COBURG, Ore. (AP) - With gas at more than $4 a gallon, will anybody show up at a new multimillion-dollar RV resort? Coburg-based Monaco Coach, a top manufacturer of motor homes, is banking on it.
Monaco recently announced it is forming Signature Resorts to manage and develop the company's RV resorts.
Monaco had developed RV resorts in places such as Indio, Calif. and Las Vegas. Signature Resorts will now act as an offshoot of the 40-year-old RV company.
Monaco's next two developments, in Harbor Bay, Mich. and Naples, Fla., will open under Signature Resorts' branding.
With a tennis court, a putting green, a clubhouse, an outdoor pool and a spa, Harbor Bay will open this summer, followed by the one in Naples.
Monaco hopes the resorts will help improve what has been a tarnished year so far. First-quarter figures show a company hit hard by high gas prices and weakened consumer confidence.
First-quarter revenue for the coach company in 2008 was $252 million compared to $322 million for the first quarter of 2007. Gross profit dropped from $36 million a year ago to $15 million this year. Read more about Monaco Coach...
