Wednesday, March 01, 2006
Silverleaf Resorts, Inc. Announces Property Acquisition For More Timeshare Property
Silverleaf Resorts, Inc. (AMEX:SVL) today announced that the Company has acquired 81 acres of undeveloped land adjacent to one of its existing destination resorts, Holiday Hills Resort near Branson, Missouri. The newly acquired tract, purchased for approximately $1.0 million, can accommodate up to 456 new timeshare units and related amenities, including a proposed nine hole par three golf course expansion to the existing eighteen hole regulation golf course. There are currently 422 timeshare units at Holiday Hills Timeshare Resort.
Development of the property is subject to Silverleaf receiving all state and local governmental approvals necessary for timeshare operations. Extensive additional planning and pre-development work must be completed before initial capital expenditure projections for the project can be finalized.
Sharon K. Brayfield, President of Silverleaf, commented, "Branson remains a popular destination for all those who love country music and variety shows, in addition to the beauty of the lakes and hills of the Ozark region. Holiday Hills is one of our fastest growing timeshare resorts, so this is a significant opportunity to expand our capacity to provide attractive vacation alternatives to our customers in this key destination vacation market."
The Timeshare Company also announced it will release its 2005 results and provide 2006 guidance on March 7, 2006.
Based in Dallas, Silverleaf Resorts, Inc. currently owns and operates 13 timeshare resorts in various stages of development. Silverleaf Resorts offer a wide array of country club-like amenities, such as golf, swimming, horseback riding, boating, and many organized activities for children and adults.
Development of the property is subject to Silverleaf receiving all state and local governmental approvals necessary for timeshare operations. Extensive additional planning and pre-development work must be completed before initial capital expenditure projections for the project can be finalized.
Sharon K. Brayfield, President of Silverleaf, commented, "Branson remains a popular destination for all those who love country music and variety shows, in addition to the beauty of the lakes and hills of the Ozark region. Holiday Hills is one of our fastest growing timeshare resorts, so this is a significant opportunity to expand our capacity to provide attractive vacation alternatives to our customers in this key destination vacation market."
The Timeshare Company also announced it will release its 2005 results and provide 2006 guidance on March 7, 2006.
Based in Dallas, Silverleaf Resorts, Inc. currently owns and operates 13 timeshare resorts in various stages of development. Silverleaf Resorts offer a wide array of country club-like amenities, such as golf, swimming, horseback riding, boating, and many organized activities for children and adults.
# posted by John @ 1:34 PM 
