February 1, 2012
 
Dear Las Campanas Member:
 
When the Club at Las Campanas transitioned to member-owner status, we instituted the Step-Down Program, which allowed for Las Campanas members to change their membership category.
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Absolutely amazing – rates in almost every category dropped to record lows !!  The Euro-zone activities are pushing rates to the lowest that the U.S. has ever seen.
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