I appreciate the trust you place in us with your investment. Improvement efforts will continue throughout the coming year.

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Quarter 1 2016 North Myrtle Beach Homeowner News straight from your local team BAY WATCH RESORT: Letter From Your General Manager We are off to a great start in 2016 that included a record breaking March and a very solid first quarter. We ve hosted a variety of sports and cheer groups as well as some wonderful spring break families. Our TripAdvisor rating continues to improve and we will strive to keep the momentum going. We have completed adding new weather stripping on all exterior doors to reduce drafts and noise. We ve also installed an outdoor enclosure around Fishtails Beach Bar allowing guests to enjoy our outdoor pool bar despite wind and weather. We have new furniture in place in this area as well. Sandtrap has undergone some remodeling with new paint and carpet replacement. This space provides a clean, comfortable environment in which our guests can relax and take in a sporting event on one of our many televisions. Tony Cape has joined our food and beverage team as chef. He brings years of culinary experience to our team and is excited about introducing some new menu items and specials. I appreciate the trust you place in us with your investment. Improvement efforts will continue throughout the coming year. Alan Peterson, General Manager LETTER FROM YOUR HOMEOWNER REPRESENTATIVE: Sue Bass The deep cleans have been completed with only a few exceptions due to some of our Snowbirds that departed later in the season. Recommendations for upgrades were mailed prior to the Home Owner s Association meeting and many owners are in the process of undergoing major upgrades. We ve also completed unit grading and those have been shared with you. We sincerely thank you for placing your trust in us. Feel free to stop by and see us anytime! We love talking with you. Sue Bass, Homeowner Services 1

REVENUE UPDATE: Q1-2016 The first quarter of 2016 was a great quarter for us at Bay Watch Resort. Occupied nights were up for all three months. ADR (Average Daily Rate) was up as well over the same quarter last year. In addition to daily monitoring of our social media and review sites, the marketing team has converted all email communications into mobile friendly versions, resulting in higher open rates as well as higher click rates on the calls to action. We appreciate the investments you make in your unit. Upgrades go a long way in enhancing the overall guest experience. If you need more information on the current status of your individual unit, please contact your homeowner representative. GOLF UPDATE: Sales Staff Attends Golf Shows in Major Markets Oceana Resorts Golf Sales staff attended shows in both Philadelphia and Cleveland, promoting stay-and-play golf packages offered by Oceana Resorts. The timing of the shows was perfect, with cold weather in both cities contrasting the mild weather here at the beach. The shows have already resulted in bookings for this spring as well as many inquiries for the fall. There were over 15,000 in attendance at each show, both of which are key golf markets for the Myrtle Beach area. The Sales Staff also personally made contact with over 1,200 attendees at each show. As a friendly reminder, don t forget to take advantage of our Homeowner No Greens Fees program. Several area golf courses have partnered with Oceana Resorts to extend a fantastic benefit just for our valued homeowners. Visit http://www.oceanaresorts.com/benefits/nogreensfee/ for more details. As always, we also have great rates at courses that are not included in the program. To take advantage, call the Oceana Resorts Golf Specialists toll free at 877-840- 8464. GROUP SALES UPDATE: A Strong March Group sales had a remarkable first quarter experiencing an amazing increase over the same quarter last year. This was due mostly to sports groups as we hosted a number of soccer and baseball tournament guests as well as several cheerleading groups. We were also hosts to some corporate and military guests. March was by far the best month for group sales with substantial increases compared to March 2015. We look forward to continuing to develop our group business. 2

DESTINATION NEWS: Snowbird Season As will be mentioned in several articles, first quarter occupancy is primarily comprised of our annual Myrtle Beach Snowbirds. Many events are held to cater to this group of travelers, from city sponsored events to small gatherings at area resorts. Oceana Resorts was happy to hold our annual Snowbird Wine and Cheese receptions at Bay Watch Resort, which included our Atlantic Breeze Snowbirds, and at The Patricia Grand for all of our resorts in the downtown area. The turnout was great at both events, which featured free beverages, tasty treats, and plenty of raffle prizes and giveaways as a way of saying thanks. This year, in addition to raffles, guests who have stayed with us for 3+, 5+, and 10+ years were given some awesome gifts by our Vice President of Operations, Kim Sanborn. Our Oceana Resorts marketing team, who helped coordinate the wine and cheese events, also had a presence at the We Love Our Snowbirds Reception, hosted by the North Myrtle Beach Chamber of Commerce at the Myrtle Beach Mall. Hundreds of Snowbirds received information about Oceana Resorts winter rentals and our resorts, plus our team was able to discuss our operations with a plethora of potential future guests. 1st Quarter Brings Marathon, Can Am Days and More March was a big month in the first quarter, with the Myrtle Beach Marathon being moved from its typical Valentine s Day weekend slot to March 5 th. Thousands of athletes and their families from across the world poured into the area for the full marathon, half marathon, and 5k. The 19 th annual race was won by a runner from Illinois, with a time of 2:39:51. There were some minor changes to the route this year, with the race taking place along King s Highway, Ocean Boulevard, and Grissom and Farrow Parkways. In addition, the Can-Am Days festival returned for the 55 th year. International visitors have been enjoying our beautiful beach towns for years, with numbers increasing annually. Several airlines, including Spirit, are now offering direct flights from Toronto, Niagara Falls, and other areas. A number of fun activities and events were planned to celebrate our Canadian and Snowbird visitors, such as free performances by Legends in Concert, free breakfasts at certain restaurants, golf tournaments, and celebrations at local malls. Many area businesses, including Oceana Resorts, also offered discount gifts for Canadian visitors. There are as many as 100,000 Canadian visitors in the Myrtle Beach area during this time! 3

MARKETING UPDATE: The Power of Building Relationships Marketing has been busy this quarter. I was able to meet many homeowners at the four annual homeowner s meetings held in the first quarter 2016. I truly enjoyed being able to talk a bit about what we re doing to make Oceana Resorts properties stand out from the others. We continue to monitor all review sites daily and are seeing improvement on TripAdvisor for all of our resorts. In addition, we have made significant progress on our Expedia response rate and are consistently over 85% for all properties. I also thoroughly enjoyed meeting many of our Snowbirds at both wine and cheese socials that were held (one at Bay Watch for our NMB snow birds and the other at Patricia Grand for our downtown snow birds). Each guest had the opportunity to provide feedback on our activities program and the responses were compiled into some very useful data. It was wonderful to be able to speak with so many of our guests in person. All of our email campaigns are now being deployed with responsive design in place. This means that the emails will adjust in size depending on which device they are being viewed. Responsive design results in significantly higher click through rates for those opening the campaign on their mobile phones (which is now approximately 65% of all recipients). Those clicks mean revenue for you which is a great thing! I m now representing Oceana Resorts on a Myrtle Beach Chamber committee and working hard to further develop strong business relationships in our communities. I attend monthly meetings for the North Myrtle Beach Chamber and am committed to building a solid foundation of leadership and trust within the business community overall. Anna Bowers, Marketing Manager ACTIVITIES UPDATE: Birds of a Feather The Arctic Tern wins the award for most migratory distance traveled in a year by any bird. Its migratory breeding route travels from the Artic North Pole to the Antarctic South Pole, seeing TWO summers every year, and flying an average distance of over 56,000 miles! One Arctic Tern was tracked from its home fledgling ground in Northumberland, UK, in the summer of 1982, to Melbourne, Australia just three months later in October. That s quite a bit of dedication to ensure the survival of your species. I often wonder what the long journey is like for the Arctic Tern, and if they feel gratification once they arrive at their intended destination. What magnificent sights did they see along the way, what new opportunities did they encounter in foreign lands, and what connections did they make once they arrived in their new port-of-call? This year, I was once again reminded of how our Oceana Snowbirds remain so very dedicated. They travel from a northern homestead to Myrtle Beach every winter, dedicated to our brand, with all that it represents. Such as the Artic Tern, our Snowbirds know that they never make their trip in vain. I believe that their destination with us is always worth the journey! And, it is certainly a testament to our dedication, as well. Applying our Wyndham Count On Me! spirit and culture gives us the daily opportunity to care for our extended family of Snowbirds every year. As your Activities Manager, I am proud to serve host to our Oceana Snowbirds, and provide them with the most available and wide-ranging activities, so that we can encourage them to keep returning every winter. Like the Artic Tern, our Snowbirds may have a long journey, but I like to believe that their destination is well-worth a million memories! Alex McLean, Activities Manager 4

UPCOMING MYRTLE BEACH AREA EVENTS Myrtle Beach Military Appreciation Days Parade May 28, 2016 Farrow Parkway, Myrtle Beach, SC 29577 Sun Fun Festival June 3, 2016 - June 5, 2016 Myrtle Beach Convention Center, North Ocean Blvd by the Skywheel, Myrtle Beach, SC 29577 Native Sons Salt Games June 4, 2016 - June 5, 2016 Old Pavilion Site between 8th Ave N and 9th Ave N on Ocean Bvd, Myrtle Beach, SC 29577 Myrtle Beach Hot Summer Nights June 6, 2016 - August 22, 2016 Myrtle Beach Boardwalk, Myrtle Beach 29577 Carolina Country Music Festival June 10, 2016 - June 12, 2016 On the Half Shell, 812 N. Ocean Blvd, Myrtle Beach, SC 29577 Independence Saturday Cookout July 2, 2016 On the Half Shell, Corner of Hwy 90 & St. Joseph Road, Littl, SC 29566 5th Annual Cupcake Eating Contest July 4, 2016 3751 Robert Grissom Parkway Myrtle Beach, SC 29577 Salute From The Shore July 4, 2016 Myrtle Beach Coastline Summerland Tour 2016 Featuring Sugar Ray, Everclear, Lit, and Sponge July 15, 2016 House of Blues 4640 Highway 17 South, North Myrtle Beach, SC 29582 34th Annual Summer Classic Arts and Crafts Festival July 29, 2016 - July 31, 2016 2101 N. Oak Street Myrtle Beach, SC 29577 Scotty McCreery Concert June 24, 2016 House of Blues 4640 Highway 17 South, North Myrtle Beach, SC 29582 Bay Watch Resort & Conference Center 2701 S. Ocean Blvd. North Myrtle Beach, SC 29582 866-270-2172 reservations@oceanaresorts.com www.baywatchresort.com Alan Peterson General Manager alan.peterson@wynvr.com Sue Bass Homeowner Rep. (843) 361-2103 sue.bass@wynvr.com Fran Greggs Guest Services Manager fran.greggs@wynvr.com John Biernesser Maintenance Manager john.biernesser@wynvr.com Gwen Dixon Housekeeping Manager gwen.dixon@wynvr.com 14 Sylvan Way, Parsippany, NJ 07054 Wyndham Vacation Rentals and related marks are registered trademarks and/or service marks in the United States and internationally. All rights reserved. 2016 Wyndham Vacation Rentals North America, LLC. All rights reserved. Printed in the USA.