“The mission of the Royal Aloha Vacation Club is to be the most desirable member-owned vacation club in the world.”
(RAVC Mission Statement)
The Royal Aloha Vacation Club was founded in Hawaii in September 1977. The Club’s first units were located in Waikiki at the Aloha Towers condominium and Waikiki Skytower; units were later added in Maui and Kona, Hawaii; Lake Tahoe, Nevada; Chandler, Arizona; Branson, Missouri; Otter Rock, Oregon; and Nueva Andalucia, Spain. Today, Royal Aloha Vacation Club has grown to a system of more than 200 condominiums at these nine locations, and all units are owned free and clear.
Currently, Royal Aloha has members residing in all 50 states and 23 foreign countries. Royal Aloha members own a right to use either a one-bedroom or two-bedroom accommodation at any Club location on a first-come, first-served basis. Use rights are not tied to any particular unit, but members own the right to use the Club properties in perpetuity. The corporation holds the legal titles to all real and personal properties.
Members pay an annual maintenance fee set by the board of directors to cover the costs of operating and maintaining the vacation units. The developer sold a few special memberships at a premium for the three-week period during Christmas and New Year’s, but regular members may now use the Special Weeks Period by paying a surcharge in addition to their annual maintenance fee.
Royal Aloha is governed by a board of directors elected by the members. The board consists of two professional directors and five member directors with each elected to serve a three-year term. Member directors can serve for a maximum of two consecutive three-year terms. This allows for an orderly transition of directors and brings new blood to the board.
RAVC board operates through seven committees. The Audit and Finance Committee is responsible for all budget and financial matters, compensation of officers and employees, and interfacing with the audit firm. Bylaws, Rules and Policy Committee annually reviews and coordinates all bylaws, rules and Club policies. The Executive Committee is on call to take action on behalf of the full Board. Information Services Committee is responsible for the storage, use and dissemination of information that is needed to operate the Club safely and efficiently. Member Services Committee periodically reviews all services extended to members, evaluates member requests and concerns, and recommends appropriate action or new services. The Nominating Committee reviews all director candidates who submit resumes to serve on the board. Strategic Planning and Development Committee formulates and monitors the long-range plans of the Club.
Royal Aloha has an ongoing reserve for refurbishment, which is funded by an allocation of members’ annual dues. Since the reserve was established, close to $14 million has been spent to maintain quality standards for all of the Club’s vacation units. Twelve million is projected to be spent over the next ten years (2011-2021).
The board of directors continues to look for alternative revenue sources to generate income in addition to members’ annual dues. The board has adopted policies to allow members the greatest flexibility in utilizing their memberships and continues to work diligently to enhance the ownership value.