Tourism Holding's TH2 JV creates new merged business

Tourism Holding's TH2 JV creates new merged Australian business

By Rebecca Howard

April 9 (BusinessDesk) - TH2, a joint venture between Thor Industries and Tourism Holdings, has merged its trans-Tasman CamperMate and Roadtrippers businesses with Australia's GoSeeAustralia and Outdoria to create one entity.

“We found the businesses were very complementary, and bringing them together will create a unique set of features in camping and outdoor adventure experiences. We believe this transaction positions us well to continue expansion in the region," said TH2 chief executive Danny Hest.

Campermate is an app that shows the nearby locations of key things like petrol stations, while Roadtrippers is a road trip planner. GoSeeAustralia makes it possible to compare accommodation options in any location, browse travel stories and book trips, while Outdoria is a camping gear marketplace. GoSeeAustralia and Outdoria are both owned by Marketplacer.

TH2 will become the largest shareholder in the merged entity with a 35 percent stake. Other shareholders include Discovery Holiday Parks, interests associated with Gerry Ryan - founder and managing director of Jayco Australia, and Marketplacer.

According to TH2, the combined businesses will be Australasia’s largest dedicated marketplace for outdoor tourism, and will allow customers to research, plan and book their camping or self-drive holidays, as well as rent or buy equipment ranging from campervans to RVs, mountain bikes to surfboards, and more.

Tourism Holdings officially established the 50/50 joint venture with Thor Industries on March 1, 2018, pooling the firms' assets and resources to develop a single platform to connect a wide range of services in the growing market for RVs.

In the six months to Dec. 31, Tourism Holdings posted a 23 percent decline in first-half profit as the rental RV operator continued to invest in its joint venture with Thor but reiterated its expectation for TH2 to be a "significant earnings contributor in the future," contributing to Tourism Holdings' stated aim of doubling the value of the business in three years.

(BusinessDesk)

ends

© Scoop Media