Fleetwood Enterprises, Inc. to Break New Ground With Launch of Fleetwood Vacation Club in Spring 2005
17 Janeiro 2005 - 8:00AM
PR Newswire (US)
Fleetwood Enterprises, Inc. to Break New Ground With Launch of
Fleetwood Vacation Club in Spring 2005 Vacation Ownership Program
Will Be an RV Industry First RIVERSIDE, Calif., Jan. 17
/PRNewswire-FirstCall/ -- Fleetwood Enterprises, Inc. (NYSE:FLE), a
leading manufacturer of recreational vehicles and a leading
producer and retailer of manufactured housing, announced today its
plans for a spring 2005 consumer launch of Fleetwood Vacation Club,
the RV industry's first-ever national motor home shared-ownership
program. Fleetwood Vacation Club (FVC) will be a points-based
membership program that will provide its members numerous benefits,
including access to Class A diesel motor homes, such as Discovery,
and Class C gas-powered motor homes, such as Tioga, from
participating Fleetwood franchise locations. These motor homes will
be fully appointed and will be owned by Fleetwood Vacation Club.
Members will have the right to use these motor homes for periods
ranging from one week per year to several weeks per year, over a
10-year period. One of the benefits Fleetwood Vacation Club
features is an exclusive affiliation agreement with RCI, the global
leader in vacation exchange. RCI will support Fleetwood Vacation
Club with RCI(R) Points, enabling FVC members to exchange their FVC
points for vacations at resorts within RCI's global network. In
addition, Fleetwood Vacation Club members can use their points to
obtain a wide variety of other travel products, including airfare,
car rental, hotel stays, cruises, golf outings and tickets to theme
parks. FVC has been awarded RCI Gold Crown status, an award earned
by a select number of RCI affiliates that have achieved excellence
in quality, amenities and service standards. "Fleetwood is
recognized as an RV industry innovator and the upcoming launch of
Fleetwood Vacation Club is yet another example of our drive to
expand the reach of RVing to broader audiences through new products
and programs," said Ed Caudill, president and chief executive
officer of Fleetwood Enterprises, Inc. "Fleetwood Vacation Club
will open the doors to the RV lifestyle to a whole new group of
consumers," said Chris Braun, executive vice president of Fleetwood
RV. "More people will be able to experience and enjoy the RV
lifestyle in a flexible way that fits their schedule, lifestyle and
budget." Michael J. Puntoriero, who joined Fleetwood Enterprises in
May 2004, will head Fleetwood Vacation Club as president.
Puntoriero, formerly a managing partner with Arthur Andersen, is
working with a management team that blends Fleetwood veterans with
industry experts in timeshare and franchising. "This is truly an
exciting time for Fleetwood," said Puntoriero. "Dealers will have
the opportunity to participate in a true franchise that we believe
will help drive their enterprise value. "The popularity of RVing
has never been greater," added Puntoriero. "Our franchisees will be
able to provide all the freedom of RVing and all the quality of our
premium products to a much broader consumer audience. It's about
having a great vacation experience in the comfort of our luxurious
products -- at a price within reach of families, couples, and
anyone with a taste for adventure." Specific details on FVC
locations, membership levels and costs will be released closer to
the opening of membership sales in spring 2005. Further information
on Fleetwood Vacation Club is available at
http://www.fleetwoodvacationclub.com/. About RCI: RCI is a global
provider of leisure travel services to businesses and consumers,
and the worldwide leader in vacation exchange. As a growth partner
to its business clients, RCI leverages core competencies in
exchange/barter networks, business partnering and travel currency
arbitrage to build membership in travel and unlock the value of
leisure assets in vacation ownership, real estate, hospitality,
travel and tourism, and with affinities. RCI is a subsidiary of
Cendant Corp., a provider of travel and real estate services. About
Fleetwood Enterprises, Inc. Fleetwood Enterprises, Inc. is one of
the nation's largest producers of recreational vehicles, from motor
homes to travel and folding trailers, and is a leader in the
building, retailing and financing of manufactured homes. This
Fortune 1000 company, headquartered in Riverside, Calif., is
dedicated to providing quality, innovative products that offer
exceptional value to its customers. Fleetwood operates facilities
strategically located throughout the nation, including recreational
vehicle and manufactured housing plants, retail home centers, and
supply subsidiary plants. For more information, visit the Company's
website at http://www.fleetwood.com/. This press release contains
certain forward-looking statements and information based on the
beliefs of Fleetwood's management as well as assumptions made by,
and information currently available to, Fleetwood's management.
Such statements reflect the current views of Fleetwood with respect
to future events and are subject to certain risks, uncertainties,
and assumptions, including risk factors identified in Fleetwood's
10-K and other SEC filings. These risks and uncertainties include,
without limitation, the cyclical nature of both the manufactured
housing and recreational vehicle industries; ongoing weakness in
the manufactured housing market; continued acceptance of the
Company's products; the potential impact on demand for Fleetwood's
products as a result of changes in consumer confidence levels; the
effect of global tensions on consumer confidence; expenses and
uncertainties associated with the introduction and manufacturing of
new products; the risks inherent in starting a new venture, which
may or may not be successful; the future availability of
manufactured housing retail financing, as well as housing and RV
wholesale financing; exposure to interest rate and market changes
affecting certain of the Company's assets and liabilities;
availability and pricing of raw materials; changes in retail
inventory levels in the manufactured housing and recreational
vehicle industries; competitive pricing pressures; the ability to
attract and retain quality dealers, executive officers and other
personnel; and the Company's ability to obtain financing needed in
order to execute its business strategies. For further information,
please contact Heather Everett, +1-650-286-7316, , or Chad Darwin,
+1-818-206-8305, , both for Fleetwood Enterprises, Inc. DATASOURCE:
Fleetwood Enterprises, Inc. CONTACT: Heather Everett,
+1-650-286-7316, , or Chad Darwin, +1-818-206-8305, , both for
Fleetwood Enterprises, Inc. Web site:
http://www.fleetwoodvacationclub.com/ Web site:
http://www.fleetwood.com/
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