...remington Manages over 70 hotels nationwide, including Hilton, Marriott, Hyatt Regency, Westin, Crown Plaza, Sheraton, and Renaissance families. We also manage several independent hotels, of which WorldQuest is one. Please take a moment and familiarize yourself with the Remington portfolio by visiting our website at s standards mandate that every unit receives Preventative Maintenance no less than once a quarter, and all carpets are cleaned by an outside cleaning service quarterly....remington has an Internal Audit that verifies Remington s standards are in place for all operational and financial aspects of the hotel s operations. WorldQuest got a jump on our 2013 asset maintenance goal by receiving a Commendable on our January audit....as a WorldQuest unit owner you are eligible for a Friends & Family Rate at Remington-managed hotels (70 hotels & resorts nationwide). Please contact Heather and she will confirm availability and rate with the destination hotel and communicate back to you....worldquest participates along with all other Remington Hotels in the STAR reporting alliance which monitors our Revenue Performance against our competition. This is one of our goals that measures our market penetration. Like we say in our orientation,...it is not enough to keep up with our competition; we need to beat it......our Guest Satisfaction driver is measured by an independent third party. Every WorldQuest guest is provided an opportunity to rate their stay, either by a comment card provided at check -out or an response that is sent out to every guest. To achieve our goals, WorldQuest must be in the top 25% of all participating independent hotels. We are proud to say that we ve achieved this goal every year that WorldQuest has been open. Rental Program News Rental Program & Real Estate Recently there seems to be an increase in real estate transactions and thus a potential for an increase in property values. WorldQuest continues to grow and we are pleased that we now have 218 units in our rental program. Occupancy & Forecast by the Numbers The resort continues to market extensively both to maintain the occupancy and

3 improve the average rates. All advertising & marketing expenses are absorbed entirely by Remington. In 2013 we will continue our alliance with Expedia and our wholesalers worldwide, continue to develop relationships in the Brazilian market, and join Visit Orlando s advertising efforts with our Canadian neighbors. YTD Occupancy (2012): WorldQuest: 75.1% Metro Orlando: 69.1% International Drive: 71.0% Lake Buena Vista: 76.3% Orange County: 72.2% YTD Average Rate (2012): WorldQuest: $ Metro Orlando: $96.62 International Drive: $ Lake Buena Vista: $ Orange County: $ Website We have new photos for our website please check them out at As soon as the Linen Refresh is complete, you will be able to see new room shots too. Management Staff 2012 saw some Manager changes that we hope you ve been made aware of. First on deck was the addition of Vanessa Velez as Front Office manager. Vanessa comes to us from The Fountains Resort where she was the FOM, Engineer of Public Areas, and Night Manager. Vanessa has also worked as Director of Operations and Condominium Liaison for Avista Management and Assistant General Manager at the Hampton Inn in Orlando. Stepping into our Chief Engineer position is Julio Bayon. Julio brings a wealth of experience and knowledge into the department. He was most recently the Chief Engineer at the Staybridge Hotel & Suites here in Orlando. Prior to that Julio was the Facilities Director at the Embassy Suites in downtown Orlando and the Assistant Chief Engineer at the Adams Mark Hotel at the Florida Mall. Julio has already made a significant impact inside the units with his carpentry, plumbing, and tiling skills. Outside the unit, he has brought many projects in-house, thereby saving the COA maintenance dollars. In addition to the above changes, we now have Heather Sweeten as the Condo liaison. She is your one-stop-shop for all your reservation, statement, and COA questions. Heather s direct line is and heathersweeten@ worldquestorlando.com.

4 Inside Your Suite New Linen Refresh for all rooms Scheduled for spring This new look will help bring all of our bedrooms into the 21st century as we ll replace the tired and dated bed spreads with crisp comforters sporting a neutral banner and bed skirt. The pillows will be stacked to add even more dimension to the bedding, thus creating an inviting resort feel to the room. Flat Screen Televisions We would love to complete the room upgrades with flat-screen TV s (living room only). Ashford is committed to completing their 94 units in 2013, but we want to be prudent and ensure your individual owner reserves can support this purchase. If you would like your individual unit to have flat screen TV s please contact us and we can discuss your reserve account and pricing. We would be pleased to install new TV s to your unit ahead of schedule. Mattress Replacement The King mattresses were replaced in buildings 1, 2 & 3 in Buildings 4, 5, 6 & 7 are scheduled for the summer of This will provide increased comfort in the master bedroom with a high quality Serta mattress. COA News Developer turnover of COA coming in 2013 This summer marks the turnover of the COA from Developer to the Owners. We ll be providing more details as we get underway in Right now we are planning to hold the annual elections in July, as we will be adding two more board positions making a 5 member board of directors. We would also like to have a Meet and Greet poolside reception with the current directors and any interested owners prior to the Annual Meeting. We will firm up the date soon for those of you wishing to attend. COA Reserves We re pleased to report that our reserves are funded per the approved budget schedule. This ensures that major replacement costs (roof, elevators, etc) have monies available thus eliminating the need for any preventable special assessments. Parking Lot Update We completed a full reseal of the parking lot in January of During this upgrade we also repaired the exposed aggregate in an area in front of building 6. Also note, to give a crisp inviting impression for our owners and guests arriving at the resort, the curbs are painted every Monday.

5 Building Cleaning We have begun power washing the exterior walls of buildings 1, 2 & 3. This will add to the overall first impression of the resort that is so important to our visitors. This project was started in December of 2012 and will continue through the spring of We will continue to do everything we can to provide great vacation memories for owners and guests at WorldQuest Orlando Resort, and look forward to continued success in Sincerely, Tim P. Gross General Manager Join Our Networks flickr.com/photos/worldquestorlando twitter.com/wq_orlando youtube.com/user/worldquestorlando facebook.com/worldquestorlando