KEYSTONE RESORT PROPERTY MANAGEMENT

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Eustace Snow
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1 KEYSTONE RESORT PROPERTY MANAGEMENT

2 WITH, YOU WON T HAVE TO CHOOSE BETWEEN PERFORMANCE AND SERVICE. Consistently earn more revenue with KRPM than with other companies. Receive on-site service superior in both its quality and responsiveness. Enjoy unmatched homeowner benefits exclusive to KRPM rental partners.

RENTAL PROGRAM Since the resort was founded, Keystone Resort Property Management (KRPM) has been and will remain the leading property management company in Keystone.

FINANCIAL PERFORMANCE Keystone Resort Property Management consistently generates higher levels of revenue than any other local property management firm.

com, the most visited website by those who are planning a visit to Keystone KRPM is the exclusive vacation rental provider to the Keystone Conference Center, the largest event venue in the Rockies,

3 RENTAL PROGRAM Since the resort was founded, Keystone Resort Property Management (KRPM) has been and will remain the leading property management company in Keystone. We are distinguished by our winning combination of top financial performance, superior service, and unmatched homeowner benefits. FINANCIAL PERFORMANCE Keystone Resort Property Management consistently generates higher levels of revenue than any other local property management firm. We are Vail Resorts, the premier mountain resort company in the world and a leader in luxury, destination-based travel at iconic locations KRPM is the only vacation rental provider of KeystoneResort.com, the most visited website by those who are planning a visit to Keystone KRPM is the exclusive vacation rental provider to the Keystone Conference Center, the largest event venue in the Rockies, which generates year-round revenue in addition to winter demand Extensive and comprehensive resort and corporate marketing initiatives; exclusive Kids Ski Free and Play for Free programs, packaging with Keystone Mountain Lift Tickets, inclusion in corporate initiatives including the 96-Hour and Cyber Monday sales, exclusive access to bookability on KeystoneResort.com, support from the multi-million dollar and comprehensive multi-channel marketing plan. Our vacation rental properties are exclusively booked in conjunction with all Keystone Resort signature wedding venues, increasing opportunities for year-round revenue Dedicated Keystone vacation coordinators turn more calls into bookings 365 days per year, 24 hours a day using cutting-edge lead management software Industry leading performance on vacation rental websites like VRBO.com. We convert inquires to bookings at four times the national average Strategic revenue generating partnerships with top wholesalers such as Expedia, Booking.com, and Hotels.com Professional Revenue & Inventory Management strategically sets and adjusts rates to optimize your financial performance SERVICE Vail Resorts mission is to provide Experiences of a Lifetime. At KRPM we make vacation homeownership an Experience of a Lifetime with unparalleled service 24 hours per day, 365 days per year THE TEAM The largest hospitality operation in Keystone boasting unmatched resources Your on-site property management team is dedicated specifically to your mountain property seven days a week Our on-site skilled maintenance technicians, including locksmiths, licensed electricians, plumbers and certified HVAC technicians, are available at the lowest rates in Keystone Our in-house cleaning team is located on-site and consistently delivers high quality housekeeping services On site guest service agents are available to answer your call 24 hours a day Friendly associates greet you from four conveniently located registration desks, including the Keystone Lodge open 24/7 Exclusive homeowner storefront and designers help make high-impact property improvements easy and provide high quality furnishings at wholesale pricing. TECHNOLOGY Cutting edge property management and dispatch system, including mobile app technology, allows us to provide the highest level of service SafLok electronic lock programming and security Real time guest survey system allows us to identify trends and nimbly adapt our operations to guest and homeowner needs and expectations

RENTAL PROGRAM BENEFITS As a trusted rental partner, we are excited to offer you discounts and perks at locations across the Vail Resorts portfolio including not only our mountains, but also at

Lodging: 30% discount on posted rates. Transportation: Up to 15% off Colorado Mountain Express airport transportation services booked online.

Food & Beverage: 15% discount at participating restaurants. Retail: 15% discount on full priced retail items at all Vail Resorts Retail stores.

4 RENTAL PROGRAM BENEFITS As a trusted rental partner, we are excited to offer you discounts and perks at locations across the Vail Resorts portfolio including not only our mountains, but also at participating hotels and lodging, retail outlets, food and beverage locations, spas, golf courses and much, much more. Visit www. legendarylodging.com for more details. Lodging: 30% discount on posted rates. Transportation: Up to 15% off Colorado Mountain Express airport transportation services booked online. Golf: 15% discount and preferred tee times on all Vail Resorts owned public golf courses. Spa: 20% discount off services and full price retail items at all Vail Resorts and RockResort Spas. Food & Beverage: 15% discount at participating restaurants. Retail: 15% discount on full priced retail items at all Vail Resorts Retail stores. Rentals: 15% discount on rental equipment at all Vail Resorts Retail stores. Ski Tunes: 25% discount on all ski tuning and repairs at Vail Resorts Retail stores. MORE KEYSTONE SPECIFIC BENEFITS INCLUDE: Complimentary summer gondola rides 3 exclusive First Tracks days per season* Discounted lift tickets 10% off KAT skiing 15% off Ski & Ride Group Lessons 15% off full day camp rates & daycare Free overnight Ski Check at River Run and Mountain House base areas 20% discount on rental equipment at all Keystone Sports locations MANAGEMENT FEE Our management fee is 50% of adjusted gross revenue. Homeowners will consistently take home more revenue with KRPM than with other companies advertising lower management fees. KRPM achieves this by generating higher levels of gross revenues while not charging for services that other companies charge in addition to the management fee. MANAGEMENT FEE INCLUDES All marketing, promotional, and credit card expenses Minor maintenance services at no additional cost Coordination of contractor services, including bidding process, deliveries, and payments on one consolidated expense and revenue statement, with no markup Deeply discounted and pre-negotiated prices on parts and goods, which are procured leveraging Vail Resorts buying power Two complimentary homeowner check-out cleans annually Daily trash and towel service for homeowners, upon request Linen and terry Replenishment of consumables and amenities such as soap, shampoo, lotion, kitchen and dishwashing cleaners, paper products, coffee, salt and pepper Annual professional quality rating to help you align your property with guest expectations and industry standards Accounting services including online access to monthly and annual financial statements, direct revenue deposits available, and sales tax collected and paid on your behalf

NON-RENTAL PROGRAMS LOCK SERVICE This agreement provides unit lock services

unit but finds value in the resources and reliability of a fulltime

Periodic property inspections allow you to rest easy while we keep an eye on

On-site property manager and staff SafLok electronic lock programming and

5 NON-RENTAL PROGRAMS LOCK SERVICE This agreement provides unit lock services only and grants use of Keystone s locksmith team, Saflok electronic lock programming, and key system. HOMECARE Homecare is ideal for the Homeowner who is not looking to rent their unit but finds value in the resources and reliability of a fulltime professional property manager. Periodic property inspections allow you to rest easy while we keep an eye on your home away from home. On-site property manager and staff SafLok electronic lock programming and security Periodic property inspections Access to all in-house housekeeping & maintenance services Eliminate the hassle of a lockbox by utilizing one of our four conveniently located registration desks including a 24/7 option at the Keystone Lodge

their own but need access to the services

We take care of providing excellent service

24/7/365 on-site management, maintenance, and

your guests. No more late night phone calls.

6 KEYSTONE RENTAL BY OWNER (KRBO) For Homeowners who prefer to rent their units on their own but need access to the services necessary to rent a property. You market the unit, maintain your advertising, and handle reservations yourself. We take care of providing excellent service to your guests from the moment they arrive. 24/7/365 on-site management, maintenance, and guest services staff to address the needs of your guests. No more late night phone calls. Eliminate the hassle of a lockbox by utilizing one of our four conveniently located registration desks including a 24/7 option at the Keystone Lodge SafLok electronic lock programming and security Flat monthly fee plus all housekeeping, repair, and maintenance costs

TESTIMONIALS We switched to Keystone as our property management and rental company and have not looked back.

appliances. It s all about numbers, they said. Numbers with no regard for the property, we said.

Keystone sets high standards for their guests, providing all the little touches a guest should expect to find at a world class ski resort.

7 TESTIMONIALS We switched to Keystone as our property management and rental company and have not looked back. Our previous management company shoe-horned as many warm bodies as possible into our unit, at a low rental rate, which caused much greater wear and tear to the furniture, carpet, hot tub and kitchen appliances. It s all about numbers, they said. Numbers with no regard for the property, we said. Since changing to Keystone, we have noticed a marked difference, both from a guest s and owner s point of view. Keystone sets high standards for their guests, providing all the little touches a guest should expect to find at a world class ski resort. Upon entering our unit, Keystone helps create the ambiance, welcoming owners with a bottle of wine beckoning to be opened. From the coffee on the counter to the warm terry cloth bathrobes in the closet, all details are considered. Even the bed sheets are soft and comfortable. For the guest s pleasure and safety, the hot tub in our unit is inspected and maintained consistently. The difference Keystone provides is dramatic. From an owner s point of view, having our property manager, Matt, on site is another huge advantage that Keystone offers, and is another important reason we have continued to stay with them. Matt is extremely responsive, and since he is only a short walk away, he is always accessible. Being on site has also enabled him to learn the quirks of our property. When there have been problems in our unit, Matt goes the extra mile to make sure the issue is resolved promptly, keeping us informed of the more serious problems either by or telephone, to make sure that any work done by his maintenance crew or other contractors is up to Keystone standards. All in all, Keystone has been an excellent choice for us and we couldn t be happier. - BILL & NANCY We first joined Keystone Property Management when we bought our place. We loved everything about them, but didn t like paying the higher rental commission and decided to try others. After trying three different management companies in Keystone that all claimed to be able to rent our unit more, clean our unit better, we were greatly disappointed in all three. Our unit was rented a lot less, therefore, even with the lower commission our rental income in comparison was down significantly. Each and every time we would visit our unit there would be issues with cleaning, maintenance and security of the unit. Our unit was not maintained to the level that we were used to with Keystone Property Management. After the lack of bookings and the various other issues with cleaning and maintenance with the last three management companies, we returned to Keystone Property Management for the 24 hour guest service, the unit s cleanliness to a standard of resort feel and welcoming. I am confident that our rental numbers will go back to where they were before trying others. Our lesson learned, is that you get what you pay for and in the long run it was actually more costly to go with the other firms. It has been great to work with Keystone Property Management on each and every avenue on the rental side. Our unit is well maintained, cleaned and always a joy to come too, instead of the nightmares we have had in the past. - LYNN As owners we are able to enjoy the use of the investment ourselves as well as the benefits of income and property appreciation. Our unit is an investment tool for us. We sold a duplex in Denver and reinvested the proceeds in Keystone and we ve rented our unit the entire time we ve owned. It has proven to be a very positive investment for us over the last 15 years. Other rental companies have no investment. Their interest is in profit only. Keystone Property Management helps owners who rent with them in additional ways by assisting with deliveries and work being done inside the units. Housekeeping is responsive in a very timely manner replacing and providing items that are missing or need replaced at no charge. Examples: coffee pots, kitchen utensils, linens, etc. Twice we have had deliberate damage to our unit by renters. Keystone property management and housekeeping have identified the sources of damage and charged the appropriate credit cards for repair. The percentage of rental income taken by Keystone is greater than other companies, but Keystone also provides more without charge. In the end we feel that Keystone is a much better investment and for our investment. The time that we get to enjoy at Keystone is an added benefit to us. -BRIAN

Silver Mill #8269 Revenue Analysis Silver Mill Two Bedroom/Two Bathroom Revenue Performance 2013-2014 Year End Average Total Revenue: $27,918 on 115 Rental Nights 2013-2014 Year End High Revenue:

8 Silver Mill #8269 Revenue Analysis Silver Mill Two Bedroom/Two Bathroom Revenue Performance Year End Average Total Revenue: $27,918 on 115 Rental Nights Year End High Revenue: $30,392 on 123 Rental Nights Year End Average Total Revenue: $30,405 on 113 Rental Nights Year End High Revenue: $39,278 on 133 Rental Nights December-March Average Total Revenue: $23,480 on 71 Rental Nights December-March Average Total Revenue: $23,452 on 67 Rental Nights Based on historical data and year over year pacing we estimate Silver Mill 2/2 s will generate average gross revenues of $30,377 for the 2015/16 Season. Silver Mill Two Bedroom/Two Bathroom Historical Revenue Summary $50,000 $40,000 $30,000 $20,000 $10,000 $ Average High Questions? Need more information? Call Mike D. Murlin with Keystone Resort Property Management at or send an to MMurlin@vailresorts.com. Projections of future revenues are based on historical performance data and current season pacing. Actual revenue performances will vary based on unit quality and owner s usage.

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Genuine Hawaiian Hospitality. Spectacular Residences. Impeccable Service. Unforgettable Moments. Genuine Hawaiian Hospitality Spectacular Residences. Impeccable Service. Unforgettable Moments. RENTAL & HOME CARE Impeccable service. Carefree ownership. ENTRUST YOUR HOME to Mauna Kea Residences and