Tourism growth leads to sale
The Far North’s tourism boom has led to the sale of one of the region’s leading adventure company for more than $15m. Skydive the Beach has bought rival Raging Thunder for $15.45m. Raging Thunder has provided more than 100,000 visitors each year with white water rafting, hot air balloon rides, canyoning, kayaking and boat rides to the Great Barrier Reef. Former Raging Thunder owner Fred Ariel (above) said the sale could not have come at a better time. He said the choice to leave the business in the hands of Skydive the Beach boiled down to the need to meet tourism growth.
THE Far North’s tourism boom has led to the sale of one of the region’s leading adventure company for more than $15 million.
Skydive the Beach has bought rival Raging Thunder for $15.45 million.
Raging Thunder has provided over 100,000 visitors each year with white water rafting, hot air balloon rides, canyoning, kayaking and boat rides to the Great Barrier Reef.
Former Raging Thunder owner Fred Ariel said the sale could not have come at a better time.
“The tourism industry is in a good place and it’s looking to stay that way for the foreseeable future,” he said.
“In business you sell at the top and buy at the bottom and that’s exactly what we did.”
He said the choice to leave the business in the hands of Skydive the Beach boiled down to the need to expand to meet the growth in tourism.
“We had to see if we were in the position to take the quantum leap that the business needed, but we decided to move over and let somebody else take it on,” he said.
“There are a lot of opportunities for staff as this bigger entity takes its place in Cairns. There are 140 staff and I see that growing in the future.”
Skydive the Beach executive director Anthony Ritter said the takeover would benefit visitors to the region.
“Aligning with companies that share our values for safety, high-quality and sustainable adventures will fast track our growth and ensure that more people can enjoy those unforgettable experiences,” he said.