Holiday Island Holdings, Inc. Announces Lake Texana RV Park Is Under a Purchase Contract for $1.1 Million

Rhea-AI Summary

Holiday Island Holdings (OTC PINK: HIHI) has signed a $500,000 purchase contract to acquire a partially developed lakeside RV park in Jackson County, Texas. The project will require an additional $600,000 in development costs, totaling $1.1 million. The RV park is strategically located near Lake Texana and the new Interstate-69 highway, amidst significant industrial activities. This marks the company's first venture into the recreational/remote living sector, branded as 'HIHI Lake Texana Retreat'. Two additional acquisition prospects are also being evaluated.

Positive

• Acquisition of lakeside RV park enhances portfolio.
• Strategically located near industrial areas and highways.
• Potential for immediate revenue generation with existing RV sites.

Negative

• Total investment of $1.1 million raises capital concerns.
• Dependence on successful financing for additional acquisitions.

HOLIDAY ISLAND, AR / ACCESSWIRE / May 6, 2021 / Holiday Island Holdings, Inc. (OTC PINK:HIHI) operating in the recreational and remote living real estate market in the geographic markets of Texas, Arkansas, Oklahoma, Missouri, and Louisiana, .announced today that the Company has signed a purchase contract to acquire a partially developed lakeside RV park in Jackson County, Texas, in proximity to Lake Texana and the new Interstate-69 highway (connecting Houston to Corpus Christi and to the Rio Grande Valley).

The park is also within the highly-touted Texas "Coastal Industrial" area as nearby are a major Alcoa processing plant, a major Formosa Plastics plant, and several other major manufacturing/processing plants, most who need access to Texas' coastal shipping outlets.

The acquisition price is $500,000 with development cost of $600,000 for a total cost of $1,100,000.

Thompson added: "This is a significant opportunity as the 25-acre property is now partially developed with a few RV sites, allowing us to add new RV spaces and rental units to our design and specifications. We have immediate access into Lake Texana, and we have a two-acre pond which we will incorporate into our design as an amenity. At this time, this will be our first recreational/remote living project, and we will operate it as "HIHI Lake Texana Retreat".

"We are working on two other acquisitions prospects (one in Houston and one north of Houston), and they are being presented to our investor groups for acquisition and growth financing. We expect our initial due diligence to be completed within 30 days."

Forward-Looking Statements Disclaimer:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.

Gene Thompson, CEO & Chairman

Phone: (479) 244-6047
Email: sgenethompson@gmail.com
Website: www.holidayislandholdings.com

SOURCE: Holiday Island Holdings, Inc.

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FAQ

What is Holiday Island Holdings' latest acquisition?

Holiday Island Holdings has signed a contract to acquire a lakeside RV park in Jackson County, Texas for $500,000.

What is the total cost of the lakeside RV park project?

The total cost of the lakeside RV park project is $1.1 million, including $500,000 for acquisition and $600,000 for development.

Where is the lakeside RV park located?

The RV park is located in Jackson County, Texas, near Lake Texana and Interstate-69.

What is the expected brand name for the new RV park?

The new RV park will be branded as 'HIHI Lake Texana Retreat'.

Are there any other acquisition plans for Holiday Island Holdings?

Yes, Holiday Island Holdings is exploring two additional acquisitions, one in Houston and one north of Houston.