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Author	Topic: Mt Amanzi & ICW E-mail
swimca TUG Member Posts: 50 From: Canandaigua NY USA : Fairfield Flagstaff, Mt. Amanzi (2wks) Registered: Sep 2001	posted 04-14-2005 04:56 I just received this e-mail this morning. Does anyone have any details on what is going on here? Subject:Mount Amanzi Proxy Vote Dear Roy A Wxxxxxxxx, We need your help as the vacation clubs in South AFrica are trying to make a run for the board at Mount Amanzi Resort. Historically they have depleted the reserves and substancially raised the annual maintenance fees. Please help us keep the resort in the owners hands. Visit: http://www.mountamanzi.com/owners/proxy/proxy06.asp right now and give us your proxy vote. Thanks, Jeff Crouch President ICW, Inc. Board Member @ Mount Amanzi Resort. IP: Logged
DanM TUG Member Posts: 264 From: NY; Mittersill wk 52, Mt. Amanzi wk 1,Fox Run wk. 15 Registered: Dec 2000	posted 04-14-2005 17:46 I'd be very interested to hear from any South Africans familiar with this phenomenon. There was another post recently about some vacation club offering to buy a number of units at Mount Amanzi. My first instinct was to think "Great. That will take units out of the RCI pool and increase trade power." The financials and management report sent with the proxy material from the resort that I received in the mail today indicate solid fiscal control and a well funded renovation plan...within current resources. I can't think why any owner would want to change that, or why a vacation club would want to pay higher maintenance fees than necessary. It would increase their cost of operations too. Any insights from SA? IP: Logged
tonyg TUG Member Posts: 7014 From: East Canaan, CT -- Own at:Royal Mayan, Seapointer Registered: Dec 2000	posted 04-15-2005 21:26 Since ICW made a hostile takeover of the resort there has been a special assessment and a notable loss of trading power. Anything would be an improvement over the ICW boys who seem to have a serious problem of making up misleading stories about adversaries, special assessments,RCI awards and competitors. Throw ICW out and things will probably improve dramatically. ------------------ There is a very fine line between "hobby" and "mental illness." *** http://tonygraz0.tripod.com/ IP: Logged
ralphd TUG Member Posts: 420 From: Stone Mountain, GA Registered: Dec 2000	posted 04-18-2005 18:39 I do not know about a hostile takeover of the resort, but the financials show a nice reserve building for the years 2003 and 2004. Also see some capital spending. So it looks like they have staged a good 'come back'. IP: Logged
ralphd TUG Member Posts: 420 From: Stone Mountain, GA Registered: Dec 2000	posted 04-19-2005 06:08 To expand on the improvements: They have replaced 151 of 166 building roofs. They are Upgrading the roofing materials. They are renovating the interiors- 15 complete- doing as money allows. This includes new kitchens and baths, redo bedrooms with new beds and etc. The electrical wiring is being upgraded. Plus other improvements. And they are puting money in the bank. My first post ommitted a reserve in 2002, so they have performed very well for the past 3 years. [This message has been edited by ralphd (edited 04-19-2005).] IP: Logged
tonyg TUG Member Posts: 7014 From: East Canaan, CT -- Own at:Royal Mayan, Seapointer Registered: Dec 2000	posted 04-23-2005 21:37 The special assessment was purported to get the resort upgraded to RID- didn't happen. Remember that Enron was also from Texas. Learn from history. ------------------ There is a very fine line between "hobby" and "mental illness." *** http://tonygraz0.tripod.com/ IP: Logged
DianeV TUG Member Posts: 512 From: Redford, Michigan USA Registered: Dec 2000	posted 04-24-2005 12:05 Well in all fairness it doesnt happen overnight IP: Logged
ralphd TUG Member Posts: 420 From: Stone Mountain, GA Registered: Dec 2000	posted 04-27-2005 13:28 It was also stated in the report that the RCI points situation had improved (resort point system value) and the intention was to request another review by RCI when the improvements are complete. IP: Logged

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