Tourism Holdings Ltd. records $30m annual profit

Published on : Wednesday, August 23, 2017

Tourism Holdings LtdBooming motorhome rentals at home and overseas have led to Tourism Holdings Ltd.’s record $30m annual profit. The company reported revenue of $341m for this year up to June, and paid a dividend of 11c per share.

THL chief executive Grant Webster said that the motorhome rentals show a forecast profit of between $36 and $39m during the next financial year. Just over half of revenue for 2017 came from New Zealand, with about 20 per cent from the US and the remainder from Australian and the UK.

THL’s US operation is now almost as big as its local rental fleet of 2200 vehicles, making it number two in the American rental motorhome market.

Last year, it bought Californian motorhome sales and rental company El Monte and Roadtrippers, a US travel app company which has 2.5 million active users and is roughly the equivalent of CamperMate here.

THL is continuing to promote Mighway, a peer-to-peer operation allowing motorhome owners to rent out their vehicles when they’re not using them. More than 500 Kiwi owners have signed up so far and Webster said Mighwayhad paid them over $1m last year. Mighway was also successfully launched in the US in May.

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