Dear GullWing Unit Owners, 

Happy New Year!  I hope everyone had a wonderful holiday season.  We certainly enjoyed seeing many of our owners as they made recent trips to the property.  During this slightly slower season that we have been in, we have been working on some additional projects for the association and obtaining estimates for other improvements that are scheduled to be completed shortly.  2006 finished just as well as it started for GullWing unit owners with record setting distributions for October and November.  As we move into the New Year, I will also be working with the refurbishment committee on refurbishments for this year. 

As I mentioned in the last newsletter, the generator for the building was in need of a new radiator.  We contracted with an outside vendor to have the repair completed.  Everything went as expected with the repair and it was completed in November. 

In the beginning of December when the resort is typically slow, we contracted with window washers and had the windows washed on the entire building.  The resort was definitely over due for this, but we were holding off in the fall of the year because of the work being done at Pointe Estero. 

GullWing unit owners and guests will soon be able to enjoy new lounge chairs in the pool area.  Many of the current lounge chairs were starting to show signs of wear, so we were going to get them refinished.  However, while we were obtaining bids, we found out that we could replace them for only slightly more than what we would pay to have them refinished.  The new chairs are expected to be delivered the second week of January. 

We have also been obtaining bids for replacing the decking on both the Gazebo and Beach Boardwalk.  We are just about finished obtaining bids, and will move forward with the project prior to season if possible. 

The final item that we have been working on is the pool fence.  It also has started to show signs of wear so we have been obtaining estimates on having that painted as well.  Estimates are in, and we will be scheduling that shortly if possible. 

As I mentioned the resort operations continued to exceed last year with October and November leading the way with record setting distributions for those months.  Overall here are some of the increase we were able to accomplish in 2006. 

• Revenue up 13%

• Revenue per available unit up 14%

• Occupancy up 8% due to 1,531 more occupied room nights.

• Owner distributions for the first 11 months increased by 16%

December and January were looking a little slower in late November.  So the resort participated in an email promotion that drove almost $20,000 in additional revenue to the resort for December and January excluding the holiday week. 

Looking ahead, January continues to pace slightly behind last year.  We have seen a large increase in reservations booked recently, so we are optimistic that the month will still end well.  February is pacing ahead of last year and looks to be a very busy month for the resort.  Overall the busy season is booking up very nicely. 

As I mentioned I will soon be scheduling a meeting with the refurbishment committee to decide on projects for this year.  If you have any suggestions from an owner standpoint on something you would like to see in the units, I would be more than happy to discuss that with you and the refurbishment committee. 

As you can see the resort operations had an excellent year in 2006, and we are seeing good signs for 2007.  We are trying to get a head start on some of our projects for 2007 so everyone will be able to enjoy the improvements throughout season.  I would like to take this opportunity to thank all the GullWing unit owners for their participation in 2006.  I sincerely, hope each and everyone has enjoyed their holiday, and best wishes for the New Year. 

If I can be of any assistance please feel free to contact me by phone at (239) 765-4300, or by email at CurtB@Sunstream.com.

 Sincerely,

Curt Brenner
General Manager