thl begins NZ restructuring process

Tourism Holdings Limited
Tel: +64 9 336 4299
The Beach House
Fax: +64 9 309 9269
Level 1, 83 Beach Road
www.thlonline.com
Auckland City

PO Box 4293, Shortland Street

Auckland 1140, New Zealand



Self drive
Experiences
New Zealand
Australia
USA
UK


Design &
Manufacturing
New Zealand
Australia

Guided
Experiences
New Zealand



26 May 2020

MEDIA | NZX RELEASE
TOURISM HOLDINGS LIMITED (thl)

thl BEGINS NEW ZEALAND RESTRUCTURING PROCESS

thl advises that it has today commenced a consultation process across parts of its New Zealand
business, with the intention of matching crew numbers to current activity levels and
expectations for the coming months.

thl Chief Executive, Grant Webster, said, “the COVID-19 restrictions have had a material impact
on our business globally. Our USA business made staffing changes in April and our Australian
business is utilising the six-month JobKeeper subsidy and reviewing ongoing crew structures. In
New Zealand, we have been seeking alternative revenue since the COVID-19 restrictions were
implemented, whilst accessing the COVID-19 Wage Subsidy scheme to support our people.”

The consultation process, which begins today, will involve employees from Waitomo, Kiwi
Experience and group support. Around 140 people are expected to be impacted by the
proposed changes in these businesses. The response to our large-scale motorhome rental
campaign in New Zealand launched yesterday has significantly exceeded expectations and our
initial campaign goals. As a result, we are reviewing resourcing for our New Zealand Rentals
and Sales business and any potential changes that may be required.

Our business has a clear and flexible roadmap to return to sustainable operations and earnings,
as market conditions change, and will keep the market informed as each step is made.”

ENDS

Authorised by:

Rob Campbell
Chairman, Tourism Holdings Limited

For further information contact:
Grant Webster
thl Chief Executive
Direct Dial: +64 9 336 4255
Mobile: +64 21 449 210

About thl (www.thlonline.com)

thl is a global tourism operator. We are listed on the NZX and are the largest provider of RVs for rent and sale in Australia and
New Zealand, and the second largest in North America. In the USA we own and operate the Road Bear RV Rentals & Sales brand
and El Monte RV Rentals & Sales. In the UK, thl owns 49% of Just go Motorhomes. Within New Zealand, we operate Kiwi
Experience and the Discover Waitomo group, which includes Waitomo Glowworm Caves, Ruakuri Cave, Aranui Cave and The
Legendary Black Water Rafting Co. thl is a joint venture partner in Action Manufacturing LP, New Zealand’s largest motorhome
and specialist vehicle manufacturer.