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RHC - Special Assessment dtd 10/01/2008
Originally posted by RHC
Vacations for life!
10/01/2008
Member
Member Account: xxxxxxxxx-x
Dear Member,
It is no news that the relentess rise in prices in every area of our lives is creating an untenable situation at home, in our communities and around the world. Air lines, cruise lines and some other operators are adding extra fees to support their expenses.
No one is immune to the costs of putting gas in the car, paying for electricity or running a business. Royal Holiday is doing everything possible to deal with this situation. It's noteworthy to mention that while our competitors have passed on increase after increase to their members, we've held back.
Whenever we can absorb a loss to provide savings to our members, that's what we do - it's one of our competitive advantages. Despite that, we are currenty at a point where something has to give. In today's global context of a weak dollar and drastic surges in gasoline, electricity and operating costs, RH now finds itself obligated to implement a contingency plan to offset operating expenses (please see supplemental Increase Chart).
After looking long and hard at how we can handle the increases at literally every hotel we have offered (for the last two years), RH has concluded that a Special Assessment is needed to get us through what most forecasts indicate is a temporary bear market. This will solve increases for 2007, 2008 & 2009.
A Special Assessment at this point will give the company the extra income it absolutely must have to 1). Deal with what appears to be a situation that won't go beyond 2009, and 2). Continue to maintain annual fees as low as possible.
To do this the fairest way, the Special Assessment will be calculated proportionately based on each member's level of annual Holiday Credits, using a flat rate of 0.80 cents per HC.
For a Membership of 30000 Holiday credits like yours the SA will be $240.00 dollars.
In appreciation of our responsible members who take care of this Special Assessment by this upcoming November 30th deadline, Royal Holiday will pro\Tide a 7-night Vacation courtesy that can be used for more vacation time at any Park Royal hotel in Mexlco*, Oasis hotel in Cancun*, or Princess hotel In the Dominican Republlc* during 2009.
Royal Holiday remains steadfast in our pledge to always offer you the best service, best destinations and best prices for a lifetime of memorabJe vacations.
Susana Williams
Royal Holiday's Club Manager
*Subject to availability. Not valid during Prime Season. All Inclusive Mandatory Fee applies.
10/01/2008
Member
Member Account: xxxxxxxxx-x
Dear Member,
It is no news that the relentess rise in prices in every area of our lives is creating an untenable situation at home, in our communities and around the world. Air lines, cruise lines and some other operators are adding extra fees to support their expenses.
No one is immune to the costs of putting gas in the car, paying for electricity or running a business. Royal Holiday is doing everything possible to deal with this situation. It's noteworthy to mention that while our competitors have passed on increase after increase to their members, we've held back.
Whenever we can absorb a loss to provide savings to our members, that's what we do - it's one of our competitive advantages. Despite that, we are currenty at a point where something has to give. In today's global context of a weak dollar and drastic surges in gasoline, electricity and operating costs, RH now finds itself obligated to implement a contingency plan to offset operating expenses (please see supplemental Increase Chart).
After looking long and hard at how we can handle the increases at literally every hotel we have offered (for the last two years), RH has concluded that a Special Assessment is needed to get us through what most forecasts indicate is a temporary bear market. This will solve increases for 2007, 2008 & 2009.
A Special Assessment at this point will give the company the extra income it absolutely must have to 1). Deal with what appears to be a situation that won't go beyond 2009, and 2). Continue to maintain annual fees as low as possible.
To do this the fairest way, the Special Assessment will be calculated proportionately based on each member's level of annual Holiday Credits, using a flat rate of 0.80 cents per HC.
For a Membership of 30000 Holiday credits like yours the SA will be $240.00 dollars.
In appreciation of our responsible members who take care of this Special Assessment by this upcoming November 30th deadline, Royal Holiday will pro\Tide a 7-night Vacation courtesy that can be used for more vacation time at any Park Royal hotel in Mexlco*, Oasis hotel in Cancun*, or Princess hotel In the Dominican Republlc* during 2009.
Royal Holiday remains steadfast in our pledge to always offer you the best service, best destinations and best prices for a lifetime of memorabJe vacations.
Susana Williams
Royal Holiday's Club Manager
*Subject to availability. Not valid during Prime Season. All Inclusive Mandatory Fee applies.
Studio week was $115
. You are just one min before I paln to post it.
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