ARC Resorts’ Daytona Property Rebounds After Hurricane Matthew
After Hurricane Matthew struck Florida with Category 3 winds in October, The Suites at Americano Beach in Daytona Florida was hit by disaster during a renovation project.
In February, ARC Resorts (ARC) acquired the rights to The Americano Beach Lodge Resort Condominium Association Inc. to uniformly redevelop and manage the 198 timeshare units located in Daytona Beach, Florida. Their objective is to redevelop and revitalize the property without burdening the timeshare unit owners with special assessments.
Hurricane Matthew landed six months later, battering the coastline, and causing significant damage. A large portion of Volusia County was left without power for over a week. Many of the hotels and resorts along historic A1A suffered extensive damage.
At The Suites at Americano Beach, the storm surge overwhelmed the Beachside Tiki Bar and the surrounding maintenance area beneath the pool deck. A large portion of the Sea Wall was washed away. The CAT 3 Wind forced significant water intrusion in the units, and compromised the window systems. The wind also compromised all the roofing systems. The resort ran on partial power for several days, which affected several major systems, such as the elevators and the cooling tower.
Prior to the natural disaster however, ARC assessed the newly attained property in a thorough Insurance Review. They were able to upgrade the insurance coverage while lowering annual premiums. One feature in the upgrade was Business Interruption as a line item of additional hazard insurance coverage. This due diligence established security for ARC as an investor and shielded timeshare owners from excessive assessments.
When the state of Florida mandated an evacuation, ARC’s first priority to was to vacate all guests and staff to ensure their safety. Once empty, the ARC Resorts team took preventative measures to secure all aspects of the property most likely to be affected by the storm, which limited some potential damage.
ARC’s post-storm recovery was expedited through their partnership with Belfor Property Restoration, a First Response and Emergency Mitigation company nationwide, plus a team of Engineers, General Contractors and Consultants. After removing standing water in the common areas and the units, treating excessive humidity levels and debris removal, they installed temporary AC systems throughout the lobby and first floor common areas. The swimming pool equipment and control panel, located beneath the pool deck, were severely damaged by the storm surge and required all new wiring and electrical. Despite the damage, the property was able to re-open for guests in less than three weeks.
“While adequate preparation is essential, the focus and organization of the team during the initial recovery efforts was the key to an expeditious and smooth return to normal operations.” Says Greg Mafcher, Director of Resort Operations, Florida, ARC Resorts.
Although there is still damage to restore, unlike many surrounding hotels and resorts, ARC’s timeshare owners were able to occupy the property with comfort in a matter of a few weeks, and is testament to the necessity of expert resort management, who can quickly react to a crisis above and beyond standard preventative procedures.
ARC Resorts is dedicated to developing a large portfolio of resorts and services through acquisitions and affiliations, giving benefits to all parties involved and increasing resort profitability through expert marketing, sales, and rental programs offered.
ARC provides its resort clients with a wide range of fully integrative and supportive services, professional financial planning and restructuring, resort operations staffing and sales and marketing support.
For more information, visit www.arcresorts.com.
