ILX RESORTS INCORPORATED (AMEX:ILX) a leading developer, operator and marketer of upscale flexible-stay vacation ownership resorts in the Western United States, announced today that it has received board approval to repurchase an additional 500,000 shares of its common stock, from time to time, in open market transactions depending on price, availability, market conditions and other factors. Such re-purchased shares of common stock will be made directly by the Company and become treasury shares of the Company, and/or by the Company`s Employee Stock Ownership Plan.
ILX Resorts Incorporated develops, operates and markets upscale vacation ownership resorts. The Company`s current portfolio of resorts consists of six resorts in Arizona, one in Indiana, one in Colorado, one in San Carlos, Mexico, and land adjacent to an existing resort in northern Arizona for which the Company holds development rights. The Company markets its vacation ownership interests primarily through its Premiere Vacation Club. Internet users can visit the ILX Resorts Incorporated web site at http://www.ilxresorts.com.