Great American Recreation, Inc., through its wholly owned subsidiaries owns and operates a Summer Action Park and a Winter recreational ski area located in Vernon Valley, Northern New Jersey. Great American Boxing, Inc., manages and trains professional boxers in return for an interest in their gross fees, honoraria, and other compensation. The Resort Club, Inc. is in the preliminary stages of developing a 1,000 site campground and related facility above the Company's ski area. The Company through its wholly owned subsidiary, Stone Hill of Vernon, began placing greater emphasis on its real estate development activities and is now developing condominiums, health clubs and spas on its properties adjacent to Action Park and ski areas. Admission fees accounted for 49% of fiscal 1994 revenues; food and beverages, 17% and other 34%.