Monaco Developing Two New Resorts
Answering a need for more high-end U.S. resorts, Monaco Coach Corp. plans to develop two upscale RV properties in California and Florida in 2008. Construction is slated for the first half of next year on a 350- to 400-site RV resort in La Quinta, Calif., near Palm Springs, according to Charlie Kimball, corporate controller and vice president of business development and planning for the Coburg, Ore.-based firm.
The La Quinta property will include water features as well as par three and par four executive golf courses. Prices for individual RV lots have not yet been determined, but would probably be in the $150,000 to $250,000 range, Kimball said. The lots, some of which may include casitas (small buildings) for storage and entertainment purposes, could be up for sale by late next year.
Monaco is also developing a 200-site RV resort in Naples, Fla., which may have lots available for purchase by the second quarter of 2008 with lot prices starting at $200,000 to $250,000, Kimball said. He added that detailed information regarding both projects will be announced at the National RV Trade Show in Louisville, Ky.
Kimball said Monaco is developing the Florida and California resorts to address a shortfall in upscale RV resorts across the country. “Every year our industry puts out thousands of high-end motorhomes,” he said. “And many of these RVers would like someplace else to go rather than a KOA campground or a traditional campground. We think there’s a real need for (upscale RV resorts) out there.”
Monaco, meanwhile, is encountering legal trouble with three other resorts that it jointly developed and financed with Bermuda Dunes, Calif.-based Outdoor Resorts of America. Outdoor Resorts filed suit earlier this year alleging that Monaco owes the company more than $4 million in profits from Outdoor Resorts parks in Indio, Calif. and Las Vegas, Nev. as well as a Naples, resort that was subsequently sold to a third party, according to the Register-Guard, Eugene, Ore.
The newspaper reported that Monaco told Outdoor Resorts in a January 2007 letter that it owed only $1.5 million from those resorts. Outdoor Resorts rejected that offer and alleged that Monaco marked up expenses associated with the resorts and failed to pay its fair share of the proceeds from the sale of the Naples property.
In addition to demanding payment of past profits, Outdoor Resorts has asked a Lane County Circuit Court judge to order a full accounting of the Outdoor Resorts transactions and for reimbursement of its attorneys’ fees.
Monaco spokesmen declined comment because the matter is in litigation.