Posts Tagged ‘RV sales’

If you’re in the market for an RV resort and conference center with a 19 room hotel, you’re in luck. The Riverbend RV resort in Harrisburg about to go up for auction. After the original owners went bankrupt, Citizens Bank took over the resort early this year.

Now the 14 acre RV destination is on the auction block. Riverbend RV park first broke ground in 2004, when RV sales were strong. They set up shop by major RV manufacturers in Junction City and Harrisburg.

The idea was to siphon business from RV owners in town for repairs or upgrades. Resort managers say when it was opened in 2009 RV sales had dipped, and the resort’s guests had gone with it.

As the asset holder, the bank will put up a starting bid of nearly 3 million dollars. The resort was said to have cost around 5.3 million when it opened. Hubel would like to see the resort go back into private ownership, but don’t break out the checkbook just yet. The winning bid in the auction has to be paid that day in full. That mean you’ll have to have at least a cool few million in your account to buy the property outright.

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SOUTH BEND — Volatile gasoline prices could hamper the recreational vehicle industry’s attempts to recover from a deep downturn caused by the recession because sales of the big ticket items are so dependent on consumer confidence, industry executives and analysts say.

“High fuel prices and rapid fluctuation of fuel prices are not good for consumer confidence,” said Mark Bowersox, Recreation Vehicle Indiana Council executive director. “When you see fuel go up 10 or 15 cents a week or 50 cents in six weeks, that’s a concern.”

Morningstar analyst David Whiston, who focuses on Winnebago, said uncertainty in fuel costs, not the actual cost, is the biggest concern.

“I think it’s more the volatility that would cause consumers to stay out of the showroom than the level itself,” he said.

He points to the fact that high gas prices don’t keep people from buying RVs in Europe, where gas prices are higher.

Phil Ingrassia, vice president for communications for the RV Dealers Association, said it’s too early to say whether gas prices will have an impact on RV sales because it’s impossible to predict how long gas prices will stay erratic. He said he isn’t aware of any change in the forecast in RV sales, but said stability would help.

“When people feel secure about their jobs that bodes well. As the economy improves, so do RV sales,” he said.

Bowersox said because recreational vehicles are a discretionary purchase, people look for stability before making such a large purchase. He said gas prices are more likely to change how people use their RVs.

“People might take fewer trips or stay closer to home, but the demand is still there for the product and they will adjust,” he said. “If gas prices stabilize, the market should look real good into April, May and June. If they bounce around like a yo-yo, then that’s a cause for concern going forward.”

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