CINCINNATI--(BUSINESS WIRE)--Two industry-leading companies today announced a partnership to significantly enhance the enjoyment and safety of RV enthusiasts by digitally connecting this fast-growing international community.
Thor Industries, the world’s largest RV manufacturer, and thl, the world’s largest RV rental and sales operator, have formed a joint venture to acquire the assets of:
- Roadtrippers, a leader in road trip planning;
- Roadtrippers Australasia, a provider of tourism and navigation services in Australia and New Zealand;
- Cosmos, a digital platform for RV customer relationship and fleet management, product pricing, and booking and rental management;
- Mighway, a leader in peer-to-peer RV rentals with operations in both New Zealand and the United States; and
- CamperMate, Australia and New Zealand's top camping App.
Thor and thl will also leverage their relevant skills, business models and know-how to enable the joint venture to become the leading global digital platform for the RV industry.
The joint venture, doing business as TH2, is committed to bringing the full benefit of digital connectivity and the sharing economy to RV owners around the world.
TH2's innovative and comprehensive platform will improve every aspect of RV ownership with capabilities that include trip planning and booking, remote systems monitoring, roadside assistance, and peer-to-peer RV and campsite rental. The system will also streamline an owner’s record keeping and enable RV dealers and manufacturers to provide such support as triggered service notifications, online vehicle manuals, and more.
Manufacturers, RV dealers, and rental operators who utilize TH2’s services and products will see increased efficiencies in product pricing, service engagement, and fleet management.
The current global passion for RV travel makes this a perfect time to debut TH2’s platform. American RV ownership is at an all-time high. In 2017, RV shipments exceeded 500,000 in the U.S. alone, an increase of 17% from the previous year, according to the Recreational Vehicle Industry Association. The RV lifestyle is also enjoying resurgent popularity in Europe where travelers registered over 190,000 new RVs in 2017, a 12% increase over 2016. As in the U.S., much of that growth is driven by younger buyers.
“The RV lifestyle is exploding in popularity both in the U.S. and around the world," said Thor Industries President and CEO Bob Martin. "We believe TH2’s digital platform will be a game changer for a new generation of RVers. TH2 brings together Thor’s experience as the world’s largest RV manufacturer and thl's expertise as the world's largest RV rental company. The result will be an industry-best collection of digital services tailored specifically for RVers, a textbook case of the whole being greater than the sum of the parts. The TH2 venture also further expands Thor’s role in the sharing economy and vital international markets.”
Grant Webster, thl CEO said: "thl has been focused on building a global platform for some time, we are very pleased to see those assets now part of TH2. The growth opportunities for TH2 under this new structure are immense. We look forward to adding our diverse user, on-road, and in-trip insights to craft a digital offering that will dramatically enhance countless journeys.”
TH2 will be headquartered in Cincinnati, Ohio. Bob Wheeler, President & CEO of Airstream, a subsidiary of Thor Industries and maker of the iconic “silver bullet” travel trailer, will also serve as President of TH2. Grant Webster from thl will serve as company Chairman.
Said Wheeler: “Today’s digitally savvy owners have already harnessed the power of mobile connectivity in many ways, some of them quite innovative. TH2 will take that to the next level with an integrated digital system that results in fewer worries and more fun on the road.”
Thor Industries (NYSE: THO) was founded in 1980 by Wade Thompson and Peter Orthwein with the purchase of Airstream. Thor Industries went public in 1984, and since that time Thor has grown both organically and through strategic acquisitions. Today, Elkhart, IN-based Thor is the sole owner of operating subsidiaries that, combined, represent the world’s largest manufacturer of RVs.
Tourism Holdings Limited (thl) is New Zealand's premier tourism company and the largest provider of RVs for rent globally. In Australia and New Zealand, the company operates the Britz, maui and Mighty rental brands, as well as sales outlets RV Sales Centre and RV Super Centre. In the US, thl owns Road Bear RV Rentals and Sales and El Monte RV Rentals and Sales. The company holds 49% of UK-based Just go Motorhome Rentals & Sales, and 50% of Action Manufacturing. Its operations also include Mighway, one of the world’s largest and fastest growing peer-to-peer motorhome rental services.