PIBC February 10, 2009

The status of the club is currently Excellent!
The AGM (Tony) met with the owners on site yesterday prior to the Owners pool party. He reviewed the various trials and tribulations of the transition from Peter Kuegler, to Festiva to the current AGM-Board-Developer/Chairman (Chris Lightbourn).
Tony received compliments and a round of applause after relating that he felt the club would qualify for 'duty free status' by June of this year and this would save the club potentially millions of dollars over the years to come as major refurbishments were completed...this is very exciting for all the owners, as duty adds 40-60% to the cost of replacing items during maintenance or refurbishment!!!
The resort is currently in the kind of condition we have all hoped it would be on an ongoing basis. We, who have been coming here for many years, recognize the difficulty in maintaing a resort on an island in the ocean and specifically the Bahamas.
The kithchen/pool bar are managed and run by an independent company and offer personal cooking services for romantic evenings in your villa or pool side or???
The staff is even more friendly and helpful than during the Kuegler reign (my opinion, and I have always felt the staff were friendly and helpful, but now there is an even more open and family feeling, again!!!)
Some poilcies have changed (no bus to the City Market--and I am glad) some are modified (the towels for the beach are readily available and not signed for! No need to save a seat with a towel, there are ample chairs (at least one per villa on site ; and more in storage!) There is a daily cleaning, towel replacement--which used to cost $50 a week--I was against this, but see the value in maintaining the resort to the highest cleanliness standards. The "Energy Surcharge" has been reduced from $100 to $75!!!!
Rick Cartwright is in charge of resales!
In addition, the AGM is exploring the eventual recertification with RCI and II (first the Bahamas Timeshare offiice) with a realistic expectation of three to four stars growing to four, as we will not likely be able to modify the resorts' units for handicap access, for instance).
Tony reports that the first step in the transition was to sort out who the owners really were and verify the ownership. The database differred from VIP and Festiva from a low of 1600 units sold (possibly with an allowance for one owner with multiple weeks) to 2900 (Festiva's data base).
In summary: The resort is back on track after about ten or so very tough years!!
The finances are being controlled by the Board/Developer Chairman (a C.P.A.)! --In whom you should have the utmost confidence)
The Beach is still one of the finest beaches in the world!
Your PIBC experience is back to what you wanted, when you purchased!
The value of your purchase is stable to increasing!
Atlantis has added value to the whole Paradise Island experience!!

Life is better at Paradise Island Beach Club and this time of year, I bet it is likely better than where you are!!! (high 70's and sunny with a breeze, today)

Paradise Island Beach Club

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