Dear Spinnaker Owner,

2023 was an eventful year for us at Spinnaker Resorts as we celebrated our Ruby Anniversary. That’s right! 40 years of glorious operations! As the Anniversary year draws to a close, We look forward to serving you for the next 40 years, continuing the same high standard of service to our owners and guests.

It was 12 months ago that the passing away of our founder, Mr. Ken Taylor, left a huge gap in the hearts and minds of our team. The passion and commitment to the business demonstrated by the next generation of the Taylor family has inspired all Spinnaker team members to continue the mission of service as we go forward together.

On the business front, the two main challenges that we grapple with are inflationary pressures and staffing challenges. Nowhere else in the economy has inflationary pressures been felt the hardest than in the service sector. The team at Southwind Management continues to work tirelessly to deliver the most cost-effective solutions in the industry in serving our owners and guests.

Though you are seeing a higher percentage increase in the Association Fee than in the recent history, rest assured that the team at Southwind Management is doing their best to ensure that the fee increases that are being passed on to owners are only what is absolutely required and no more. We have periodically compared your fee increases to those of our competitors and are happy to report that your fee continues to be competitive and responsibly administered.

One key element of our fee increases this year is to ensure that a responsible amount of the fee is being set aside toward the various reserve funds that allows Spinnaker Resorts to maintain the quality of our properties that our owners have come to expect.

We look forward to continuing to provide smooth sailing vacations in the years to come.

Sincerely,

Ash Kumar
Chief Financial Officer
Spinnaker Resorts, Inc.