In April 2022 there were 1514 lodges for sale.
In June 2024 there were 1680 club owned lodges for sale and 2650 weeks owned by owners with a total of 4335 weeks at Club
On 15 October 2024 there are now 2257 lodges for sale but no breakdown.
That is 743 MORE lodges for sale in last 30 months at time WHEN we have been continually told that we have a fantastic sales strategy.
Who is fooling who?
It was pointed out to the GM that the target he had set himself of 100 NEW sales, and not swaps or exchanges would be insufficient to succeed as this was akin to running backwards in the current climate, but to an extent this observation was almost deprived of considering which has started to come home to roost.
As owners we wasted monies on recruitment companies and salaries on previous incumbent and now we could seriously affect the hopes of another.
Is this his fault?
I think not as normally when someone is starting a new position there is a trainer, but what happens when the trainer needs trained?
This is the equivalent of 297 lodges every year since April 22.
If we are truly selling lodges please please enlighten us owners, because whatever we are doing, no matter what we are told in newsletters appears to be a work of fiction.
I have always had my concerns or even doubts, but I truly believe there is a lack of urgency in this extremely important function and this neglect is unforgiveable.
Sometimes those square pegs cannot be fitted into round holes!
It cannot continue at this rate if the club is to prosper unless there is some twisted and/or some lucrative scheme in place.
Can us owners be told NOW, not at AGM?
DO WE HAVE A SALES PLAN?
I can't say I am truly shocked at this state of affairs, there seemed to be an avoidance from both the GM and the Committee to answer owners' simple questions over the past two years ie "Is the Sales Strategy Working? And "How many weeks have been sold?"
,
We have been passed off with disingenuous answers, a bit like offering a sugar lump to pacify a Horse!
The Club had a great opportunity to off-load a massive amount of relinquished weeks now held by the Club within the Apartment Block. If OWNERS at LRHC had been given the opportunity to vote on this and it had been agreed we could have at least find out more about the offer to purchase the Apt block by Nick Patty, Hotel owner, and the amount offered, which would have moved our Refurbishment Programme forward and removed this costly lead weight of Apt weeks hanging around all our necks thats pulling down our Club. However owners undemocratically were never told of the offer until the subject was raised by an Owner at the AGM!
It would appear some at the Club seem to be confused as to what the concept of aTimeshare Club actually is, and would prefer it be used as a quick turn around Self Catering Apt/Hotel similar to the Dunalistair, which has been less than successful and is now closing its doors!
We seem to have slipped back into old bad habits of the GM and Committee perhaps forgetting that OWNERS be kept in the loop and consulted on major decisions like this disastrous and FAILED Sales Strategy and of course the Offer to buy the Apt block.
Ronnie
,We have been passed off with disingenuous answers, a bit like offering a sugar lump to pacify a Horse!
The Club had a great opportunity to off-load a massive amount of relinquished weeks now held by the Club within the Apartment Block. If OWNERS at LRHC had been given the opportunity to vote on this and it had been agreed we could have at least find out more about the offer to purchase the Apt block by Nick Patty, Hotel owner, and the amount offered, which would have moved our Refurbishment Programme forward and removed this costly lead weight of Apt weeks hanging around all our necks thats pulling down our Club. However owners undemocratically were never told of the offer until the subject was raised by an Owner at the AGM!
It would appear some at the Club seem to be confused as to what the concept of aTimeshare Club actually is, and would prefer it be used as a quick turn around Self Catering Apt/Hotel similar to the Dunalistair, which has been less than successful and is now closing its doors!
We seem to have slipped back into old bad habits of the GM and Committee perhaps forgetting that OWNERS be kept in the loop and consulted on major decisions like this disastrous and FAILED Sales Strategy and of course the Offer to buy the Apt block.
Ronnie
I would hazard a guess some, and in particular, the rental landlord is rueing the day that they did not disclose the full information to all owners.
The "third party loan" from those who will not be named until the AGM was shunted aside, and rightly so, by our departed accountant.
This folly has created major issues which will not go away as the rental enterprise scheme has not panned out in the way imagined, sales have been uneventful and the £60 levy imposed will not cover the cost of refurbishments now we are completing externally with which I agree.
Houston, as they say, we have a problem, and no doubt our new accountants- ex auditor will be brushing up on creative capital accounting to hide the deficit.
If I am correct in my assumption then I would expect a few or maybe one to reconsider their chosen career path.
The "third party loan" from those who will not be named until the AGM was shunted aside, and rightly so, by our departed accountant.
This folly has created major issues which will not go away as the rental enterprise scheme has not panned out in the way imagined, sales have been uneventful and the £60 levy imposed will not cover the cost of refurbishments now we are completing externally with which I agree.
Houston, as they say, we have a problem, and no doubt our new accountants- ex auditor will be brushing up on creative capital accounting to hide the deficit.
If I am correct in my assumption then I would expect a few or maybe one to reconsider their chosen career path.
I can quite understand you are reluctant to name actual names, however as the Club is like a leaky boat and any info being kept from owners, no matter how creatively hidden within Accounts, will sooner rather than later leach out and owners will be very angry indeed that the GM and particularly the Committee have treated them like fools!
Absolutely not one single penny more should be handed over to the Club by owners until the Committee come clean about this whole fiasco from beginning to end after all it's Owners hard earned money they are dishing out hand over fist, not Monopoly Money!
Ronnie
Absolutely not one single penny more should be handed over to the Club by owners until the Committee come clean about this whole fiasco from beginning to end after all it's Owners hard earned money they are dishing out hand over fist, not Monopoly Money!
Ronnie
The prediction made in October unfortunately became a reality albeit some excuses made for the loss.
The biggest drain on the Club remains not just an ever increasing wage bill or increasing capitalisation as just a few, but a failure to sell lodges.
Less than a 100 in 2 years which under normal circumstances would be seen as failure.
All the promises of a 100 a year sadly not achieved.
We paid a sales adviser £30k plus and he was pushed out and now we have another no doubt on a similar salary, but in reality, is it their fault and not the responsibility of the GM.
In my opinion it is the responsibility of the GM and he is the one who should be held accountable.
What the number of sales similar to the rentals does not tell is the net number or profit.
No doubt Walter Mitty will make an appearance at AGM.
The biggest drain on the Club remains not just an ever increasing wage bill or increasing capitalisation as just a few, but a failure to sell lodges.
Less than a 100 in 2 years which under normal circumstances would be seen as failure.
All the promises of a 100 a year sadly not achieved.
We paid a sales adviser £30k plus and he was pushed out and now we have another no doubt on a similar salary, but in reality, is it their fault and not the responsibility of the GM.
In my opinion it is the responsibility of the GM and he is the one who should be held accountable.
What the number of sales similar to the rentals does not tell is the net number or profit.
No doubt Walter Mitty will make an appearance at AGM.
Lets not be surprised if there’s a pie chart / graph presentation designed to make a poor result look good.
Perhaps a bit of accompanying motivational speech play and everyone will be very happy for another year.
All the bad stuff conveniently glossed over and another self congratulation PR exercise fully accomplished.
Sound familiar?
Perhaps a bit of accompanying motivational speech play and everyone will be very happy for another year.
All the bad stuff conveniently glossed over and another self congratulation PR exercise fully accomplished.
Sound familiar?
Hi Stuart
Sorry I went missing, but hey again I was somehow locked out of this Forum and the 'Unofficial' Forum it's taken me weeks to get back in eventually to this Forum, however still locked out of other Forum!
Nothing much changes as we approach yet another AGM, the dots just don't meet up!
I think once again you and Thom are correct, most owners DON'T UNDERSTAND the Accounts and find the Pie Charts easier to understand albeit can be very misleading.
AGM will be interesting.
Ronnie
Sorry I went missing, but hey again I was somehow locked out of this Forum and the 'Unofficial' Forum it's taken me weeks to get back in eventually to this Forum, however still locked out of other Forum!
Nothing much changes as we approach yet another AGM, the dots just don't meet up!
I think once again you and Thom are correct, most owners DON'T UNDERSTAND the Accounts and find the Pie Charts easier to understand albeit can be very misleading.
AGM will be interesting.
Ronnie
The problem is, I think some of the committee don't either or they choose to ignore what is blatantly obvious.
As said earlier, I expect once again a colourful array of facts and figures highlighting successes, and there will be a few however if similar to previous, they will give figures over differing timelines which is an old presentation trick to make everything look rosy.
For example the budget we received suggested £580,000 for club rentals. We have achieved a decent £418k, but reality it is almost 28% less than budgeted, but over 100% more than the dismal 22/23 rental year.
As said earlier, I expect once again a colourful array of facts and figures highlighting successes, and there will be a few however if similar to previous, they will give figures over differing timelines which is an old presentation trick to make everything look rosy.
For example the budget we received suggested £580,000 for club rentals. We have achieved a decent £418k, but reality it is almost 28% less than budgeted, but over 100% more than the dismal 22/23 rental year.
As predicted Stuart, I too felt bamboozled with the Sales figures! An owner asked the question that always seems to be the missing piece of the puzzle, ie the Accountant always omits to present the Total Balance accrued on rentals of Club owned Units MINUS the additional overall costs to the Club on Staff Hourly Rates/Cleaning Material; Depreciation on Towels/Linen etc. ONLY when these costs are subtracted from the Rental Balance will the Owners and Board discover the precise amount the Club makes in any Financial Year from Club owned Unit Rental.
I don't think it is that complicated an equation, as Hotel Accountants use such online Calculation Programmes on a weekly basis.
I was impressed by Stephen Walton's Presentation on the next phase of the Refurbishment Programme, it was looking very impressive if the Club can afford it. I liked the fact that the existing Kitchen Units were being refurbished rather than replaced, as they are of a good quality wood you just don't find in modern units.
I'm hoping the dampness in our HL43 can be resolved and ALL the mattresses replaced, as until then we are unable to use our week which seems ludicrous given we are now paying best part of £700 for it!
Ronnie
I don't think it is that complicated an equation, as Hotel Accountants use such online Calculation Programmes on a weekly basis.
I was impressed by Stephen Walton's Presentation on the next phase of the Refurbishment Programme, it was looking very impressive if the Club can afford it. I liked the fact that the existing Kitchen Units were being refurbished rather than replaced, as they are of a good quality wood you just don't find in modern units.
I'm hoping the dampness in our HL43 can be resolved and ALL the mattresses replaced, as until then we are unable to use our week which seems ludicrous given we are now paying best part of £700 for it!
Ronnie
The sales continue to confuse me.
I listened today to the recording of the AGM to verify what I had written on the day, and yes it was correct- 26 lodges sold, but only 16 were club owned.
The answer on listening too again did not sound convincing abd likewise I remain unconvinced on whether sales are really high on the agenda.
If this same pattern applies for remainder of year we will sell a brilliant 38 lodges from the Club stock of 1686 with another 60 plus returned to club over same period which basically means, failure.
I do hope however rentals achieve the same or more in 24/25 and we know the net profit
Can we have please an itemised breakdown of sales before the end of 2024 which maybe will provide some cheers for 2025?
I listened today to the recording of the AGM to verify what I had written on the day, and yes it was correct- 26 lodges sold, but only 16 were club owned.
The answer on listening too again did not sound convincing abd likewise I remain unconvinced on whether sales are really high on the agenda.
If this same pattern applies for remainder of year we will sell a brilliant 38 lodges from the Club stock of 1686 with another 60 plus returned to club over same period which basically means, failure.
I do hope however rentals achieve the same or more in 24/25 and we know the net profit
Can we have please an itemised breakdown of sales before the end of 2024 which maybe will provide some cheers for 2025?