Based on our ongoing initial assessments, certain properties were impacted by flooding, wind, wind-blown debris, fallen trees, and tree limbs. Structural damage to common areas appears to be limited. We have seen damage to some homes, garages, screen rooms and awnings. Our team members and outside contractors have begun cleanup efforts at many of the impacted properties and we are working to quickly return our properties to full operational condition. Certain properties continue to experience utility interruptions.
We are in the process of estimating the costs associated with the cleanup and restoration efforts. We believe we have adequate insurance, subject to deductibles, including business interruption coverage. At this time, we do not believe that Hurricane Milton will significantly impact our results of operations or financial condition on a consolidated basis.
President and CEO
This press release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. When used, words such as “anticipate,” “expect,” “believe,” “project,” “estimate “, “guidance”, “intends”, “may” and “will” and similar words or phrases, or the negative thereof, unless the context otherwise requires, are intended to identify forward-looking statements and may include, but are not limited to, information regarding our expectations, goals or intentions regarding the future, and the expected effect of our acquisitions. Forward-looking statements, by their nature, involve estimates, projections, objectives, forecasts and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in a forward-looking statement due to a number of factors, including, but not limited to, the following: (i) the mix of use of the site within the portfolio; (ii) performance management at our tourism sites and marinas in the short term; (iii) rate increases scheduled or implemented in community, tourist and sports sites; (iv) scheduled or implemented fee increases in annual membership subscription payments; (v) changes in occupation; (vi) our ability to attract and retain member customers; (vii) change in customer demand with respect to travel and outdoor vacation destinations; (viii) our ability to manage expenses in an inflationary environment; (ix) changes in debt service and interest rates; (x) our ability to integrate and operate recent acquisitions in accordance with our estimates; (xi) our ability to execute expansion/development opportunities in the face of changes that impact the supply chain or labor markets; (xii) completion of pending transactions in full and on schedule; (xiii) our ability to attract and retain property employees, particularly seasonal employees; (xiv) ongoing legal matters and related fees; (xv) costs to restore property operations and potential loss of revenue following storms or other unplanned events; and (xvi) the potential impact and our ability to remediate material weaknesses in our internal control over financial reporting.
For more information about these and other factors that could affect us and the statements contained herein, please review our filings with the Securities and Exchange Commission, including the “Risk Factors” and “Forward-Looking Statements” sections in our most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q.
These forward-looking statements are based on management’s current expectations and beliefs about future events. As with any projections or forecasts, these statements are inherently susceptible to uncertainty and changes in circumstances. We are under no obligation and expressly disclaim any obligation to update or alter our forward-looking statements, whether as a result of such changes, new information, subsequent events or otherwise.
We are fully integrated owners of lifestyle-oriented properties and own or have interests in 452 properties located predominantly in