Update (January 16th 2024)

Dear Owners,

Mutlu Yeni Yillar – we take this opportunity to wish all Owners and those who live in Holiday Village a very happy and peaceful 2024 and we look forward to seeing you enjoying our Complex at some point during 2024!

Latest News:

1. Work is already continuing in the Complex to make sure that it is looking its best for the season and year ahead. Maintenance work has already started on the big pool and other work on the communal toilet areas etc will commence soon as agreed at the AGM in May.
    
2. It remains a great challenge to make reasonable future financial predictions, given the continued volatility of the Turkish economic situation. Inflation remains at extraordinary levels and the exchange rates between other currencies and the Turkish Lira have not matched this, which adds a strain on our budget. For example, the salaries of the workers at Holiday Village have had significant increases a number of times over the past year by order of the Turkish Government, with another 50% in salaries announced by the government for this month. Other necessary complex costs have also been subject to significant increases due to the inflation rate. To put this into context, it represents an increase of 20000 Euro in extra costs caused by inflation for personnel and pool costs alone. In addition to this insurance costs for the complex have risen from 4300 Euro to 8000 Euro most recently, with further significant increases expected. Unexpected costs to repair the elevators were in the region of 16000 Euro in 2023 alone. The Manager and Board continue to do our very best to ensure that our finances are spent in the most prudent manner and will continue to explore areas where efficiencies can be made. However, as you can understand, we will need to insulate ourselves against further financial volatility and protect our Complex in the medium and long term to ensure that we remain financially sound and are equipped to deal with any unexpected costs that will come our way. So, it will be necessary to review our finances in 2024.
    
3. Thank you to those Owners who have already paid their fee for this year - a reminder to those who have not yet paid their fee for 2023 - there are still quite a number of owners who have yet to pay this: Login to see the fees for 2023.
    
4. The new and more interactive website/ application is nearing completion and will be ready for use in the very near future.
    
5. The 2024 AGM will be held on Monday May 27th and all Owners are encouraged to attend if possible.
    
6. Many thanks for your continued support of the Manager and Board and we are hopeful that this will continue into 2024.

Yours,

The Manager and Board of Holiday Village