Experience Co sells
Former Tourism Australia MD John O’sullivan is now putting his stamp on Experience Co, the Asx-listed adventure tourism company where he has been CEO since the middle of 2019. The firm has been working hard to diversify its earnings away from its core focus on skydiving, but some of its acquisitions in recent years have clearly not been performing. O’sullivan has undertaken a strategic review which has identified some “non-core” parts of the business which are now in the process of being sold.
These include Great Barrier Reef Helicopters, Raging Thunder Adventures and RNR White Water Rafting, hot air ballooning operations in Cairns, Byron Bay and the Hunter Valley, and Experience Co’s canyoning business. O’sullivan said the “business simplification process” would give the company flexibility to pursue growth opportunities “better aligned to our core business, expertise and with a focus on return on invested capital”.