Jeffrey Mayers - Business Portfolio by Harry Pinkney

JEFFREY MAYERS Resort and Club Executive

BUSINESS PORTFOLIO

TABLE OF CONTENTS 3

Personal and Professional Overview

Membership Satisfaction

Membership Programming

Business Plan Example

Membership

Food & Beverage

Golf and Agronomy

Finanical Overview

Capital Projects & Plans

Accolades & Accomplishments

Workplace Culture

Board of Directors Interaction

Community Involvement

PERSONAL & PROFESSIONAL OVERVIEW Meet: Jeffrey Mayers As a seasoned hospitality leader, I have been provided the opportunity to lead a number of renowned resorts and clubs. While they were dynamic in their own way, their commonalities included, large memberships, integrated with resorts, high-end customer service and expansive capital projects. The cornerstone of a great organization is the culture that is created. As you read my portfolio, I will be providing you the depth of knowledge that I have gained during my career in all facets of the operation. I consider myself a competitive person in all facets in my life. I do not believe in complacency, but rather strive to improve outcomes every day. My style of management is hands on. I believe it is imperative to be engaged in the day to day activities to fully evaluate the performance and operational consistency.

On a personal note, I am a family man who has deep rooted values. My biggest achievement in life are my two sons. My oldest son is in his final year of Law School and my youngest son is planning on getting his Masters Degree. I am looking forward to spending the rest of my life with my wonderful fiancé. I am an avid sports fan, passionate for exercising and enjoy my time on the golf course. I believe that it is essential to contribute to the community and most importantly find that balance. As a leader, I consider my self as approachable, responsive and a person who has integrity. If you were to survey staff at previous resorts and clubs that I have managed, the one constant is my ability to get to know each employee as a person first. It is with building the relationships first has been instrumental to the work environment.

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Member Satisfaction

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MEMBER SATISFACTION Cornerstone to Success Delivering memorable experiences, creative programming and exemplary customer service are the cornerstone to a successful operation. During my tenure as an example at The Longboat Key Club, overall satisfaction improved seven successive years. As I understood the importance to deliver what the members wanted, I created an Advisory Board whereas every facet of the Club experience was represented by a member who had significant influence in that area. Through a collaborative process, this forum produced feedback, recommendations and a true partnership. Creating unique experiences led to improved attendance at membership events. The programming was generated by leadership and the event staff which provided a detailed list of annual events. To make this even more special, members event preferences were noted and as events were scheduled members would receive notification to ensure they were aware.

members to enjoy. Below is an overview of events developed, planned and successfully rolled out during my club tenure: ▷ Member Annual Golf Tournament ▷ Member/guest Golf Tournament ▷ Twilight golf ▷ Member Annual Tennis Tournament ▷ ATP Top 250 Tennis Tournament ▷ P GA Golf Tournaments (The Players Championship and The Honda Classic) ▷ Select Wine Dinners and pairings ▷ Whiskey Dinners and pairings ▷ Beach Bash ▷ Brews and Blues ▷ The Biggest Loser (Fitness)

Planning events is one facet of delivering unique membership experiences, however it is the communication that is essential. Historically I have worked with the Graphics team to generate club digital magazines. In addition, the continued development of technology i.e. membership apps to communicate upcoming events. Finally, having a membership survey sent out to the members after every event to get feedback has been instrumental.

▷ Book Clubs

The club within a club concept was rolled out. This provided a platform for members to meet other members who shared the same passion. Ultimately over thirty clubs were created offering yet another outreach for

▷ Super Bowl parties

▷ Bridge ▷ Holiday Brunches ▷ Marina Happy Hours ▷ B acchus on the Beach. A Celebration of Wine and Food. This event is a fund raiser for the University of South Florida School of Hospitality. ▷ Pickle Ball Tournaments

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MEMBERSHIP PROGRAMMING

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BUSINESS PLAN EXAMPLE Sawgrass Golf Resort & Spa I n the past 18 months, Group Room Nights (RN) has reduced from 76,000 RN per annum in 2007 to an estimated 60,000 RN in 2011. The projected RN in 2011 reflects 6,000 group room night cancellations during the year which is historically high. It is expected that the number of cancellations will be reduced with improvement in economic conditions. ▷ S GR redeployed the sales team due to changing market conditions, focusing on those segments that have been producing group business. This redeployment has resulted in a 30.4% increase in group pace for 2012. ▷ Th e SGR sales team has focused their efforts on the third party meeting planner market. Due to the economic downturn, this segment has grown significantly.

The Revenue Manager position is now a ‘trading’ position, with stock recalibrated/re-priced daily by channel. ▷ O Transient production for 2007 was 59,600 room nights compared to 68,100 in 2011. olf currently delivers 21,500 RN per annum. The tranG sient segment accounts for 13,000 RN while the group segment accounts for 8,500 RN. This is a core focus strategy with SGR engaging with the major golf wholesalers. ▷ Near term goal is 25,000 RN.

Cabana Beach Club Implemented successful strategy to raise rates at Cabana Beach Club in order to properly value this scarce amenity (there are only three beach clubs at Ponte Vedra) With the re-launch of the 619 Oceanview Restaurant cover counts have grown 202% from 2008 through 2011, increase from 6,000 to 12,100.

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Business Plan Example $ Productivity

Cost

Overall achieved a 31% increase in productivity from 2006 to 2011 YTD through resetting staff guidelines and targeted productivity requirements in all departments.

Reduction in fixed costs at SGR of 10%/$4.5m in 2009 on an annual basis

Examples: ▷ In the Rooms Department improved productivity from [15] credits per shift in 2006 to 18 credits per shift in 2010 by benchmarking all employees productivity against that of the most efficient performers. ▷ Laundry shifts reduced by increasing throughput per shift leading to reduced labor (5 days operation versus 7 days) and reducing energy consumption by reducing hours worked per day from 12 hours per day to the current 9 hours.

▷ Through staff reductions, productivity, vendor savings, and redesign of the benefits at SGR. ▷ Of this, Vendor savings were $1.3m on a base of $10.0mm in purchases. ▷ Reduced the Cost Per Occupied Room Reduced CPOR from $290.49 in 2008 to $240.19 in the 2011 forecast. (Excluding extraordinary sales expenses in 2011, the CPOR would be $234.19, a decrease of 19.4% from 2008) ▷ Productivity improvements ▷ Rebasing the staffing levels in all departments ▷ Vendor savings and ▷ Reductions in benefit costs ▷ Higher GSS scores We have significantly upgraded the service and quality at SGR through leadership changes and extensive external training which allows the business to enforce accountability at all levels. This is showing through in higher overall GSS scores. GSS results increased from 80.6% in 2006 to 82.2% in 2010.

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CABANA CLUB MEMBERSHIP OVERVIEW ($ mm) 2006

2011

Proforma Year

Number of Memberships* (Including Comps)

1,207

735

835

Annual Family Membership Fee** (per member)

$995

$2,495

Average Rate per Paid Membership

$989

$2,204

Membership Revenue ($mm)

$1.1

$1.5

$1.7

New Member Initiation ($mm)

$0.4

$0.1

$0.7

Total Membership Revenue

$1.5

$1.6

$2.4

Notes: * Includes 63 TPC memberships which pay no annual dues. | ** This is the annual rate for the family membership.

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Membership

SAWGRASS GOLF RESORT & SPA FTE (Full Time Equivalent) ANALYSIS September Year to Date SUMMARY 2006 YTD

2008 YTD

2009 YTD

2010 YTD

2011 YTD

Occupied Rooms

94,515

104,528

96,828

96,320

96,286

Available Rooms

138,684

139,192

138,684

Occupancy %

68.2%

75.1%

69.8%

69.5%

69.4%

Hours per FTE

1,560

1,568

1,555

1,568

1,552

502

509

389

391

399

782,888

798,809

605,358

613,497

619,732

8.28

7.64

6.25

6.37

6.44

$1,005,279

$2,950,336

$2,765,124

$2,667,372

FTE (Full Time Equivalent*) Employees Total Resort Hours YTD Hours per Occ Room YTD Payroll Savings v. 2006

Note: A n FTE, or Full Time Equivalent, is the ratio of the total number of hours worked during a period (part time or full time) by the number of working hours in that period. One FTE is equivalent to one employee working full-time.

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FOOD & BEVERAGE

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Understanding the impact the Food & Beverage operation has on membership satisfaction, my approach is to be heavily involved. From concept development, menu content to tastings and training , it is imperative the operation exudes consistency at every level. Most recently at PGA National Resort and Spa, two celebrity chefs were hired to bring notoriety and deliver experiences. Throughput the process, I was involved in the budgeting and purchasing of the china, glass, silver and linen along with operational supplies. I have engaged small groups of membership in the menu tastings to get their feedback and thoughts as I believe this approach is meaningful and has led to success.

Overview Sawgrass Marriott Golf Resort & Spa ▷ Oversight of 10 restaurants including a high-end recognized steak house. ▷ W ith venues up to 56,000 square feet of banquet room space, large events were hosted. Holiday event attendance was a high as 1,400 people. The ability to create specialty menus for member events led to positive experiences and delivering expectations.

The Resort at Longboat Key Club ▷ Oversight of 6 restaurants each with their own distinctive flair.

PGA National Resort & Spa ▷ T he resort provided 8 restaurants for members and guests. Offerings ranged from a spa menu to a upscale steak house. In addition, the members have their own restaurant. ▷ D uring the renovation worked with two celebrity chefs in preparation of the new restaurant openings. This included writing budgets, reviewing China, glass, silver and linen purchases. ▷ P rior experience in the resort field included two years of hands on food and beverage management. ▷ W ith 40,000 square feet of flexible meeting room space, banquet and catering business delivered optimal results. My knowledge is extensive particularly when it comes to oversight of multiple restaurants. Clubs and resorts I have managed have offered between six and ten restaurants ranging from poolside bars to upscale steakhouses. Training is the cornerstone to a successful operation. I am a firm believer in Standard Operating Procedures and using them as a training tool. This enhances the consistency in food quality and service.

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GOLF AND AGRONOMY General Manager Sawgrass Marriott Resort and Spa Home of The Players Championship 2008-2012

General Manager PGA National Resort and Spa Home of The Honda Classic 2020 & 2021

Golf Course

Renovations The Resort at Longboat Key Club ▷ Tee to green 45 holes

PGA National ▷ T he renovation of The Squire Course to a nine-hole par 3 and match play course

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FINANCIAL OVERVIEW The Process My experience writing budgets includes complex resorts and clubs generating revenues ranging from sixty-million to eighty-million dollars. My success in drafting budgets is the approach that I have taken which is to include the leadership teams input. Business trends, past performance and strategic plans all play a role. My financial success is built upon the knowledge of driving revenues first and subsequently expense management. The ability to manage the expenses based on delivering accurate forecasts has been instrumental to obtaining the bottom line. The weekly fore-

casts provide the opportunity to take a proactive approach and minimize financial exposure . Examples of my financial abilities include adjusting expenses, wages and renegotiating vendor agreements based on the economic turbulence that impacted the business during the recession. I was able to streamline operational expenses by eighteen percent. At another resort and club, I was able to increase revenues by thirty four percent over several years and subsequently deliver optimal profit.

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THE BUDGET Rooms Available Rooms Sold Occupancy ADR Revpar TOTAL Revpar

ED. INC. STATEM

YEAR - January through December Jan 2020

Feb 2020

Mar 2020

Apr 2020

May 2020

June 2020

July 2020

Aug 2020

AMT

10,509

9,831

10,509

10,170

10,509

10,170

10,509

7,617

7,901

8,961

7,924

7,123

6,402

5,843

6,768

72.5

80.4

85.3

77.9

67.8

62.9

55.6

64.4

299.94

350.22

337.49

236.12

188.39

142.90

127.36

123.59

217.39

281.46

287.78

183.98

127.69

89.96

70.81

79.60

586.96

748.52

712.35

449.84

413.08

308.63

232.07

271.78

3,209,891

3,885,642

4,086,987

2,069,383

1,453,136

1,006,346

830,444

900,302

2,281,489

2,740,109

2,590,675

1,939,915

2,284,516

1,624,856

1,078,754

1,325,793

Operating Revenue Rooms Food & Beverage Other Operated Departments Miscellaneous Income TOTAL Operating Revenue

427,611

448,447

509,209

424,869

450,559

385,451

358,008

437,632

249,380

284,550

299,232

140,674

152,857

122,161

171,601

192,390

6,168,371

7,358,748

7,486,103

4,574,841

4,341,069

3,138,814

2,438,807

2,856,116

2,023,996

2,573,049

2,795,265

1,507,543

1,022,169

616,697

459,270

520,443

964,150

1,278,159

1,231,020

808,011

1,002,246

580,078

224,239

356,662

175,544

215,897

253,255

185,821

218,024

179,346

139,979

198,608

249,380

284,550

299,232

140,674

152,857

122,161

171,601

192,390

3,413,070

4,351,654

4,578,773

2,642,050

2,395,297

1,498,282

995,090

1,268,104

380,819

389,646

376,111

306,753

300,719

274,176

268,214

262,020

86,926

92,219

95,941

101,549

95,849

96,435

95,429

92,324

Sales and Marketing

284,905

354,408

392,450

304,654

320,377

301,537

316,779

276,607

Property Operation and Maintenance

263,534

161,505

176,139

208,371

190,549

178,585

243,864

192,253

79,992

79,976

91,045

84,360

99,246

75,257

96,463

122,683

1,096,177

1,077,755

1,131,685

1,005,687

1,006,741

925,989

1,020,749

945,887

2,316,893

3,273,899

3,447,088

1,636,362

1,388,556

572,293

-25,660

322,217

59,529

75,670

76,944

47,831

45,494

33,471

26,471

30,644

2,257,364

3,198,229

3,370,144

1,588,531

1,343,062

538,822

-52,131

291,573

3,070

1,070

Property and Other Taxes

185,921

154,936

Insurance

109,286

136,001

18,250

298,276

310,257

1,959,087

2,887,972

3,059,887

1,278,274

1,032,805

228,565

-362,388

-18,684

Departmental Profit Rooms Food & Beverage Other Operated Departments Miscellaneous Income TOTAL Departmental Profit

Undistributed Operating Expenses Administrative and General Information and Telecommunication Systems

Utilities TOTAL Undistributed Expenses

Gross Operating Profit Management Fees Income Before: Non-Operating Income and Expenses

Non-Operating Income and Expenses Income Rent

Fixed Other TOTAL Non-Operating Income and Expenses Earnings Before: Interest, Taxes, Depreciation and Amortization

Interest, Depreciation and Amortization Interest Expense TOTAL Interest, Taxes, Depreciation & Amortization Income Before Income Taxes

Net Income (Loss) Replacement Reserves Net Income (Loss) Less Replacement Reserve

PAGE 20

1,959,087

2,887,972

3,059,887

1,278,274

1,032,805

228,565

-362,388

18,684

1,959,087

2,887,972

3,059,887

1,278,274

1,032,805

228,565

-362,388

18,684

1,959,087

2,887,972

3,059,887

1,278,274

1,032,805

228,565

-362,388

18,684

MENT

PROFIT

1 1 TH E D I T I O N I N C O M E S T A T E M E N T

2020 - Budget

Compare

Sept 2020

Oct 2020

Nov 2020

Dec 2020

AMT

TOTAL

Primary Forecast

10,170

10,509

10,170

10,509

124,074

0.0

123,735

339

0.0

4,996

6,713

7,589

7,579

85,416

53,445

31,971

- 5.6

86,783

- 1.367

- 1.6

% REV

AMT

% REV

Variance AMT

Actual 2 Years Ago

% REV

AMT

Variance

% REV

AMT

% REV

49.1

63.9

74.6

72.1

68.8

43.1

25.8

- 5.6

70.1

- 1.3

- 1.6

132.65

188.79

186.94

230.19

221.01

196.95

24.06

- 5.6

206.81

14.20

- 1.6

65.16

120.60

139.50

166.01

152.15

84.84

67.31

- 5.6

145.05

7.10

- 1.6

207.74

369.99

467.90

441.29

433.29

208.29

225.00

0.0

394.75

38.54

0.0

731,097

1,339,452

1,543,817

2,050,860

23,107,358

43.0

14,722,969

57.0

8,384,389

- 14.0

21,541,567

44.1

1,565,791

- 1.1

882,337

2,023,891

2,651,050

1,975,101

23,398,485

43.5

8,252,202

31.9

15,146,283

11.6

20,065,345

41.1

3,333,141

2.4

370,215

361,004

397,043

440,012

5,010,060

9.3

1,615,831

6.3

3,394,229

3.1

5,061,352

10.4

- 51.293

- 1.0

129,056

163,874

166,678

171,534

2,243,987

4.2

1,252,001

4.8

991,986

- 0.7

2,176,231

4.5

67,756

- 0.3

2,112,706

3,888,221

4,758,588

4,637,507

53,759,891

100.0

25,843,003

100.0

27,916,888

0.0

48,844,496

100.0

4,915,395

0.0

385,143

918,879

1,082,695

1,470,580

15,375,728

28.6

9,215,773

35.7

6,159,955

- 7.1

14,293,001

29.3

1,082,728

- 0.7

114,462

862,097

1,251,669

812,070

9,484,863

17.6

2,831,020

11.0

6,653,844

6.7

8,952,245

18.3

532,619

- 0.7

164,760

151,450

171,026

195,063

2,248,774

4.2

477,390

1.8

1,771,384

2.3

2,388,268

4.9

- 139.494

- 0.7

129,056

163,874

166,678

171,534

2,243,987

4.2

1,252,001

4.8

991,986

- 0.7

2,176,231

4.5

67,756

- 0.3

793,421

2,096,299

2,672,068

2,649,247

29,353,353

54.6

13,776,184

53.3

15,577,169

1.3

27,809,745

56.9

1,543,608

- 2.3

260,835

304,911

321,703

395,520

3,841,427

7.1

2,527,610

9.8

1,313,817

- 2.6

4,612,907

9.4

- 771,481

- 2.3

94,794

90,963

98,795

98,436

1,139,660

2.1

924,752

3.6

214,907

- 1.5

906,283

1.9

233,377

0.3

315,848

300,694

340,671

309,364

3,818,294

7.1

1,705,325

6.6

2,112,969

0.5

3,821,171

7.8

- 2,877

- 0.7

184,720

209,477

173,752

176,210

2,358,959

4.4

1,455,660

5.6

903,299

- 1.2

2,376,429

4.9

- 17,470

- 0.5

71,189

81,960

78,940

87,703

1,048,815

2.0

746,509

2.9

302,306

- 0.9

1,028,012

2.1

20,803

- 0.2

927,386

988,006

1,013,861

1,067,231

12,207,154

22.7

7,359,856

28.5

4,847,298

- 5.8

12,744,802

26.1

- 537,648

- 3.4

-133,965

1,108,293

1,658,207

1,582,016

17,146,199

31.9

6,416,328

24.8

10,729,872

7.1

15,064,943

30.8

2,081,256

1.1

23,210

40,965

49,669

48,462

558,361

1.0

384,085

1.5

174,277

- 0.4

766,017

1.6

- 207,656

- 0.5

-157,175

1,067,328

1,608,538

1,533,554

16,587,838

30.9

6,032,243

23.3

10,555,595

7.5

14,298,926

29.3

2,288,912

1.6

0.0

2,036

0.0

- 2,036

- 0.0

13,311

0.0

- 13,311

- 0.0

1,070

14,840

0.0

48,506

0.2

- 33,667

- 0.2

7,594

0.0

7,246

0.0

154,936

1,890,217

3.5

2,332,758

9.0

- 442,541

- 5.5

1,593,164

3.3

297,052

0.3

136,001

1,605,297

3.0

1,854,527

7.2

- 249,230

- 4.2

878,771

1.8

726,526

1.2

18,250

200,750

0.4

16,794

0.1

183,956

0.3

1,570,597

3.2

- 1,369,847

- 2.8

310,257

3,711,103

6.9

4,250,550

16.4

- 539,447

- 9.5

4,036,815

8.3

- 325,712

- 1.4

-467,432

757,071

1,298,281

1,223,297

12,876,735

24.0

1,781,693

6.9

11,095,042

17.1

10,262,111

21.0

2,614,624

2.9

0.0

1,922,139

3.9

- 1,922,139

- 3.9

0.0

1,922,139

3.9

- 1,922,139

- 3.9

-467,432

757,071

1,298,281

1,223,297

12,876,735

24.0

1,781,693

6.9

11,095,042

17.1

8,339,972

17.1

4,536,763

6.9

-467,432

757,071

1,298,281

1,223,297

12,876,735

24.0

1,781,693

6.9

11,095,042

17.1

8,339,972

17.1

4,536,763

6.9

0.0

646,075

2.5

- 646,075

- 2.5

0.0

-467,432

757,071

1,298,281

1,223,297

12,876,735

24.0

1,135,618

4.4

11,741,117

19.6

8,339,972

17.1

4,536,763

6.9

PAGE 21

THE BUDGET

ED. INC. STATEM

YEAR - January through December Jan 2020

Feb 2020

Mar 2020

Apr 2020

May 2020

June 2020

July 2020

Aug 2020

AMT

Operating Revenue Food & Beverage

Other Operated Departments

3,038,927

3,744,982

3,694,986

2,814,378

2,412,974

1,826,582

1,753,671

1,684,214

TOTAL Operating Revenue

3,038,927

3,744,982

3,694,986

2,814,378

2,412,974

1,826,582

1,753,671

1,684,214

- 20,976

- 20,325

- 19,225

- 17,425

- 15,600

- 13,075

- 13,550

- 13,075

Other Operated Departments

1,817,184

2,236,226

2,312,845

1,837,725

1,529,833

1,011,936

1,019,853

951,809

TOTAL Departmental Profit

1,796,208

2,215,900

2,293,620

1,820,300

1,514,233

998,861

1,006,303

938,734

125,064

145,904

158,110

125,501

116,782

95,638

87,854

83,947

2,713

2,575

Sales and Marketing

61,677

194,581

86,658

74,409

71,958

70,810

72,705

72,313

Property Operation and Maintenance

39,887

43,750

40,750

42,750

45,750

45,000

44,000

43,000

Utilities

32,794

36,200

39,200

41,400

38,650

42,650

42,900

43,650

262,134

423,010

327,293

286,635

275,715

256,673

250,034

245,485

1,534,074

1,792,890

1,966,326

1,533,665

1,238,518

742,188

756,270

693,249

60,685

74,400

56,288

48,259

36,532

35,074

33,685

1,473,389

1,718,490

1,891,926

1,477,377

1,190,259

705,656

721,195

659,564

Rent

31,231

45,430

44,775

31,500

Property and Other Taxes

62,123

62,125

Insurance

55,000

58,000

148,355

162,555

161,900

151,625

1,325,035

1,555,935

1,730,026

1,315,477

1,038,634

554,031

569,570

507,939

Interest Expense

2,901

2,812

2,723

2,634

2,545

2,455

2,365

2,275

TOTAL Interest, Taxes, Depreciation & Amortization

2,901

2,812

2,723

2,634

2,545

2,455

2,365

2,275

1,322,134

1,553,123

1,727,303

1,312,843

1,036,089

551,576

567,205

505,664

1,322,134

1,553,123

1,727,303

1,312,843

1,036,089

551,576

567,205

505,664

93,625

92,375

70,359

60,324

45,665

43,842

42,105

1,322,134

1,459,498

1,634,928

1,242,484

975,765

505,911

523,363

463,559

Departmental Profit Food & Beverage

Undistributed Operating Expenses Administrative and General Information and Telecommunication Systems

TOTAL Undistributed Expenses

Gross Operating Profit Management Fees Income Before: Non-Operating Income and Expenses

Non-Operating Income and Expenses Income

Fixed Other TOTAL Non-Operating Income and Expenses Earnings Before: Interest, Taxes, Depreciation and Amortization

Interest, Depreciation and Amortization

Income Before Income Taxes

Net Income (Loss) Replacement Reserves Net Income (Loss) Less Replacement Reserve

PAGE 22

ENT

PROFIT

1 1 TH E D I T I O N I N C O M E S T A T E M E N T

2020 - Budget

Compare

Sept 2020

Oct 2020

Nov 2020

Dec 2020

AMT

TOTAL AMT

Primary Forecast % REV

AMT

Variance

% REV

AMT

Actual 2 Years Ago

% REV

AMT

% REV

Variance AMT

% REV

0.0

1,264,117

4.3

- 1,264,117

- 4.3

1,815,171

2,507,297

2,536,733

2,330,283

30,160,198

100.0

24,152,392

100.0

6,007,807

0.0

28,124,252

95.7

2,035,946

4.3

1,815,171

2,507,297

2,536,733

2,330,283

30,160,198

100.0

24,152,392

100.0

6,007,807

0.0

29,388,370

100.0

771,829

0.0

- 15,040

- 16,675

- 18,215

- 23,715

- 206,896

- 0.7

- 47,569

- 0.2

- 159,327

- 0.5

- 427,660

- 1.5

220,764

0.8

989,693

1,566,987

1,549,957

1,410,497

18,234,544

60.5

15,417,568

63.8

2,816,976

- 3.4

16,016,790

54.5

2,217,754

6.0

974,652

1,550,312

1,531,742

1,386,782

18,027,648

59.8

15,369,999

63.6

2,657,649

- 3.9

15,589,130

53.0

2,438,518

6.7

92,942

106,141

121,208

197,778

1,456,869

4.8

909,930

3.8

546,939

1.1

1,044,224

3.6

412,645

1.3

2,575

31,038

0.1

37,477

0.2

- 6,440

- 0.1

38,162

0.1

- 7,124

- 0.0

74,440

77,750

77,190

94,472

1,028,962

3.4

616,012

2.6

412,950

0.9

982,168

3.3

46,794

0.1

43,000

42,500

40,500

511,387

1.7

417,369

1.7

94,017

- 0.0

524,424

1.8

- 13,037

- 0.1

40,200

37,400

472,644

1.6

387,088

1.6

85,556

- 0.0

455,406

1.5

17,237

0.0

253,157

269,166

278,873

372,725

3,500,900

11.6

2,367,877

9.8

1,133,022

1.8

3,044,385

10.4

456,515

1.2

721,495

1,281,146

1,252,870

1,014,057

14,526,748

48.2

13,002,122

53.8

1,524,626

- 5.7

12,544,745

42.7

1,982,003

5.5

36,303

50,146

50,735

197,407

753,914

2.5

604,350

2.5

149,564

- 0.0

768,352

2.6

- 14,438

- 0.1

685,192

1,231,000

1,202,135

816,650

13,772,834

45.7

12,397,771

51.3

1,375,062

- 5.7

11,776,393

40.1

1,996,441

5.6

0.0

816

0.0

- 816

- 0.0

1,647

0.0

- 1,647

- 0.0

31,500

40,500

436,211

1.4

432,538

1.8

3,674

- 0.3

421,391

1.4

14,821

0.0

62,125

745,498

2.5

754,121

3.1

- 8,622

- 0.7

661,562

2.3

83,936

0.2

58,000

684,000

2.3

945,100

3.9

- 261,100

- 1.6

844,415

2.9

- 160,415

- 0.6

0.0

85,047

0.3

- 85,047

- 0.3

151,625

160,625

1,865,710

6.2

2,130,942

8.8

- 265,232

1.8

2,010,768

6.8

- 145,059

- 0.7

533,567

1,079,375

1,041,510

656,025

11,907,124

39.5

10,266,829

42.5

1,640,295

- 3.0

9,765,624

33.2

2,141,500

6.3

2,184

2,093

2,002

1,911

28,900

0.1

27,131

0.1

1,769

- 0.0

1,921,008

6.5

- 1,892,109

- 6.4

2,184

2,093

2,002

1,911

28,900

0.1

27,131

0.1

1,769

- 0.0

1,921,008

6.5

- 1,892,109

- 6.4

531,383

1,077,282

1,039,508

654,114

11,878,224

39.4

10,239,699

42.4

1,638,526

- 3.0

7,844,616

26.7

4,033,608

12.7

531,383

1,077,282

1,039,508

654,114

11,878,224

39.4

10,239,699

42.4

1,638,526

- 3.0

7,844,616

26.7

4,033,608

12.7

45,379

62,682

63,418

58,257

678,031

2.2

565,216

2.3

112,815

- 0.1

0.0

678,031

2.2

486,004

1,014,600

976,090

595,857

11,200,193

37.1

9,674,483

40.1

1,525,710

- 2.9

7,844,616

26.7

3,355,577

10.4

PAGE 23

CAPITAL PROJECTS & PLANS

PAGE 24

Over the course of my career, I have been involved in numerous capital projects for both resorts and residential clubs including: ▷ Dining venues ▷ S tate of the art fitness centers ▷ Luxury spas and salons

▷ ▷ ▷ ▷

Clubhouses Guest rooms and suites Golf courses Tennis courts

▷ ▷ ▷ ▷

Pro shops Pools Gardens and landscaping Lobbies, event spaces,

and public areas ▷ Safety and security ▷ Exteriors, structural, and infrastructure

In general, the scope of these renovations has been broad. In particular, every facet of planning and implementing the following projects - both new and restorative - were under my purview.

PGA National Resort and Spa A sweeping $100 million facility renovation ▷ Total renovation of the resort’s 339 guest rooms; ▷ Full upgrade of the 40,000 square foot spa;

new concepts including the addition of two celebrity chefs;

▷ Transformation of the Squire Course to a nine-hole par 3 course and the addition of a match play course;

▷ Th orough overhaul of the golf shop; and

▷ Reconstruction and upgrading all four dining outlets, taking each down to the studs and implementing

▷ Redeveloped the Membership Office.

▷ R ebuilding the Membership Office.

The Resort at Longboat Key Club An ongoing process encompassing approximately $45 million in capital improvements ▷ Widespread reconditioning and renewal of the 45hole championship golf courses - from tee to green – including conversion of 15 acres to paspalum grass at both Harbourside and Islandside courses as well as renovations to all locker rooms, restrooms, the purchase of nearly 200 golf carts and the addition of seven miles of new cart paths; ▷ Remodeling the resort’s 226 guest rooms; ▷ Expansive $1.8 million beachfront renovation; ▷ Modernization of the 9,000 square foot spa and its eleven treatment rooms;

▷ R econditioning Har-Tru clay courts with underground watering system to ensure optimal conditions; ▷ E xpanded number of slips in the Moorings Marina rental pool from ___ to 291 as well as revising membership structure, facility, and staffing concepts; ▷ C omprehensive reconstruction of Lobby restaurant; and ▷ E xtensive upgrades to the pool deck.

The Renaissance Hotels of Mobile A $60 million renovation at the Renaissance Riverview Plaza Hotel complex, critical to the resurrection of the city’s redevelopment ▷ Full-scale restoration of The Battle House including restaurants, spa and meeting room space; ▷ Renewed all operating supplies and equipment;

▷ Redesigned all branded staff attire and uniforms; and ▷ Conceived and created new dining concepts with Executive Chef.

▷ Themed all concerned properties to be in line with Renaissance Hotels guidelines ;

PAGE 25

PAGE 26

Accolades & Accomplishments

In addition to the oversight of these above mentioned renovations, I have been heavily involved in creating five year capital plans. The ability to write meaningful plans and work with the owners and club boards have been instrumental in continued improvement in the amenities offered and maintaining the club/resort in a manner that is expected. The collaborative approach which includes leadership and Club Boards have proven successful. ▷ I nterstate Hotels Spirit to Lead Award amongst all General Managers 2009 ▷ R enaissance Battle House Hotel opening of the year within the Renaissance Brand 2008 ▷ T he Resort at Longboat Key Club thirtyeight years AAA Four-Diamond award winner ▷ P GA National Resort and Spa thirty-eight years consecutively recognized as AAA FourDiamond award winner ▷ T he Resort at Longboat Key Club received the Conde Naste Recognition of a Top Twenty Resort In Florida during my tenure ▷ C hairman’s Award for the Longboat Key Chamber of Commerce ▷ T ennis Resorts Online Top 10 Tennis Resort – Longboat Key Club during my tenure

PAGE 27

WORKPLACE CULTURE

PAGE 28

Work Environment Creating a work environment whereas the staff feels appreciated, respected and recognized for their performance is the cornerstone of the club’s success. As the leader, I have learned that the staff is a microcosm of the behavior that I exude. My focus with the leadership team is to create the positive energy that transcends itself between staff and members. I have accomplished this through the following: ▷ T raining and the development of staff ▷ A nnual reviews outlining success and/or opportunities ▷ I mplementation of plans and actions based on the annual employee opinion survey ▷ M onthly staff recognition events ▷ P romoting within when possible as this enhances morale ▷ C reating an open-door policy ▷ O n-boarding of new staff through the orientation process ▷ H iring the right staff for the right job to get the right results

PAGE 29

BOARD OF DIRECTORS INTERACTION

PAGE 30

My Approach A collaborative approach is essential to any club. My experience working with the Board of Directors is to be actively engaged, transparent and provide insight from my perspective. Being open to feedback, responsive and open minded is the recipe for a healthy relationship. Over the course of my career, I have engaged Board Members to assist with projects such as the vision for the future, communicating with members to take the annual membership survey and providing candid feedback regarding the various amenities the club has to offer. The outcomes were positive and desired results were achieved. Understanding The Board represents the membership, I have found open dialogue and communication are great tools that provide members confidence in the club direction. Below is an overview of my approach: ▷ D evelopment of annual goals along with strategies to achieve ▷ M embership SWOT analysis to determine strategic planning ▷ C apital planning discussions ▷ M embership rules and regulations overview ▷ V ision for the future

PAGE 31

COMMUNITY INVOLVEMENT Featured Articles and News Stories online and in print.

Online

PAGE 32

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“

Coming together is the beginning, Keeping together is progress, Working together is success.

JEFFREY MAYERS Resort and Club Executive

Jeffrey

Jeffrey Mayers - Business Portfolio

Articles inside

Membership Satisfaction

Accolades & Accomplishments

Capital Projects & Plans

Food & Beverage