Beaver Creek Resort Company Annual Meeting of the Members November - - PowerPoint PPT Presentation

Beaver Creek Resort Company Annual Meeting of the Members November 24, 2018

Beaver Creek Resort Company

BCRC Annual Meeting

Welcome and Call to Order Beth Howard President BCRC Board of Directors

Beaver Creek Resort Company

• Beth Howard(President)
• Mountain Class F
• Phil Metz
• Mountain Class F
• Tim Maher
• Residential Class A
• Jeff Luker
• Residential Class A
• Greg Willis
• Declarant Class E
• Jim Donohue
• Declarant Class E
• Ross Bowker
• Lodging Class B
• Brian Nolan
• Commercial Class C
• Bob Boselli
• Other Class D

BCRC Board of Directors

Beaver Creek Resort Company

Beaver Creek Resort Company

Meeting Agenda

I. Welcome II. Voting Matters – Jen Brown, BCRC Managing Director III. 2018 Financial Results–Jen Brown, Managing Director IV. Fiscal Year 2019 Budget- Jen Brown, Managing Director V. Resort Update- Jen Brown, Managing Director VI. Transportation Initiatives- Paul Gorbold, Senior Manager, Transportation VII. Commercial Real Estate Initiatives- Jeff Deem, Director, Commercial Leasing VIII. Vail Valley Foundation: World Cup/ VPAC- Michael Imhof, VVF President/CEO & Duncan Horner, VPAC Executive Director IX. Mountain Report – Gary Shimanowitz, Vice President, Mountain Operations X. BCRC Election Results- Elizabeth Jones, Director of Administration XI. BCRC Annual Meeting Adjournment

Beaver Creek Resort Company

Voting Matters

• Board Member Candidates:

1. Class A (Residential Owners): Jeff Luker 2. Class C (Commercial): Brian Nolan

Beaver Creek Resort Company Please complete your ballot for Class A and C candidates at this time.

(if you have not already done so) After completion, please pass ballot to the aisle or raise your hand for staff to collect.

Beaver Creek Resort Company FY18 Financial Performance

October 1, 2017- September 30, 2018

Beaver Creek Resort Company

BCRC FY18 Financial Results (in $000)

FY18 Preliminary Results 2018 (Budget) 2018 (Actual) Variance % Variance

Total Revenue $21,669 $22,622 $952 4.4% Total Expenses $20,419 $20,168 $252 1.2% Net Income (before CapEx) $1,250 $2,454 $1,204 96.3% Capital Expenditures ($1,296) ($794) $502 38.7% Add Back Depreciation $1,101 $998 $102 9.3% Ending Reserve Balance $8,184 $9,813 $1,628 19.9%

Beaver Creek Resort Company FY18 Capital Projects

Beaver Creek Resort Company Capital Projects: Village Renaissance

Upgraded to 10 gig. Fastest bandwidth offered in Colorado. Silk flower boxes “Curious” provided by BCPOA

Beaver Creek Resort Company

Village core flowers

Beaver Creek Resort Company

Landscaping Improvements along escalator beds, recreation path and creek

Beaver Creek Resort Company FY18 Capital Projects

Legendary Attention to Detail: New fire pit, base Centennial Lift Recycling containers Elk & Bear Parking Lot improvements Parking Lot LED lights Ice rink rental shop remodel Ski & bike racks Plaza seating Event equipment Maintenance capital

Beaver Creek Resort Company

FY18 Successes

Village Renaissance: Drive energy into village core

• Beautification: New fire pit gathering area, silk flowers, bear statues at One BC Place, creek cleanup
• Event Enhancements: Winter Culinary, music, Bogart the Bull, Rodeo VIP experience, Zusammen
• Commercial Regulation Update: Businesses open until 8 p.m. when lifts running
• Winter Evening Parking: up to 3 hours free after 5 p.m.
• Retail Experience: Karin’s, Maya Walker, Craniologie, Lil’ Dudes & Daisies
• Restaurant Experience: Colorado Tasting Room, Hooked
• Lodging Experience: Beaver Creek Lodge renovation
• One Village Guest Service training
• Dedicated Vision Project Manager position

Modernize Experience: Differentiate family vacation experience

• Village Connect: “Uberize” guest experience
• Eagle Airport Marketing: promoting Beaver Creek real estate, events, merchants
• Technology: Increase free village Wi-Fi bandwidth to10g, fastest available in Colorado
• Legendary Attention to Detail: Parking garage imagery/ improvements (VR), parking lot overlays, parking lot employee booths (front and

back of house)

• New village holiday programming, décor/ lighting

Beaver Creek Resort Company FY19 Proposed Budget

Includes:

• Civic Assessments
• Mountain Rec Assessment
• Lodging Assessment
• Real Estate Transfer Assessment*
• All Other Misc Revenue Sources (Special Events, DRB, etc.)

Beaver Creek Resort Company BCRC Funding Sources

30.8% 34.6% 25.3% 9.3% Residential Owners* Other Revenue Sources Vail Resorts Inc. All Other Beaver Creek Commercial

Beaver Creek Resort Company

BCRC FY19 Proposed Budget Revenue (in $000)

Revenue Sources 2018 2019 Variance % Variance (Actual) (Budget)

Common Assessment (0 mills) $0 $0 $0 0.0% Civic Assessment (5.35%) $7,316 $7,576 $260 3.6% Lodging Assessment (0.96%) $643 $660 $18 2.7% Mountain & Recreation (5.00%) $5,726 $5,976 $250 4.4% Real Estate Transfer (2.375%) $6,594 $5,502 ($1,092)

• 16.6%

Ice Rink $420 $437 $17 4.0% Special Events $1,633 $1,336 ($296)

• 18.1%

Other Income $290 $249 ($41)

• 14.0%

TOTAL $22,622 $21,737 ($884)

• 3.9%

Beaver Creek Resort Company

BCRC FY19 Proposed Budget Expenses (in $000)

Expense Categories

2018 2019

Variance % Variance (Actual) (Budget)

Administration $1,882 $2,077 ($196)

• 10.4%

Activities & Events $3,319 $3,663 ($345)

• 10.4%

VPAC (Ops + Headliner) $1,451 $1,416 $35 2.4% Professional Services $146 $233 ($88)

• 60.3%

Group Sales $68 $81 ($12)

• 18.2%

Marketing $4,780 $4,815 ($36)

• 0.7%

Transportation $2,492 $2,684 ($192)

• 7.7%

Property Maintenance $2,413 $2,461 ($48)

• 2.0%

Public Safety $2,155 $2,232 ($78)

• 3.6%

Design Review Board $185 $193 ($8)

• 4.5%

Depreciation $998 $1,076 ($77)

• 7.8%

Other Expenses $280 $288 ($8)

• 2.9%

TOTAL OPERATING EXPENSES $20,168 $21,222 ($1,054)

• 5.2%

Capital Expenditures* $794 $3,009 ($2,215)

• 279%

Beaver Creek Resort Company

2019 Proposed Budget Summary

Expense Categories 2018 2019 Variance % Variance (Actual) (Budget) Total Revenue

$22,622 $21,737 ($884)

• 3.9%

Total Expenses

$20,168 $21,222 ($1,054)

• 5.2%

Net Income

$2,454 $516 ($1,938)

• 79.0%

Capital Expenditures

($794) ($3,009) ($2,215)

• 279%

Add Back Depreciation

$998 $1,076 $77 7.8%

Change in Assets & Liabilities

$32 $181 $149

• 465.6%

Ending Cash Balance

$9,813 $8,576 $1,237 12.6%

Debt Balance

$0 $0 $0 0.0%

Ending Reserve Balance

$9,813 $8,576 $1,237 12.6%

Beaver Creek Resort Company

FY19 Budgeted Capital Projects

• Village Renaissance large scale village core activation concept
• Event programming, holiday décor and lighting upgrades
• Covered Bridge entry improvements
• Creekside Park improvement planning/ playground
• Project Legacy beautification with BC Metro District
• Technology upgrades: Wi-Fi, Event POS system
• VPAC skier drop off area heater
• Landscaping refresh
• Snowmelt project

Beaver Creek Resort Company

2018-19 Winter Events

• Nov. 29- Dec. 2: Xfinity Birds of Prey Audi FIS Ski World Cup
• Dec. 7-9: Winter’s Welcome
• Dec. 14-15: Haymeadow Park Grand Opening. BCRC Member Party
• Dec. 21- Jan. 5: Beaver Creek Extraordinaire presents Cheer
• Dec. 31: New Year’s Eve Celebration (Ford Hall)
• Jan. 13, Feb. 10, March 3: Snowshoe Series
• Jan. 24-27: Beaver Creek Winter Culinary Weekend
• Feb. 15-18: Beaver Creek Extraordinaire presents Spangled
• Feb. 23: Talons Challenge

March 9-30: Beaver Creek Extraordinaire presents Bloom April 14: Mountain closing day Thursday Night Lights: Dec. 13, 20, 27; Jan. 3, 10, 17, 24, 31;

• Feb. 7, 14, 21, 28;

March 7, 14, 21, 28 Family Funfest: Dec. 8, 15, 22, 29; Jan. 5, 12, 19, 26; Feb. 2, 9, 16, 23; March 2, 9, 16, 23, 30; April 6, 13

Beaver Creek Resort Company

Paul Gorbold

Village Transportation

Beaver Creek Resort Company

Beaver Creek Resort Company

Village Connect – Available for iOS and Android

Beaver Creek Resort Company

Village Connect – Updates for Winter ‘18-’19

• Village Connect will replace all on demand

transportation

• Village Express will include all fixed routed

service

• Bear Lot = Bear Lot Express
• Creek Route = Creek Express
• Lodging front desk ride booking Kiosk

Beaver Creek Resort Company

Enhanced Guest Experience

Beaver Creek Resort Company

Comprehensive information portal

Beaver Creek Resort Company

Jeff Deem

VR Commercial Leasing

Beaver Creek Resort Company

New Retail Stores:

• Lil’ Dudes & Daisies
• Maya Jewelry
• Craniologie

Store Expansion/ Remodel:

• Karin’s expanded storefront

Restaurant Expansion:

• Hooked

Restaurant Re-Brand:

• Colorado Tasting Room (formerly The Met)

Beaver Creek Resort Company

Mike Imhof President/ CEO Vail Valley Foundation Birds of Prey

Beaver Creek Resort Company

Duncan Horner

Executive Director VPAC

VILAR PERFORMING ARTS CENTER W I N T E R 1 8 / 1 9 S E A S O N H I G H L I G H T S

VILAR PERFORMING ARTS CENTER

W I N T E R 1 8 / 1 9 S E A S O N

• DEC. 13 – BROTHER’S KEEPER & FRIENDS
• DEC. 21 – SPANISH BRASS
• DEC. 22 & 23 – A CHRISTMAS CAROL
• DEC. 27 – SANTA’S CIRCUS
• DEC. 28 & 29 – THE BEACH BOYS – NOW & THEN
• DEC. 30 – VANESSA WILLIAMS
• JAN. 3 – NIEL BERG’S PIANOMEN
• JAN. 8 – FACE
• JAN. 16 – NPR’S FROM THE TOP
• JAN. 7 – CHRISTOPHER O’RILEY
• JAN. 18 – CLASSIC ALBUMS LIVE: SGT. PEPPER’S
• JAN. 20 – HOWIE MANDEL
• JAN. 21 – BLITZEN TRAPPER
• JAN. 24 – ROCK OF AGES
• JAN. 27 – MARC COHN
• JAN. 31 – ENSEMBLE MIK NAWOOJ
• FEB. 2 – MARTY STUART AND HIS FABULOUS SUPERLATIVES
• FEB. 6 – JJ GREY & MOFRO
• FEB. 7 – CALEFAX REED QUINTET
• FEB. 9 – BALLETX
• FEB. 12 – TRIO CON BRIO
• FEB. 14 – BODYTRAFFIC
• FEB. 15 – AN EVENING WITH LEFTOVER SALMON
• FEB. 16 – VITALY: AN EVENING OF WONDERS
• FEB. 17 – JIM BELUSHI & THE BOARD OF COMEDY
• FEB. 19 – TAKACS QUARTET
• FEB. 20 – ILUMINATE
• FEB. 22 – DSQ – ELECTRIC
• FEB. 26 – THE CHRISTIE LENEE PROJECT
• FEB. 28 – ABBA MANIA
• MAR. 6 – THE RISING STARS OF OPERA
• MAR. 7 – NIKKI LANE
• MAR. 11 – PABLO SAINZ VILLEGAS
• MAR. 12 – RUBEN SINGS LUTHER
• MAR. 14 – COMING TO AMERICA
• MAR. 16 – BALLET HISPANICO
• MAR. 17 – THE UNDERWATER BUBBLE SHOW
• MAR. 20 – VOICEPLAY
• MAR. 22 – HOWARD JONES
• MAR. 24 – PIFF THE MAGIC DRAGON
• MAR. 26 & 27 – CIRQUE ELOIZE - SALOON
• MAR. 29 – KANSAS – POINT OF KNOW RETURN TOUR
• APR. 3 – PUSH – PHYSICAL THEATRE

VILAR PERFORMING ARTS CENTER T I C K E T P A C K A G E S

Ballet X: Nicolo Fonte World Premiere | FEB 9 Bodytraffic | FEB 14 Ballet Hispanico | MAR 16 Push (Physical Theater) | APR 3 Select five performances, receive the best available seating and enjoy big entertainment for only $150.

VILAR PERFORMING ARTS CENTER

Also known as the “Love for the Locals Series,” we feel nothing is better than sharing in the discovery (and re- discovery) of NEW sounds. Come have a drink and discover the music! WINTER Underground Sound Lineup: Blitzen Trapper | MON JAN 21 Ensemble Mik Nawooj | THURS JAN 31 JJ Grey & MoFro | WED FEB 6 DSQ – Electric | FRI FEB 22 The Christie Lenée Project | TUES FEB 26 Nikki Lane | THURS MARCH 7

VILAR PERFORMING ARTS CENTER

O T H E R U P D A T E S

New Sound Console May Gallery Redesign New Development Director: Owen Hutchinson In-House Programming Classical Salon Series

Beaver Creek Resort Company

Gary Shimanowitz

Mountain Updates

The Ice Cream Parlour

• Learn. Explore. Connect.

SaddleRidge – Table Service Gourmet Lunch

Beaver Creek Resort Company

McCoy Park

Beaver Creek Resort Company

Voting Results

Beaver Creek Resort Company

Member Appreciation Party

Saturday, December 15 4-6 p.m. Toscanini Restaurant

RSVP to (970) 845-5971.

Beaver Creek Resort Company

Thank you and Happy Holidays!