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Experience Co sells off adventure tourism businesses
Adventure tourism group Experience Co has announced the sale of Great Barrier Reef Helicopters to billionaire Chris Morris.
It also offloaded its canyoning business to Cairns Canyoning.
Together the transactions will net $17.5 million.
Experience Co last month stated it was looking to sell the businesses as well as other non-core subsidiaries Raging Thunder Adventures and RnR White Water Rafting.
It will continue selling these non-core assets as well as its hot air ballooning businesses.
"It is particularly pleasing to hand the Cairns headquartered GBRH and Canyoning businesses to the Morris Group and Cairns Canyoning respectively which have established a tourism and hospitality presence in the region," said Experience Co CEO, John O’Sullivan.
Experience Co will keep hold of businesses such as Dreamtime Dive and Snorkel, Big Cat Green Island Cruises and Skydive Mission Beach.
It also operates skydiving businesses in Queenstown, New Zealand.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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