BRANSON, Mo. -- Owners of two theaters and a hotel say a projected lakefront development might not have the drawing power its backers intended.

They are concerned that the $300 million Branson Landing development might draw customers away from existing businesses. Two theater owners and a hotelier are urging city officials to be cautious that the planned downtown Branson Landing development doesn't draw customers away from existing businesses.

"The original intent of the project was to bring new visitors to town," theater owner Steve Presley said at a Friday meeting of aldermen. "If that does not happen -- currently, visitors spend an average of 2.7 days, and this project will further divide up their time -- it will take business away from existing businesses."

Presley, theater owner Ann Stafford and hotelier Gail Myer asked city officials to approve an advisory committee of business owners to help ensure that the new development won't hurt existing businesses. After a 90-minute meeting, the three agreed to meet with Branson Landing developer Rick Huffman and report back to city officials.

Today, the Board of Aldermen will hold an informational public meeting on the proposed lease between the city -- which owns the lakefront property -- and HCW Development Co., the developer selected by city officials to head the project.

Attorneys for both entities will be on hand to answer questions about the lease and a development contract.

On Oct. 20, another special meeting will be held and aldermen could vote at that time to approve the lease.

Also at that meeting, Huffman said he will unveil information about some specific tenants for the retail and entertainment project.

Neither the Landing project nor plans for a convention center have been finalized, aldermen reiterated. A feasibility study projecting revenue that will be produced by Branson Landing is expected within a few weeks.

Unless that revenue is ample enough to finance a city-owned convention center, aldermen will not move forward, said Alderman David Edie.

"I do not believe that any member of the council is going to make a decision unless we are assured to a large degree that this project will pay for itself," Edie said.