A: Unfortunately, no, the renovation design must remain consistent across all participating units in the rental management program. Here’s why:

1. Consistency Is Required to Regain Four Diamond Status

• Resorts flagged under global brands like World of Hyatt are built on a core promise: a consistent, high-quality guest experience in every room.
• Guests choose these properties because they know what to expect, not a mix of styles or varying room quality.
• The new model unit design has already been reviewed and approved by AAA as meeting the Four Diamond standard.
• To regain that designation, all rooms in the rental management program must reflect the same approved experience. Allowing even small customizations could compromise eligibility and dilute the overall guest experience.

2. Cost Savings Depend on Bulk Purchasing

• The renovation is priced based on volume discounts; buying the same fixtures, furnishings, and materials helps achieve this pricing.
• Customizing individual units disrupts those savings and introduces complexity into procurement, scheduling, and installation - driving up costs for everyone and adding time and inefficiency to the project.

3. Standardization Supports Efficient Maintenance

• A consistent design ensures that if something breaks, like a light fixture, chair, or table, it can be quickly and affordably replaced.
• Custom items make maintenance slower and more expensive, potentially impacting both guest experience and unit availability.
• Standardization also simplifies inventory management and supports long-term operational efficiency.

4. The Goal Is a Unified Resort Experience, Not Personalization

• The renovation is designed to elevate the brand, support high guest expectations, and ensure Everline competes effectively in the luxury resort space.
• The focus is on long-term value and broad appeal, not individual design preferences.
• This ensures everyone in the rental program benefits from increased desirability, higher occupancy, and stronger overall performance.

5. The Design Is Led by Industry Experts

• Looney & Associates, https://www.looney-associates.com/ one of North America’s premier hospitality interior design firms, created the renovation plan based on extensive experience with luxury hotels and resorts. Their design balances style, durability, and the evolving expectations of today’s destination traveler.
• H-CPM, https://h-cpm.com/ our construction manager, brings deep expertise in hospitality renovations, ensuring the project is practical, efficient, and built to last.
• These professionals were selected because they understand the unique needs of resort operations and owner communities like ours.

In short, a unified renovation is what enables us to regain Four Diamond status, control costs, streamline operations, and elevate the guest experience, all of which benefit participating owners.

A: The renovation has been designed to accommodate the variety of unit types and configurations found in the resort. While the finishes, materials, and overall design aesthetic are consistent to support our Four Diamond rating goals, certain elements, like layout and fixtures, will be adjusted to fit each unit’s size, shape, and existing features. It’s not a one-size-fits-all approach; the team has worked closely with design and construction experts to maintain both flexibility and consistency.

A: Yes, the renovation reflects a strong commitment to sustainability, environmental responsibility, and the unique ecological values of the Lake Tahoe region. Key features include:

• Low-VOC Materials: All paints and custom carpets used in the renovation are low-VOC, which supports better indoor air quality and reduces environmental impact. Carpets are off-gassed prior to occupancy to ensure a healthier guest experience.
• Energy-Efficient Lighting: The updated design incorporates energy-efficient lighting systems, including motion-activated cabinet lighting that turns on only when doors are opened. Bulbs and fixtures have been selected for efficiency and durability.
• Water Conservation Plumbing: Low-flow plumbing fixtures are being installed throughout the renovated units. These upgrades reduce water use while maintaining high performance and guest comfort, a critical priority in a sensitive watershed region like Lake Tahoe.
• Smart Controls for Energy Management: Fireplaces in applicable rooms will include timer switches to help minimize unnecessary energy use, contributing to a more efficient overall operation.
• Advanced Air Filtration: Eco-friendly air filters have been selected to support healthier indoor air quality, ensuring a clean, comfortable environment for guests while aligning with environmental goals.

These elements not only enhance the guest experience but also reinforce Everline’s long-term commitment to responsible stewardship of this extraordinary alpine environment.

A: Current pricing is based on detailed estimates developed by H-CPM, the resort’s construction project manager. These estimates reflect the cost of renovating the model unit, along with conservative assumptions to account for inflation, labor availability, and delivery logistics. The pricing also includes a built-in contingency buffer to help protect against unforeseen cost overruns.

The final scope of the project depends on both owner participation and minor design refinements still underway; therefore, these numbers represent the current best estimates, not guaranteed final prices. Once participation is confirmed and the scope is locked, H-CPM will secure competitive contractor bids, and owners will be notified of any adjustments.

Estimated pricing by unit type (from Schedule C):
• Queen/King Studio: $40,000–$45,000
• 1-Bedroom Suite: $57,000–$62,000
• 2-Bedroom Suite: $88,000–$93,000
• 2-Bedroom Penthouse: $115,000–$127,000
• 3-Bedroom Suite: $127,000–$135,000
• 3-Bedroom Penthouse: $128,000–$138,000

These costs include all new furniture, fixtures, equipment (FF&E), finishes, and appliances required to meet Four Diamond hospitality standards. By coordinating the renovation as a unified project, the resort can achieve economies of scale and deliver significantly better value than if owners attempted to renovate their units individually.

A: Yes. CoralTree has developed an ROI model to help owners evaluate the long-term financial value of participating in the renovation. The analysis explores three scenarios based on how often an owner uses their unit during peak months and whether they take advantage of the Seasonal Availability Bonus.

Across all scenarios, renovated units are projected to outperform non-renovated units over time in terms of revenue, occupancy, and resale value. Owners who prioritize rental income may see faster returns, while those who use their units more frequently still benefit from upgraded quality, reduced maintenance costs, and a stronger long-term asset.

A full explanation of the CoralTree ROI analysis, including assumptions, usage scenarios, and how personal use fits into the return calculation, is available here: [Link View Full ROI Analysis on portal]

A: The current pricing includes a built-in contingency designed to absorb cost fluctuations and unexpected conditions. H-CPM, the resort’s experienced construction project manager, developed these estimates using conservative assumptions based on real-world hospitality renovations. Their goal is to deliver the project on time and on budget. Once participation and design scope are finalized, the project will go out for competitive contractor bids, and any necessary adjustments will be shared transparently with owners. The renovation team’s top priority is protecting owners from surprises while maintaining quality and value.

A: Absolutely. One of the key roles of H-CPM, our construction manager, is to conduct value engineering reviews to identify ways to optimize costs while preserving quality and the guest experience. H-CPM is working with our design team at Looney & Associates to review the as-built design in the model unit and suggest alternate materials, fixtures, and finishing options to optimize the budget without compromising design integrity. The Architectural Review Committee, made up of unit owners, is participating in the review.

A: Each guest room is a privately owned real estate asset. As with any condo-hotel model, capital improvements to individual units, like furniture, fixtures, and finishes, are the responsibility of the owner, not the resort.

That said, Everline does share in the revenue and has made significant investments in the shared resort experience that benefits all owners. This includes upgrades to meeting spaces, lobby areas, the golf course, restaurants like Six Peaks Grille, and year-round marketing to attract group and leisure guests. These improvements support higher occupancy and stronger brand value, and they were funded entirely by Everline, with no owner contributions.

Everline has also invested more than $1 million in this renovation effort, covering design fees, construction management, model-unit development, and staff time over the past 2 years. Everline absorbed these upfront costs to move the project forward and ensure quality, consistency, and value for participating owners.

This is a shared investment model. Owners invest in their own units. Everline invests in the resort experience that surrounds them, and both sides benefit when the resort thrives. Participating owners also stand to personally gain from increased rental revenue and long-term appreciation in the value of their real estate asset.

A: {{AWAITING FEEDBACK FROM NICOLE ON EXACT WORDING FOR MULTIPLE KEYS}}

The Seasonal Availability Bonus is applied per Unit, not per key. Each unit is eligible for up to $2,000 per month during the peak months of January, February, March, June, July, and August, for a maximum of $12,000 annually, provided the unit is fully available for guest bookings and not occupied by the owner or their guests.

However, if your unit has multiple keys (such as a 2- or 3-bedroom lock-off), and you choose to occupy just one part of it while leaving another key available to the rental pool, you can still receive $1,000 per month for that partial availability. {{NOTE: ASK NICOLE IF IT IS PRORATED PER KEY?}}

The distinction is that the bonus is earned per unit, based on how much of the unit is made available to the rental program during peak months. Full availability earns the full $2,000/month; partial availability earns $1,000/month.

A: Yes. To remain in the Rental Management Program, participation in the renovation is required. This ensures that all rental units meet a consistent design and quality standard, which is critical to regaining Four Diamond status and delivering a unified guest experience. Without alignment across units, the resort cannot meet brand or guest expectations, and the program as a whole would suffer.

A: The requirement will take effect once the renovation is complete and the program officially re-launches. That’s currently projected for January 2027, assuming the project stays on schedule. Until then, current participants may continue operating under the existing agreement.

A: Absolutely, any owner is welcome to join the Rental Management Program by opting into the renovation. There is no penalty or additional fee for joining now, even if your unit wasn’t in the program previously. This is a great opportunity for owners who want to generate rental income and be part of the refreshed, upgraded experience.

A: If your unit is sold during the 3-year post-renovation term, the early termination fee will be waived as long as the new owner agrees to remain in the Rental Management Program through the end of the agreement. The goal is to maintain fairness and protect the value of participation by ensuring renovated units stay within the program and continue meeting guest expectations.

{{INSERTING NEW P&L STYLE TABLE HERE TO ILLUSTRATE CLEARLY THAT EVERLINE MAKES LITTLE OR NO PROFIT FROM THE RENTAL MANAGEMENT PROGRAM. WILL RE WRITE THE NARRATIVE TO SUIT}} A: This is a common question, and it’s essential to break down how the numbers work: • First, a fixed 13% is deducted from gross revenue to cover essential, non-negotiable expenses, including World of Hyatt participation, franchise fees, and a portion of resort marketing. These costs help drive occupancy and premium rates. They are not profit centers, and they don’t cover all of Everline’s marketing expenses; the resort covers a significant portion of the remaining costs. • The remaining 87% is split evenly: o 50% to the Owner (43.5% of the gross) o 50% to Everline (43.5% of the gross) From Everline’s share, the resort pays for the full range of guest-facing services, including daily housekeeping, reservation systems, credit card fees, maintenance, on-site staffing, and management oversight. These expenses add up: the actual average cost per stay is $80 per key, per night, with housekeeping as one of the largest components. {{NOTE: MAKE IT CLEARER THAT THE RESORT MAKES VERY LITTLE OR NO $$ FROM THE RENTAL PROGRAM.}} Once these costs are covered, Everline typically operates the program at a modest profit or a loss, depending on the season. In fact, the resort has consistently absorbed losses in areas such as the golf course and other amenities, and nearly all program profits over the past decade have been reinvested in the property. The goal is not to maximize margin; it’s to maintain long-term performance and quality for everyone. This structure is standard in full-service condo-hotels. Unlike Airbnb or Vacasa, Everline offers true hospitality: 24/7 check-in, concierge, daily cleaning, and on-site support for guests and owners alike. The split reflects the higher level of service and consistency that’s expected from a Four Diamond destination.

A: Inconsistent units, especially those rented independently, can dilute the Everline brand and create confusion for guests. If someone books “Everline” on Airbnb but ends up in a unit with different furniture, amenities, or cleanliness standards, they often leave poor reviews that affect the entire resort’s reputation. As well, units that rent through platforms like AirBNB and Vacasa, benefit from our investments in marketing and the Everline Brand without contributing to these efforts.

Our ability to market Everline as a luxury four-diamond resort relies on consistency. The more units enrolled in the rental program and the greater the uniformity across all guest rooms, the stronger the brand becomes.

{{NEED UPDATED INFO FROM TIFFANY ON HOW THIS WORKS TO REVISE}}

A: The rental program uses a rotation system based on a points model to help ensure fairness and balanced usage across all participating units. Here’s how it works:

• Each unit accumulates points based on two main factors:

• Rental nights (how often the unit has been rented to guests)

• Owner stays (when the owner uses the unit themselves)

• When a reservation is made, the system filters all available units that meet the guest’s needs (such as room type, dates, and any specific preferences).
• Among the eligible units, the system then ranks them by point total, with the lowest-point unit placed at the top of the queue. This means units that have been used less recently are more likely to be rented next, helping to maintain equitable distribution over time.
• The exact point calculation formula is managed in the reservation software and isn’t accessible to staff, but the priority logic is consistently followed.

This system ensures that no single unit is favored and that usage is shared fairly among participating owners, while still meeting guest requirements.

The AAA Four Diamond designation is one of the most respected independent standards in the hospitality industry. Think of it as the hotel world’s version of a Michelin Guide, a rigorous, objective review process that assesses service, design, amenities, and consistency across the entire guest experience.

Unlike online star ratings (which are often based on guest reviews or subjective impressions), the AAA Diamond program uses trained, anonymous inspectors who apply consistent criteria across thousands of properties in North America.

To qualify for Four Diamond status, a property must demonstrate:

• Refined, stylish accommodations
• High-quality finishes and attention to detail
• A strong sense of place and design cohesion
• A broad range of guest services delivered with professionalism and hospitality

For guests, Four Diamond means they can expect a premium stay with elevated amenities, thoughtful design, and dependable service. Many business travelers and group booking agencies filter for Four Diamond properties exclusively, and luxury travelers recognize and trust the designation.

For owners, Four Diamond status brings:

• Higher visibility in global travel networks (especially through World of Hyatt)
• Access to group bookings and corporate travel that require a 4-Diamond minimum
• Increased Average Daily Rate (ADR) and occupancy, especially during shoulder seasons
• A stronger brand and asset value

Everline held Four Diamond status in the past but lost it due to the outdated condition of the guest rooms. This renovation, along with recent resort-wide upgrades, is designed to restore that status and the competitive edge it brings.

{{ADD NOTE and link TO CHECK PORTAL FOR MORE INFO on AAA and Four Diamond Status}}

A: YES! Nicole Gorman, Everline’s Resort Manager, personally hosted the AAA inspector for the model unit walkthrough and has led extensive behind-the-scenes preparation. She has conducted in-depth research into AAA’s evolving standards and collaborated closely with both AAA and our interior design partners at Looney & Associates. The goal: to ensure that every element of the renovation aligns precisely with the Four Diamond criteria.

This is not a check-the-box exercise; it reflects our deliberate and strategic effort to elevate the guest experience and protect long-term value for every owner.

After touring the model unit, the AAA inspector confirmed that, once the renovation is finished, the guest rooms will meet the standards needed to requalify Everline Resort for Four Diamond status.

This designation is more than symbolic. AAA Four Diamond is one of the most respected hospitality standards in North America, comparable to the Michelin Guide for dining, and it requires excellence in design, cleanliness, amenities, and consistent service. Regaining this status increases Everline’s appeal to luxury leisure travelers, corporate groups, and discerning guests who expect a premium experience.

A: No. AAA only inspects rooms that are part of the official Rental Management Program. However, guest perception doesn’t stop at inspections. A poor stay in a non-renovated, independently listed unit can still result in negative reviews that affect the resort’s reputation. That’s why maintaining consistent quality across as many rooms as possible is so important; it protects the brand and supports overall value for everyone.

A: They cause confusion and disappointment. Guests booking “Everline” expect a premium resort experience. When those expectations aren't met because of outdated furnishings or inconsistent service, such as housekeeping, towel, and linen access, it often results in negative reviews and lower guest satisfaction scores. Even if the unit isn’t part of the resort’s official rental program, the damage impacts the brand overall.

A: There have been major recent investments in service training, menu development, and guest experience initiatives. For example:

• Six Peaks Grille has been redesigned and elevated to award-winning status.
• Guest services staff have undergone AAA and Forbes training.
• Sandy’s Café will see a full menu refresh in early 2026.
• Guest touchpoints, including the front desk, valet, and concierge, are being redesigned to provide a seamless, four-diamond experience.

This is a long-term, ongoing effort, and the renovated rooms are a key piece of the overall strategy.

A: While we don’t aim to copy other properties, we do benchmark against them. The goal is to surpass guest expectations by offering a unique, elevated experience rooted in the resort's location, natural beauty, and legacy, supported by Four Diamond accommodations, premium service, and strong amenities. With consistency across rooms, high guest satisfaction, and strong brand alignment, Everline can compete confidently with the best in the region.

A: Everline’s mission is to deliver a high-quality, consistent guest experience that honors the natural beauty and legacy of Lake Tahoe while meeting the expectations of today’s luxury traveler. A key part of that mission is restoring and maintaining AAA Four Diamond status, not simply for prestige, but as a strategic cornerstone of the resort’s future.

Several years ago, the Everline brand and visual identity were created as part of a broader transformation that aligned with the region’s shift in identity. As the ski mountain reintroduced itself as Palisades Tahoe and moved away from its legacy naming, the resort followed suit, adopting the Everline Resort & Spa name and a new brand identity that reflects elevated design, inclusivity, and environmental consciousness.

This renovation is the culmination of that vision. It aligns the guest rooms’ interiors with Everline’s updated look, feel, and service promise, creating the kind of modern, cohesive experience that both leisure travelers and group organizers now expect.

The Four Diamond standard is the objective benchmark used across the hospitality industry to assess that level of quality. Achieving it opens the door to premium visibility, stronger group bookings, and higher occupancy and rates, especially in competitive mountain resort markets. Simply put: when the resort thrives, owners benefit.

A: Current Rental Management Program Participants just need to sign the Renovation Addendum. Owners who are new to the Rental Management Program will also need to sign a Rental Management Agreement. These documents outline the terms of participation, cost, scope of work, and the commitment period. The addendum is on the Hub. If you have any questions or need more information, please reach out to Janet Krautstrunk at jkrautstrunk@everlineresort.com , and she’ll assist you directly.

A: For any questions about pricing, unit-specific estimates, or legal documents, please contact Janet Krautstrunk at jkrautstrunk@everlineresort.com. She’s the main point of contact for all renovation and rental program participation logistics and can walk you through anything you need.

A: Yes. We’re committed to open communication. Additional town halls, both virtual and in-person, will be scheduled as we move through the renovation timeline and decision windows. We also welcome questions anytime by email. If a recurring theme or area of concern emerges, we’ll address it proactively in future updates.

A: Owner feedback has already led to meaningful changes. For example:

• Closet doors were adjusted to address layout issues noted by the owners.
• Microwave and appliance specs are being refined based on functionality requests.
• Finishes, fixtures, and lighting are all being reviewed through the lens of feedback received during the open house and tours.

One of the reasons we built the model so early was to refine and finalize the design and identify potential cost savings within the existing design. Feedback from owners, the Architectural Review Committee, and our design team is being incorporated as we move through this process.

A: The resort’s financial data comes from a combination of sources:

• Moss Adams (https://www.mossadams.com/), a respected third-party accounting firm, audits Everline’s annual financial statements.
• The HOA also has its own independent auditors

The resulting documents ensure accuracy, transparency, and consistency across all financial communications and reporting. If you’d like more details about where a specific number comes from, please let us know.