Silverleaf Resorts (AMEX:SVL)
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Silverleaf Resorts, Inc. (AMEX:SVL) today announced the
acquisition of Pinnacle Lodge, (http://www.pinnaclelodge.com) a
64-room hotel located in the Winter Park area of Colorado for
approximately $3.6 million. The property will continue to be operated
as a hotel as well as a destination for current Silverleaf members
while the Company assesses the possibility of other acquisitions in
Winter Park.
The Pinnacle Lodge joins Silverleaf's growing list of vacation
properties in destination areas. The purchase of the Pinnacle Lodge is
a strategic acquisition by Silverleaf as it is focused on providing
its members with quality accommodations at affordable prices in some
of the finest vacation destinations in the country. Only a few miles
from the famed Winter Park and Mary Jane ski resorts, Pinnacle Lodge
guests are surrounded by a year-round, high country playground that is
unmatched in natural splendor.
"Colorado has always been a popular vacation destination for
Silverleaf's members," said Sharon K. Brayfield, president of
Silverleaf. "With Intrawest and Orvis' recent involvement in this
popular area, we expect Winter Park to gain in national recognition as
a destination." Our members can enjoy access to year-round outdoor
activities, including major ski resorts, golf courses, fishing, and
hiking. Located within a 1.5 hour drive of Denver this property
provides us with an affordable and easily accessible entry point into
an increasingly popular destination."
Based in Dallas, Texas, Silverleaf Resorts, Inc. currently owns
and operates timeshare resorts with a wide array of country club-like
amenities, such as golf, clubhouses, swimming, tennis, boating, and
many organized activities for children and adults. For additional
information, please visit www.silverleafresorts.com.
This release contains certain forward-looking statements that
involve risks and uncertainties and actual results may differ
materially from those anticipated. The Company is subject to specific
risks associated with the timeshare industry, the regulatory
environment, and various economic factors. These risks and others are
more fully discussed under the heading "Risk Factors" in the Company's
reports filed with the Securities and Exchange Commission, including
the Company's 2005 Annual Report on Form 10-K (pages 22 through 30
thereof) filed on March 17, 2006.
For more information or to visit our website, click here:
http://www.b2i.us/irpass.asp?BzID=1358&Nav=0&S=0&L=1.