Silverleaf Resorts buys land near Branson to expand its golf resort

DALLAS -- Silverleaf Resorts, Inc. (AMEX:SVL) has acquired 81 acres of undeveloped land adjacent to one of its existing destination resorts, the Holiday Hills Resort, near Branson, Mo., company officials have announced.

The newly acquired tract, purchased for about $1 million, can accommodate up to 456 new timeshare units and related amenities, including a proposed nine-hole par 3 golf course expansion to the existing 19-hole championship course. There are currently 422 timeshare units at Holiday Hills Resort.

Development of the property is subject to Silverleaf receiving all state and local governmental approvals necessary for timeshare operations, officials said. Extensive additional planning and pre-development work must be completed before initial capital expenditure projections for the project can be finalized.

"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," said Silverleaf President Sharon K. Brayfield. "Holiday Hills is one of our fastest-growing 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."

Silverleaf Resorts currently owns and operates 13 timeshare resorts in various stages of development. These 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.

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