EFTA00773808.pdf

From: "Gamer, Charles" To: Jeevacation <jeevacation®gmail.com> Cc: "Farkas, Andrew L." , "Garrison, Frank" "Kaplan, Daniel" <MMIll >, "Krohn, Joseph" Subject: AYH/YHG Information Date: Wed, 19 Aug 2009 01:29:55 +0000 Attachments: YHG_AYH_-_CG_081809_v2.xls; Detail_for_YHG_&_AYHn fuel_and_util.xls Inline-Images: image001.gif Further to our call yesterday. I have attached the following information that you requested: A. You had requested the data contained on the "Information Sheets" with respect to Utilities and Fuel. That data is attached in the file labeled "Detail for YHG & AYH — fuel and util.xls". B. You had requested that we provide a cleaned-up version of the Income Statement. Although (as discussed yesterday) a computer glitch in the marina booking and management software at AYH makes the precise breakdown between the different berthing plans inaccurate and it is requires a time-consuming, manual process to provide a fully accurate breakdown, the attached sheet ("YHG AYH — CG 081809v2.xls") should provide greater clarity. I note that the computer glitch affects the charting of revenues among the specific line items of dockage revenues, but does not affect the total. We are in the process of upgrading the system and the upgrade is expected to correct this problem. C. Variance in Professional Fees at YHG: YHG incurred $1.17 million of professional fees (i.e., legal and financial advisory fees to the Borrower and the Lenders) relating to the restructuring D. Month-to-Date Performance: You had requested that we provide month-do-date performance for AYH and YHG. We generate a daily executive report which provides a "dashboard" view of performance for each property. For YHG and AYH, the performance through yesterday was as follows: EFTA00773808  AYH YHG MID Average Bath Occupancy (IL) 81.39 22.67 MID Percent of LF Occupied (%) 84.28 11.53 Prenous Yr Percent ofIF Occupied (%) 83.04 11.76 MID Discounts (5) 5 19,605.40 MID Actual Sip Re/cane (5) 152,709.71 42A59.15 MID Budgeted Sip Revenue (5) 90,678.51 18499.23 Variance from MID Budget (5) 62,03120 23,959.92 Previous Yr MID Actual Sip Revenue (5) 143,313.78 5 24.546.19 Ful Month Budgeted Shp Revenue (5) 165,355 00 5 33.734 00 MID UhTiies Net Amami (5) 13,306.04 14,890 40 MID Budgeted Duly Revenue (5) 36,623.95 37,741 02 Variance from MID Budget - Uhities (5) (23,317.91) 5(22.850 62) Mites Net Amount Previnis Yr (5) 31,84148 15,352 27 Ful Month Budgeted Baty Revenue (5) 66,785.00 68,822 00 MID Fuel Net Amount (5) 5 247,12142 5 60,135.72 MID Budgeted Fuel Revenue (5) 5204,725.06 28460.21 Variance from MID Budget - Fuel (5) 5 42,39636 31,675.51 Fuel Net Amowit Previous Yr. (5) 348,621.80 44,397.54 Ful Month Budgeted Fuel Revenue (5) 373,322.00 51,898.00 Dan Kaplan also provided tax reconciliation information to Harry Beller earlier today. Harry came back with a few questions following his review of those materials and Dan is going to be working with him tomorrow to resolve those final questions. Please let me know if we have missed anything that you wanted or if you have questions about these materials. Best regards. -Charles Charles H. F. Garner President Island Global Yachting 717 Fifth Avenue - 18th Floor New York. New York 10022 T: F: E: www.igymarilas.com EFTA00773809 Please consider the environment before you print this email. EFTA00773810