NRMA Invests $20 Million in NZ Tourism
NRMA Invests $20 Million in NZ Tourism
AUCKLAND, Jan. 18 /Medianet International-AsiaNet/ -
NRMA Motoring & Services, Australia’s largest motoring group, today announced a $20 million investment in New Zealand’s tourism and travel industry with the purchase of Thrifty New Zealand, an 85-room hotel in Palmerston North and Adventureworld Travel.
NRMA provides roadside assistance and motoring, travel and touring services to its two million members in New South Wales and the Australian Capital Territory.
Today’s investment announcement in New Zealand follows the NRMA’s strategy over the last three years to diversify its investment portfolio into the travel and tourism sectors in Australia, with the purchase of 12 Travelodge Hotels, the Treasure Island resort on the Gold Coast, four holiday parks across NSW, Thrifty Australia and Adventureworld Australia.
The purchase of Thrifty New Zealand will be made by Thrifty Australia, in which NRMA is the 75 per cent majority shareholder.
NRMA President, Alan Evans, said the NRMA would promote New Zealand as a holiday destination to its two million plus members and make the most of the special benefits they would receive from Thrifty New Zealand and the soon-to-be renamed Travelodge Hotel.
“New Zealand is a favourite holiday destination for almost one million Australians each year, so it makes sense for the NRMA to invest in the local tourism industry and encourage more of its members to consider New Zealand as their next holiday destination,” Mr Evans said.
“We want to promote New Zealand to our members and Adventureworld will be developing special New Zealand holiday packages for them to make the most of their holidays.
The hotel at Palmerston North (currently Novotel) will become New Zealand’s first Travelodge Hotel and will become a key part of a growing chain of hotels catering to local domestic, Australian and other international travellers and tourists.
“Travelodge Australia has built a significant market in attracting tourists from Europe as well as the domestic market and we envisage that continuing in New Zealand,” Mr Evans said.
NRMA CEO, Tony Stuart, said the NRMA would continue to look for ways to grow its business in travel and tourism and was particularly interested in investment opportunities in New Zealand.
“The NRMA set upon a strategy three years ago to buy businesses that our members have an interest in and will provide a stable return to the company,” Mr Stuart said.“New Zealand provides NRMA with outstanding investment opportunities because of the strength of its tourism.
“As someone who has lived in New Zealand I the enormous potential this country holds in tourism and as a popular holiday destination for our members.
“Our two countries have great synergies and we hope today’s announcement is the start of a long association between NRMA and New Zealand.”
Thrifty New Zealand
Thrifty Australia will purchase a 70 per cent stake in Thrifty New Zealand. NRMA currently owns 75 per cent of Thrifty Australia. Thrifty New Zealand operates offices in all major airports across New Zealand.
Novotel Hotel Palmerston North
NRMA will purchase a 50 per cent stake in the Novotel Hotel Palmerston North alongside investment partner Mirvac. The hotel will be rebranded to trade under the Travelodge Hotel name and join NRMA’s stable of 12 Travelodge Hotels across Australia. Novotel Palmerston North is an 85-room facility and has an annual occupancy level of over 80 per cent.
Adventureworld New Zealand
Adventureworld New Zealand is a wholesale travel business that sells travel and holiday packages to travel agencies across the country. NRMA currently owns Adventureworld Australia and will acquire a 70 per cent interest in the New Zealand operations. The company is based in Auckland.