Holiday Island, Arkansas–(Newsfile Corp. – October 26, 2020) – Holiday Island Holdings, Inc. (OTC PINK: HIHI) – operating in the recreational and remote living real estate market – released the news today that it is planning to enter into a joint venture arrangement to acquire and operate an existing RV park near the Dallas/Ft. Worth MetroPlex. The acquisition price for the park is $1.3 million.
The preliminary agreement calls for HIHI to lease and manage the property from the joint venture partner and retain all revenues and profit. Currently the property is generating approximately $90,000 in annual EBITDA. The park and its amenities can, and are planned to be enhanced and expanded, and the profits thereby improved.
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Gene Thompson – CEO and Chief Strategist of Holiday Island Holdings said, “We are excited about reaching this phase on this park with the expectation of closing in mid-December.”
He further stated: “Our primary focus is to locate opportunities that are now operating in an earnings mode, which may be underperforming, and therefore undervalued. Our management team is experienced in locating, acquiring, enhancing, and remediating these situations, and they expect to increase their profitability accordingly. While we are seeking existing operational properties, we will also consider those that have physical facilities in place, but are not currently operational, and in fact, we are sharply focused on two of those prospects at this time. We will keep you apprised of our progress.”
We are also seeking suitable funding to become a significant player in our chosen geographic real estate segments. We are currently evaluating numerous prospective recreational and remote-living opportunities, and we will report these to shareholders and the investment community as they materialize.
Holiday Island Holdings, Inc. will keep both its shareholders and public completely informed of the entire process as the details continue to develop. Please watch for press releases about the Company’s progress. For additional information, please visit the Company’s website at www.holidayislandholdings.com.
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