Powhatan 2010 MF's now Billed

[dwmantz]

We received the following bills for 2010 -

4BR unit - $1215 (09 1193)
2BR unit - $1026 (09 977)
3BR unit - $881 (09 838)

I'd call this seriously holding the line! Thanks DRI!

Some may be confused, a 2BR at POW is a lockout of two full 1BR units. It is NOT half of a 4BR unit. In points, it is worth significantly more than a 3BR unit.

[dwmantz]

We are pleased to tell you that a combination of your Board’s conservative approach to budgeting and strict cost control by resort management has allowed us to accumulate an operating surplus. This surplus has been incorporated into your 2010 maintenance fees, resulting in an increase of approximately 4.5% this year even though we will be undertaking some major projects to enhance the resort and the costs of utilities and supplies are projected to increase significantly. We believe this is very welcome news in these challenging economic times.

Even though your Association is a nonprofit organization, it receives certain revenues other than maintenance fees, which are used to offset some expenses. These revenue streams include rentals, extra cleaning fees, activities, the Powhatan Store (primarily attraction-ticket sales), The Kitchen, The Grill, and interest income. The Board reviewed the forecasted receipts for 2009 and, taking a conservative outlook based on anticipated consumer spending, a planned reduction in the hours The Kitchen and The Grill are open, and current interest rates, reduced the projected 2010 revenues for these items by approximately $627,000 from what was budgeted in 2009. We also anticipate our 2009 actual revenues related to these items will be below what was budgeted in 2009.

The Board must work with projected costs at the time the budget is created, and at this time last year, we were experiencing volatile commodity prices that were putting upward pressure on many costs, which caused us to budget for a worst-case pricing scenario. Fortunately, that environment has subsided and your resort team has kept the costs it can control in check. Additionally, many of the revenue sources that experienced lower sales—the Powhatan Store, The Kitchen and The Grill—saw a corresponding decrease in expenses. At this time last year, the Board anticipated the Association would be carrying an operating deficit at the end of 2008 and we budgeted to erase this deficit by the end of 2009. The above-mentioned savings in operating expenses are forecast to result in a greater-than-expected surplus for 2009, which will eliminate the prior-year deficit and provide a cushion for any unplanned expenses that could arise between now and the end of the year. Payroll expenses are budgeted 8.2% below 2009. Savings from reduced hours at the Powhatan Store, The Kitchen and The Grill, as well as using more contract labor for Housekeeping and Grounds, are driving the decrease. Some of the savings will be used to hire an Assistant General Manager for the resort and establish two quality-assurance coordinator positions. The QA coordinators will be charged with identifying and addressing any issues by walking the units on turnover days to coordinate the efforts of housekeeping and maintenance, which will go a long way to eliminating the simple problems that generate many owner and guest complaints. Payroll savings will offset some of the increase in operating expenses, which are up 7.6% due to the heavier reliance on contract labor, while several items, such as supplies, printing and postage, as well as administrative and management support services expenses, are expected to increase, too. We are again budgeting for a significant increase in utility expense, with electricity expected to jump 18% in 2010, but anticipate some relief in insurance expense.

[DRIvaDiva]

4BR C/D unit - $1215 (09 1193)
2BR A/B unit - $1026 (09 977)
3BR Single8 unit - $881 (09 838)

Here's what I just saw posted on one board I visit
DOES ANYBODY HAVE ANY INFO REGARDING THE RUMOR OF A 3-4K ASSESSMENT FOR POWHATAN WEEKS OWNERS?

[rikkis_playpen]

When fees are posted in the individual chain threads like this one, are they still added to the resort database? If not, should a duplicate post be entered http://www.timeshareforums.com/forum...ance-fees.html (2010 Maintenance Fees)?

[rikkis_playpen]

Originally Posted by dwmantz

Some may be confused, a 2BR at POW is a lockout of two full 1BR units. It is NOT half of a 4BR unit. In points, it is worth significantly more than a 3BR unit.

Are you sure about this? With the data I show in my system under this resort, the 3br is just slightly higher in points than the 2br deluxe. Is there an error in my data (shown below)..?


The Historic Powhatan Resort
Unit- sleeps- low- mid- high- peak
1 Bedroom Upstairs- 4/2- 2,000- 3,000- 4,000- 5,500
1 Bedroom Ground Floor- 4/2- 2,500- 3,500- 4,500- 6,000
2 Bedroom- 6/4- 3,000- 4,000- 5,500- 7,500
2 Bedroom Deluxe- 6/4- 4,000- 5,000- 6,500- 8,500
3 Bedroom- 8/6- 4,000- 5,000- 7,000- 9,500
4 Bedroom- 12/8- 6,000- 8,000- 11,000- 15,000
4 Bedroom Deluxe- 12/8- 8,000- 10,000- 13,000- 17,000

2010 Weeks 1-13, 16, 45-47, 49-50 17-20, 37-44 21-26, 28-36 14-15, 27, 48, 51-53

[DRIvaDiva]

Originally Posted by rikkis_playpen

Are you sure about this? With the data I show in my system under this resort, the 3br is just slightly higher in points than the 2br deluxe. Is there an error in my data (shown below)..?


The Historic Powhatan Resort
Unit- sleeps- low- mid- high- peak
1 Bedroom Upstairs 'B'- 4/2- 2,000- 3,000- 4,000- 5,500
1 Bedroom Ground Floor 'A'- 4/2- 2,500- 3,500- 4,500- 6,000
2 Bedroom 'C' or 'D' - 6/4- 3,000- 4,000- 5,500- 7,500
2 Bedroom Deluxe 'C' or 'D' - 6/4- 4,000- 5,000- 6,500- 8,500
3 Bedroom 'Single8' - 8/6- 4,000- 5,000- 7,000- 9,500
4 Bedroom 'C&D' - 12/8- 6,000- 8,000- 11,000- 15,000
4 Bedroom Deluxe 'C&D'- 12/8- 8,000- 10,000- 13,000- 17,000

2010 Weeks 1-13, 16, 45-47, 49-50 17-20, 37-44 21-26, 28-36 14-15, 27, 48, 51-53

A 2BR Deluxe is a brand new unit in one of the two brand new buildings. The 2BR A/B is a 2BR lockoff (not a 4BR lockoff) that consists of an 'A' and a 'B' unit, two complete 1BRs. It is the exact same floorplan as a 3BR Single8 unit but has the door to separate the top top floor (and loft) from the bottom floor. In RCI when you see a 2BR sleeps8 offered, that is the A&B and NOT the C or D.

[rikkis_playpen]

Thanks! This industry is always a learning experience for me...

Would the points required for the 2br AB be determined by simply adding the A & B points?

[DRIvaDiva]

Originally Posted by rikkis_playpen

Thanks! This industry is always a learning experience for me...

Would the points required for the 2br AB be determined by simply adding the A & B points?

Yes, but as you can see from the chart, they really don't offer you the chance to reserve a 2BR A&B. If you reserved the A and then the B and wanted them together you would have to request the resort to try to make that happen as a request.

[DRIvaDiva]

Originally Posted by DRIvaDiva

Here's what I just saw posted on one board I visit
DOES ANYBODY HAVE ANY INFO REGARDING THE RUMOR OF A 3-4K ASSESSMENT FOR POWHATAN WEEKS OWNERS?

Here's the answer from a Powhatan HOA Board Member (not one of the three Demployees):
...according to a non-employee board member, a major assessment appears likely.

You heard it here first (or maybe second)!

[lawren2]

Originally Posted by rikkis_playpen

When fees are posted in the individual chain threads like this one, are they still added to the resort database? If not, should a duplicate post be entered http://www.timeshareforums.com/forum...ance-fees.html (2010 Maintenance Fees)?

Things would be much simpler if the MFs were cross-posted to the main thread. It is an on-going project but one that benefits all of us. Everyone's help is appreciated.