Memories for Generations ® March 23, 2015 Dear Members, 2014 has been an exciting year for Royal Aloha Vacation Club and its members. In addition to the extensive remodeling and refurbishment program that has begun and will continue over the next several years, we have made several system-wide upgrades and improvements we know will enhance the enjoyment of your upcoming RAVC stay. We’re sure you’ll notice the difference and appreciate the Club’s commitment to making your next RAVC vacation more comfortable and enjoyable. New comment cards to evaluate your stay are now available online. Your feedback continues to provide management valuable information and we encourage you to complete a comment card after each of your RAVC visits; all your comments, suggestions and/or criticism will be reviewed and taken seriously. They serve as an important tool for us to continue to enhance the resorts and your vacation experience. We encourage you to become an RAVC insider and get all the latest Club news when you subscribe to our Blog at www.ravc.com. Royal Aloha’s condensed financial report for fiscal year ended November 30, 2014 is available at www.ravc.com/annualmeeting. You may request a complete audited financial report by telephoning the corporate office after the Annual Meeting at (808) 847-8050 ext. 100. As always, we will continue to closely manage the operating expenses that are within our control. Please take a few moments now and then to visit RAVC’s website (www.ravc.com) to keep abreast of any Club news and to read the “memories” newsletter. We also recommend that you occasionally check ARDA-ROC’s website (www.ardaroc.org) for frequent updates on “rescue” companies who mislead people with false assurances regarding the purchase and resale of their week. If you receive a letter, postcard or call about your membership and it is not from RAVC, we advise you to get their name, telephone number and the person whom you spoke with and call us immediately before agreeing to anything. Protect yourself from these proliferating scams! This year’s Annual Meeting of Members convenes at 9:00 am on Saturday, May 9 at the Hilton Waikiki Beach Hotel in the Altitude 37 room. In addition to director election, we are also asking the membership to approve amendments to Article VII - Board of Directors of RAVC’s bylaws. The purpose of the amendments is to improve board operations and governance of the Club. To review the complete text of the amendments, please visit our website at www.ravc.com/annualmeeting. The board unanimously recommended that you vote YES to the amendments. If you are unable to attend the meeting, please take a few minutes to read the Proxy Statement at www.ravc.com/annualmeeting before returning your proxy card. The Proxy Statement contains biographical information for the nominees running for the two Member Director openings. Having served two consecutive terms as a Member Director, Wayne Carney is retiring this year. Wayne has chaired both the Nominating Committee and the Strategic Planning Committee, and was also an active member of other RAVC board Committees. A big “mahalo” goes out to Wayne for his significant contributions to the Club. We hope to see many of you at the Annual Meeting on May 9. If you will not be attending, please return your proxy with your vote. The deadline is May 6, 2015. Aloha and Mahalo Nui Loa, G.A. “Red” Morris Chairman of the Board David DiBerardino President & CEO
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