Outdoor Hospitality News

For owners, operators, team members, and anyone else interested in camping, glamping, or the RV industry.

News for June 30, 2022

THL Suffers $14.3m Loss But Vehicle Sales Rise

Share this article

Tourism Holdings Limited (THL) has reported a $14.3 million net loss after taxes for its full-year results, a $34.3m decrease in 2020, a report said.

The year until June 30, saw operating revenue fall by 10% to $359.2m. This was due to COVID-19’s impact on international tourism.

The company saw record sales and volumes of vehicles, as well as an increase in the average vehicle sales margin across New Zealand, Australia and USA operations.

New Zealand’s campervan rentals and tourism industry were subject to ongoing COVID-19 issues, resulting in a loss of approximately 90% of their normal business. The local operations generated $132m in vehicle rental and sales revenue.

The USA operations of the company performed well, with $147.1m in revenue from vehicle rentals and sales. THL claims that the company was able to benefit from looser travel restrictions in America.

Australian businesses generated $65.5m in rental and vehicle sales revenue. THL states that business performed well in Australia during open domestic travel, but was negatively affected by multiple lockdowns.

According to the company, it will continue to invest in domestic growth opportunities in order to reduce its dependence on international tourism and to build greater resilience.

This includes the possibility of organic growth opportunities that complement Action’s core commercial elements.

It is also planning to open an RV Super Centre in New Zealand as a one-stop shop for all things RV-related. This will allow for growth in retail sales, service, and repair.

It intends to increase vehicle sales by offering a wider range of “direct-to-yard” vehicles as well as updating its fleet design to meet customer needs.

The company is also looking at alternative rental income such as event accommodation or emergency response.

Share this article

Modern Campground

Modern Campground

Modern Campground is the most innovative news source in the Outdoor Hospitality industry. We provide global news coverage for RV Park and Campground owners, operators, managers, and their team members.
You Are Here
Connect on Social Media
MC Fireside Chats
Latest Outdoor Hospitality News
2023 Florida and Alabama Outdoor Hospitality Conference and Expo Venue Announced
Off Map on the Map: Michigan Glampground Adds Glamping Tents with En-Suite Bathrooms
RV Industry Experiences Pandemic Sales Boom While Handling Inflation Impact
Pathfinder: Reservations Up 36% Despite Inflation, High Gas Prices
Virginia RV Businesses Remain Strong Despite Rising Gas Prices, Shortages

© Modern Campground LLC. All Rights Reserved. Website Designed By Insider Perks

Stay Updated
Outdoor Hospitality News

Send this to a friend
Hi, you might find this article from Modern Campground interesting: THL Suffers .3m Loss But Vehicle Sales Rise! This is the link: https://moderncampground.com/australia/new-zealand/thl-suffers-14-3m-loss-but-vehicle-sales-rise/