2019 Year End Report to the Owners New Year’s Report to the Owners of Oyster Bay Beach Resort, St. Maarten

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January 1, 2020

Dear Owner,

The last year was a momentous and emotional year for our resort. We saw the completion of the rebuilding and opening of the resort. We felt the emotional charge as our employees, many of whom are our friends, took up their work again and earned a livelihood for themselves and their families and restored their disrupted lives to normalcy. It was a truly gratifying time.

One amenity of the resort that still needs to be addressed is the status of Beau Beau’s. We have exciting plans for the reestablishment of Beau Beau’s. We hope to be able to announce them in the next few weeks. We are confident that we will improve the entire beachfront deck and give it additional uses while cutting down on the disturbance to the rooms above it.

Now that the resort is rebuilt and back in full operations, we find it necessary to marginally increase our annual maintenance assessment. The last time we increased the assessment was six years ago in 2014. Since then, our expenses have increased significantly, with the most prominent being the increase in our insurance premiums. It is more expensive for effective coverage by 400% than before Hurricane Irma.

For that reason, we find it necessary and advisable to increase the annual assessment to owners in the amount of 5% of the current assessment. We will only increase the annual assessment. All other fees, including upgrade fees, will remain the same.

The coupon books being sent by Concord Servicing Corp. already have the increase in the assessment in the billed amount.

On behalf of all of the Oyster Bay Beach Resort familywe wish you a happy and healthy New Year and hope that your New Year resolution is to visit Oyster Bay Beach Resort in 2020. We’re looking forward to greeting you.

Best regards,

Joshua Gold
Managing Director

Mike Dolente
Managing Director