July 23, 2015

Dear Mayacama Members,

The lodging aspect of Mayacama, positioning the membership as a guest house in the Wine Country, was an essential component of the club experience when the family purchased the land in 1998. We continue to believe it is still very important and actually may be a far more important part of the Member experience with all the new friendships that have evolved over the years. Staying on “campus” is clearly a key component of fully enjoying this beautiful property and all the amenities that go with it.

We intend to enhance the lodging experience of the Club by completing the remaining 14 Villa units in the next 24 months. We plan to accomplish this objective by selling 10-12 of the remaining Villas as whole ownership units.

The goal is to create a program that is appealing to the current Residence Club Members, prospective Villa Owners, and also addresses the long term lodging needs of the Club. We believe the terms outlined below will accomplish these objectives. However, we would also like to have some feedback from Members who may have an interest in participating in the Whole Ownership Villa program.

• Members will be offered an opportunity to acquire a fully furnished three bedroom Villa as a whole ownership unit (product structure is being created to coexist with the current Residence Club HOA).
• The price of the Villa is $3.5M (fully furnished).
• The anticipated build time is 10-12 months with payments spread throughout the construction period.
• Participants in this offering will be entitled to an upgrade to family Legacy membership status at no charge.
• Villa Owners
• Use of Villa (do owners anticipate using more or less than 120 days per year?)
• Renting can cover some or all of the owner’s costs depending on availability for Club nightly rentals.
• Family members and sponsored guests may use the Villa during the owners’ time.
• If owners make the Villa available for 8 months of rental or more to the membership, Mayacama can potentially guarantee the coverage of their annual operating expenses with revenues in excess being split 50/50.

As you contemplate this investment opportunity, you may wish to consider a few reasons why the program may make sense for you:

• The opportunity is very limited and scarce, as there will only be 10-12 Villas available within the confines of a top 5 golf course in California, that will likely never be replicated in Napa or Sonoma counties.
• Ease of access for the owners which is currently difficult because of the nature of Residence Club programs.
• Fixing the price of your lodging experience at 2015 costs is a key component.
• Financing the purchase at today’s low interest rates which are certain to rise in the future.
• A hassle free way to own a home in the Wine Country with the majority of expenses paid.
• Storage units for personal property at each Villa.
• Villa Owners will select the name of their Villa (i.e. Butler Cottage, Eisenhower Cottage, etc.).

The Club just completed a rental rate analysis of the highest quality luxury accommodations in the Napa/Sonoma region as outlined below:

• Auberge: 1,800 sq. ft. one bedroom ($5,225 per night June-September, $4,000 per night all other times)
• Meadowood: 2,000 sq. ft. one bedroom ($3,600 per night June-September and $3,000 per night all other times)
• Calistoga Ranch: 2,400 sq. ft. two bedroom ($3,895 per night June-September and $3,095 per night at all other times). Calistoga Ranch currently sells two and three bedroom whole ownership for $2.6M per unit with annual dues of $90,000 per year.

There is not a single unit at the above mentioned properties that can remotely compare with the size, quality, and luxury of the Mayacama Villas or can compare with the Mayacama Club experience. We encourage you to see for yourself and you will realize the great value of a Mayacama Villa at a current price of $1,300 per night. The lodging rental rates at Mayacama are 50-60% below market and are certain to rise in the years ahead which will produce increased returns for the Villa Owners and the Club.

Completing the build out of our facilities is the primary objective of the partners in the coming years and we believe this direction will enable us to accomplish this goal. If you are interested in learning more and registering for an opportunity to participate in this program please email me with any suggestions that you feel would enhance the plan. 

I look forward to hearing from you and providing more details on this exciting new offering.

Regards,

Jonathan Wilhelm
Managing Partner

Jonathan Wilhelm, Managing Partner
[email protected]
707.569.2901