Tourism Holdings Limited (THL) partnership with United States RV manufacturer Thor Industries has been signalled for global expansion.
THL chief executive Grant Webster told shareholders at the October annual meeting the opportunity for TH2 “is significant” and is capable of achieving a net profit before tax in FY20 of up to US$10 million.
The 50/50 joint venture, named TH2, was announced in February this year.
It combines the assets of THL as the world’s largest renter of motorhomes and campervans and Thor as the world’s largest RV manufacturer.
The partnership also includes technology-based assets such as road trip planning software company Roadtrippers; booking, rental and fleet management provider Cosmos; peer-to-peer RV rental service Mighway and top Australia and New Zealand camping app, CamperMate.
“TH2’s main purpose is to improve every aspect of RV use and ownership through technology. To do so, significant engagement will be required with three key customer segments, RV owners, RV rental customers and self-drive customers.
“The potential size of these addressable markets globally are extraordinary, with RV owners alone likely to be around 15 million,” Webster says.
THL chairman Rob Campbell says the TH2 venture was a “key highlight” for the year and has “substantial opportunities for the future”.
“This business has a goal of becoming the digital platform for the global RV industry and is well positioned to deliver to that goal,” Campbell says.
THL posted a FY18 pre-one-off net profit after tax of NZ$37.5m, an increase of 24%.
