Silverleaf Resorts, Inc. (Silverleaf) is engaged in the development, marketing and operation of getaway and destination timeshare resorts. As of December 31, 2008, the Company owned seven getaway resorts in Texas, Missouri, Illinois and Georgia (the Getaway Resorts). It also owns six destination resorts in Texas, Missouri, Massachusetts and Florida (the Destination Resorts). In addition, Silverleaf owns and operates a hotel located near the Winter Park recreational area in Colorado, which provides owners with another destination vacation alternative and gives Silverleaf an entry point into this destination area. The Getaway Resorts are located close to areas where the Company markets its vacation products to facilitate frequent short-stay getaways. The Destination Resorts are located in or near areas with national tourist appeal and offer customers the opportunity to upgrade into a resort area as their lifestyles and travel budgets permit.