2012 All Around Performance

March 2013 Owner Update

2012 All Around Performance
We are proud to announce that the WorldQuest management team won Remington’s
top award for achieving all five company drivers/goals in 2012. These are: guest
satisfaction, employee empowerment, asset maintenance, market penetration, and
financial performance. This is the 2nd consecutive year that WorldQuest won the top
award throughout Remington’s portfolio of 70 hotels and the 4th time in 6 years that
we’ve achieved all five goals.

As a result of Tim’s outstanding leadership and WorldQuest’s superior results, Tim
was inducted into the President’s Club, an honor reserved only for Remington’s top
performing General Managers. This year just 10 of the 70 General Managers were
inducted into this exclusive club.

Trip Advisor’s Tr avelers’ Choice Awards
In addition to the Remington award, WorldQuest was also awarded two of Trip
Advisor’s coveted Travelers’ Choice awards in 2013. We are now rated the 3rd most
popular Family destination in the United States (up from #7 last year) and 7th World
wide (up from 14th in 2012)! Congratulations!

WorldQuest Orlando Resort won 2013 Travelers’ Choice awards:
  • Top 10 Hotels for Families in the United States
  • Top 25 Hotels for Families in the World

Travelers’ Choice awards are based on millions of reviews and opinions from
TripAdvisor travelers. We hope you’ll take great pride in this recognition from your
guests.

 As our reviews indicate, WorldQuest continues to Wow families with our spacious
condominiums and dedication to customer service and guest satisfaction. We
continue to remain in the top 10 of all Orlando-area hotels.

The Remington “Did you know…”
...Remington Manages over 70 hotels nationwide, including Hilton, Marriott, Hyatt
Regency, Westin, Crown Plaza, Sheraton, and Renaissance families. We also manage
several independent hotels, of which WorldQuest is one. Please take a moment
and familiarize yourself with the Remington portfolio by visiting our website at
www.RemingtonHotels.com.

...Remington’s standards mandate that every unit receives Preventative
Maintenance no less than once a quarter, and all carpets are cleaned by an outside
cleaning service quarterly.

...Remington has an Internal Audit that verifies Remington’s standards are in place
for all operational and financial aspects of the hotel’s operations. WorldQuest got
a jump on our 2013 asset maintenance goal by receiving a Commendable on our
January audit.

...As a WorldQuest unit owner you are eligible for a Friends & Family Rate at
Remington-managed hotels (70 hotels & resorts nationwide). Please contact
Heather and she will confirm availability and rate with the destination hotel and
communicate back to you.

...WorldQuest participates along with all other Remington Hotels in the STAR
reporting alliance which monitors our Revenue Performance against our
competition. This is one of our goals that measures our market penetration. Like we
say in our orientation, “...it is not enough to keep up with our competition; we need
to beat it...”

...Our Guest Satisfaction driver is measured by an independent third party. Every
WorldQuest guest is provided an opportunity to rate their stay, either by a comment
card provided at check -out or an e-mail response that is sent out to every guest.
To achieve our goals, WorldQuest must be in the top 25% of all participating
independent hotels. We are proud to say that we’ve achieved this goal every year
that WorldQuest has been open.

Rental Progr am News
Rental Program & Real Estate

Recently there seems to be an increase in real estate transactions and thus a
potential for an increase in property values. WorldQuest continues to grow and we
are pleased that we now have 218 units in our rental program.

Occupancy & Forecast by the Numbers

The resort continues to market extensively both to maintain the occupancy and

improve the average rates. All advertising & marketing expenses are absorbed
entirely by Remington. In 2013 we will continue our alliance with Expedia and our
wholesalers worldwide, continue to develop relationships in the Brazilian market,
and join Visit Orlando’s advertising efforts with our Canadian neighbors.

        YTD Occupancy (2012):                   YTD Average Rate (2012):

        WorldQuest:             75.1%           WorldQuest:            $111.77

        Metro Orlando:            69.1%         Metro Orlando:           $96.62

        International Drive:      71.0%         International Drive:   $109.05

        Lake Buena Vista:       76.3%           Lake Buena Vista:     $102.96

        Orange County:           72.2%          Orange County:         $103.17

Website

We have new photos for our website – please check them out at
www.worldquestorlando.com. As soon as the Linen Refresh is complete, you will be
able to see new room shots too.

Management Staff

2012 saw some Manager changes that we hope you’ve been made aware of.
First on deck was the addition of Vanessa Velez as Front Office manager. Vanessa
comes to us from The Fountains Resort where she was the FOM, Engineer of Public
Areas, and Night Manager. Vanessa has also worked as Director of Operations and
Condominium Liaison for Avista Management and Assistant General Manager at the
Hampton Inn in Orlando.

Stepping into our Chief Engineer position is Julio Bayon. Julio brings a wealth of
experience and knowledge into the department. He was most recently the Chief
Engineer at the Staybridge Hotel & Suites here in Orlando. Prior to that Julio was
the Facilities Director at the Embassy Suites in downtown Orlando and the Assistant
Chief Engineer at the Adams Mark Hotel at the Florida Mall. Julio has already made
a significant impact inside the units with his carpentry, plumbing, and tiling skills.
Outside the unit, he has brought many projects in-house, thereby saving the COA
maintenance dollars.

In addition to the above changes, we now have Heather Sweeten as the Condo
liaison. She is your one-stop-shop for all your reservation, statement, and COA
questions. Heather’s direct line is 407-387-2258 and e-mail heathersweeten@
worldquestorlando.com.

Inside Your Suite
New Linen Refresh for all rooms

Scheduled for spring 2013 - This new look will help bring all of our bedrooms into the
21st century as we’ll replace the tired and dated bed spreads with crisp comforters
sporting a neutral banner and bed skirt. The pillows will be stacked to add even
more dimension to the bedding, thus creating an inviting resort feel to the room.

Flat Screen Televisions

We would love to complete the room upgrades with flat-screen TV’s (living room
only). Ashford is committed to completing their 94 units in 2013, but we want to be
prudent and ensure your individual owner reserves can support this purchase. If you
would like your individual unit to have flat screen TV’s please contact us and we can
discuss your reserve account and pricing. We would be pleased to install new TV’s to
your unit ahead of schedule.

Mattress Replacement

The King mattresses were replaced in buildings 1, 2 & 3 in 2011. Buildings 4, 5, 6 &
7 are scheduled for the summer of 2013. This will provide increased comfort in the
master bedroom with a high quality Serta mattress.

COA News
Developer turnover of COA coming in 2013

This summer marks the turnover of the COA from Developer to the Owners. We’ll
be providing more details as we get underway in 2013. Right now we are planning
to hold the annual elections in July, as we will be adding two more board positions
– making a 5 member board of directors. We would also like to have a “Meet and
Greet” poolside reception with the current directors and any interested owners prior
to the Annual Meeting. We will firm up the date soon for those of you wishing to
attend.

COA Reserves

We’re pleased to report that our reserves are funded per the approved budget
schedule. This ensures that major replacement costs (roof, elevators, etc) have
monies available thus eliminating the need for any preventable special assessments.

Parking Lot Update

We completed a full reseal of the parking lot in January of 2012. During this upgrade
we also repaired the exposed aggregate in an area in front of building 6. Also note,
to give a crisp inviting impression for our owners and guests arriving at the resort,
the curbs are painted every Monday.

Building Cleaning

We have begun power washing the exterior walls of buildings 1, 2 & 3. This will add
to the overall first impression of the resort that is so important to our visitors. This
project was started in December of 2012 and will continue through the spring of
2013.

       We will continue to do everything we can to provide great vacation
       memories for owners and guests at WorldQuest Orlando Resort, and
       look forward to continued success in 2013.

       Sincerely,
       Tim P. Gross
       General Manager

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