daviator
TUG Member
- Joined
- May 8, 2011
- Messages
- 1,662
- Reaction score
- 1,543
- Location
- San Francisco, CA
- Resorts Owned
- WKORV, WKORVN, WDW, Westin FLEX, Marriott's MOC, Abound (Trust) Points
Today I attended the Westin Desert Willow annual meeting.
I‘ll start with the news that owners most want: maintenance fees will increase 4.2% this time around. That is especially reasonable when you consider that only 1% of the increase is for operations, the other 3.2% reflects a 20% increase in collections for reserves. During the last few years, because of the huge increases in labor and other costs, they did not increase reserve funding and thus the reserves are a bit underfunded and they need to get them back to where they need to be. I think the increase is very reasonable and having sufficient reserves is fair to all owners and avoids the need for special assessments later on (special assessments, while sometimes a necessary evil, are NOT fair to current owners, as the need for a special assessment really means that owners of previous years didn’t pay in enough.)
I am impressed with the new – as of a year or so ago – GM, and now WDW has its own GM and no longer shares a manager with WMH. I think you can see the difference at the property.
Agave Grill now has a new menu with special offerings every night. There is a new food and beverage manager who seems to be doing good work.
They just completed a replastering of the Quiet Pool and I think they said that Ironwood would get done in 2025. There is another soft refurbishment of villas planned to begin in 2029, and in 2041 the property will receive its first total refurbishment in which they take units down to the studs and essentially build them anew. While that’s a long way off, I appreciated knowing about it and that the board was budgeting and collecting reserves to ensure that the quality of the property stays high.
i will post photos I took of a few of the slides they showed, and I’m happy to answer any questions about what was discussed.
It’s also worth noting that one of the attached slides is the first confirmation I’ve seen that the new Westin Vacation Club properties being built in Charleston and Savannah will not be in VSN. Most of us assumed that but the slide seems to confirm it.
I‘ll start with the news that owners most want: maintenance fees will increase 4.2% this time around. That is especially reasonable when you consider that only 1% of the increase is for operations, the other 3.2% reflects a 20% increase in collections for reserves. During the last few years, because of the huge increases in labor and other costs, they did not increase reserve funding and thus the reserves are a bit underfunded and they need to get them back to where they need to be. I think the increase is very reasonable and having sufficient reserves is fair to all owners and avoids the need for special assessments later on (special assessments, while sometimes a necessary evil, are NOT fair to current owners, as the need for a special assessment really means that owners of previous years didn’t pay in enough.)
I am impressed with the new – as of a year or so ago – GM, and now WDW has its own GM and no longer shares a manager with WMH. I think you can see the difference at the property.
Agave Grill now has a new menu with special offerings every night. There is a new food and beverage manager who seems to be doing good work.
They just completed a replastering of the Quiet Pool and I think they said that Ironwood would get done in 2025. There is another soft refurbishment of villas planned to begin in 2029, and in 2041 the property will receive its first total refurbishment in which they take units down to the studs and essentially build them anew. While that’s a long way off, I appreciated knowing about it and that the board was budgeting and collecting reserves to ensure that the quality of the property stays high.
i will post photos I took of a few of the slides they showed, and I’m happy to answer any questions about what was discussed.
It’s also worth noting that one of the attached slides is the first confirmation I’ve seen that the new Westin Vacation Club properties being built in Charleston and Savannah will not be in VSN. Most of us assumed that but the slide seems to confirm it.
