We work hard to keep Grand Residences looking beautiful and Club Service Fee increases to a minimum. However, several factors have impacted resort finances this year. As with other countries around the world, Mexico is being hit by inflationary forces and price rises. The year- end inflation rate forecast is 8.5 percent and 5 percent for 2023. Rising prices of natural gas used in the generation of electricity and of other products and services have also had an impact on the resort budget and this is expected to continue next year.
In order to absorb the impact of inflation, Royal Resorts Management proposed an 8 percent increase in the Club Service Fee for 2023 for fractional and points memberships at the Grand Residences Advisory Council meeting in October. The motion was put to the vote and was approved by your Advisory Council representatives.
| C S F 2 0 2 3 | |||||||
| Villa | 2 Bedroom | 3 Bedroom | W/Roof Garden 2 Bedroom |
W/Roof Garden 3 Bedroom | W/Roof Garden 4 Bedroom | W/Pool 2 Bedroom | W/Pool 3 Bedroom |
| CSF | 2,148.74 | 2,508.40 | 2,292.45 | 2,651.26 | 3,008.41 | 2,221.85 | 2,579.84 |
| VAT | 343.80 | 401.34 | 366.78 | 424.20 | 481.35 | 355.50 | 412.77 |
| 3% Occupancy Tax | 64.46 | 75.26 | 68.77 | 79.54 | 90.24 | 66.65 | 77.39 |
| Total | 2,557.00 | 2,985.00 | 2,728.00 | 3,155.00 | 3,580.00 | 2,644.00 | 3,070.00 |
| Grand Residences CSF 2023 | CSF | VAT | Occup. | Total | CSF Per Point |
|||
| Points | Base | Variable | ||||||
| 2,740 | 3,300 | $ 218.53 | $ 0.1699 | $ 574.80 | 91.97 | 17.23 | $ 684.00 | 0.2496 |
| 3,301 | 4,000 | $ 261.02 | $ 0.1699 | $ 690.75 | 110.52 | 20.73 | $ 822.00 | 0.2490 |
| 4,001 | 4,800 | $ 335.08 | $ 0.1578 | $ 811.76 | 129.88 | 24.36 | $ 966.00 | 0.2414 |
| 4,801 | 5,700 | $ 400.64 | $ 0.1578 | $ 973.10 | 155.70 | 29.20 | $ 1,158.00 | 0.2412 |
| 5,701 | 6,600 | $ 461.34 | $ 0.1578 | $ 1,143.69 | 182.99 | 34.32 | $ 1,361.00 | 0.2387 |
| 6,601 | 7,500 | $ 534.19 | $ 0.1578 | $ 1,324.36 | 211.90 | 39.74 | $ 1,576.00 | 0.2388 |
| 7,501 | 8,600 | $ 607.03 | $ 0.1456 | $ 1,427.73 | 228.44 | 42.83 | $ 1,699.00 | 0.2265 |
| 8,601 | 9,800 | $ 607.03 | $ 0.1456 | $ 1,562.18 | 249.95 | 46.87 | $ 1,859.00 | 0.2161 |
| 9,801 | 10,900 | $ 631.31 | $ 0.1456 | $ 1,729.41 | 276.71 | 51.88 | $ 2,058.00 | 0.2100 |
| 10,901 | 12,100 | $ 643.45 | $ 0.1456 | $ 1,874.80 | 299.97 | 56.23 | $ 2,231.00 | 0.2047 |
| 12,101 | 13,500 | $ 685.95 | $ 0.1456 | $ 2,057.14 | 329.14 | 61.72 | $ 2,448.00 | 0.2023 |
| 13,501 | 15,800 | $ 710.23 | $ 0.1456 | $ 2,248.73 | 359.80 | 67.47 | $ 2,676.00 | 0.1982 |
| 15,801 | $ 734.51 | $ 0.1456 | $ 2,550.42 | 408.07 | 76.51 | $ 3,035.00 | 0.1921 | |
The Royal Resorts Management team will continue to look for savings at Grand Residences, while offering the highest level of service and exceptional vacation experiences.
The Grand Residences Advisory Council meeting report and financial statement will be uploaded to the Owners Area of www.grandresidencesbyroyalresorts.com (owner log in required) in the weeks to come.
We hope this information is useful.