THL - Tourism Holdings

[iceman]

I don't know anymore. It's my second largest holding but I'm really getting tempted to sell down. We'll see.

Don’t !! My third biggest holding and not for sale. PE of 21.36 is based on FY17 profit, which was achieved 2 years earlier than forecast. $50 M NPAT on the way in FY2020 or a PE of around 13.3 at current SP. Dividends gone from 11c in 2014 to 21c in 2017. Should continue to grow substantially. 63% total shareholder return per annum for the last 5 years and I see no reason why it will not continue at pace, bearing in mind this is an industry that can be seriously upset by unforeseen evens such as natural disasters or terrorism. But this is a good hold in my view. DYOR.

Discl. My 3rd biggest holding and happily so.

[iceman]

I note our Chairman Rob Campbell has just become Chairman of Sky City. This is in addition to Summerset and THL. This concerns me a little bit because his influence on both SUM and THL has been great. Sky City may take a lot of his time !!

[Justin]

Don’t !! My third biggest holding and not for sale. PE of 21.36 is based on FY17 profit, which was achieved 2 years earlier than forecast. $50 M NPAT on the way in FY2020 or a PE of around 13.3 at current SP. Dividends gone from 11c in 2014 to 21c in 2017. Should continue to grow substantially. 63% total shareholder return per annum for the last 5 years and I see no reason why it will not continue at pace, bearing in mind this is an industry that can be seriously upset by unforeseen evens such as natural disasters or terrorism. But this is a good hold in my view. DYOR.

Discl. My 3rd biggest holding and happily so.

hi、what’s the 1th and 2nd, thx

[iceman]

hi、what’s the 1th and 2nd, thx

PPH and HBL

[Justin]

hi all，I checked there are only 4500 total rv in the New Zealand market, and we have 4 million plus tourists annual, why the rv companies not increase their fleet to get more market share?

[macduffy]

hi all，I checked there are only 4500 total rv in the New Zealand market, and we have 4 million plus tourists annual, why the rv companies not increase their fleet to get more market share?

Probably because there is still a strong seasonal element to the business and expensive vehicles standing idle aren't profitable.

[Scrunch]

hi all，I checked there are only 4500 total rv in the New Zealand market, and we have 4 million plus tourists annual, why the rv companies not increase their fleet to get more market share?

Not quite a like for like comparison because one RV will be used by several tourists during the year, and probably by several at the same time (I'm guessing but most renter's are likely to be either couples or some family combination)

Particularly as hotel/motel availability tightens up and prices increase, demand is likely to grow.

Disc Holding

[Leftfield]

hi all，I checked there are only 4500 total rv in the New Zealand market, and we have 4 million plus tourists annual, why the rv companies not increase their fleet to get more market share?

IMHO NZ's performance is going to be a less and less important portion of THL's global empire as more and more revenue comes from other markets. Here's a recent summary of their world wide position. THL now claim to be the biggest RV hire firm in the WORLD.

Attachment 9342

[iceman]

IMHO NZ's performance is going to be a less and less important portion of THL's global empire as more and more revenue comes from other markets. Here's a recent summary of their world wide position. THL now claim to be the biggest RV hire firm in the WORLD.

Attachment 9342

Spot on Left field but overlooked by many. The $50m profit will not all rely on NZ operations

[Marilyn Munroe]

Probably because there is still a strong seasonal element to the business and expensive vehicles standing idle aren't profitable.

I understand another rental operator with a significant inbound tourist business starts to shed vehicles when the utilisation rate for the category drops below 80%

Boop boop de do
Marilyn