Does any one know how the NSW NRMA can keep buying resorts and "cruise " operations. They just bought 46% of a tropical cruise operation in February, and now have signed to buy " Gordon River Cruises " from Tassie RACT in May. RACT will use the proceeds for membership benefits by the way.
They ,NRMA appear to be spending like a legless man who just won Lotto. How are they funding all this, and what happens when it all goes a over t ?
Membership goes up every year, and in return we get a dubious 10% discount from often the dearest park in town.
My last foray, with NRMA, was in 1982. Back in the years before 82' , every year, as your no claim would go up an extra 10%, your premium, would go down. So in 82', my premium, was at $97, for a $5000 car, then the next year it doubled, and they dumped the idea, of getting cheaper every year, and almost doubled my premium, and I had not had an accident. Their excuse, was costs had gone up across the board, and all the premiums had gone up. So I said "Stuff Them", and avoided them like a rash. Then in 83', I had leave with out pay for 12 months, thought , of their road side assistance, for our trip around Australia.. Couldn't get it, unless, I was insured by them, so have never had anything to do with them since. I would not trust them with a barge pole.
-- Edited by Bicyclecamper on Thursday 1st of April 2021 09:36:14 PM
Without inside knowledge my guess they are cashed up. The directors are required by law to act in the "best" interest of the investors. ie members. Banks are giving 0.0% of bugger all at the moment. So they could invest in the ASX. Risky! My guess is that they see local tourism as a good investment until international borders 're open. But I'm just guessing.
We've stayed in a couple of NRMA parks- they certainly aren't the cheapest in town.
Here in QLD, the RACQ runs four helicopter rescue services. When I was working in the 2000s, Telstra used to pay $1500 an hour to enable staff to reach sites that were cut off by weather conditions - how much the rescue services cost now, I don't know. We are "always encouraged to donate!" And RACQ members get 4c a life off their fuel bill.
I can only assume they are getting funds from the government &/or there are lots of people "donating"!
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Warren
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If you don't get it done today, there's always tomorrow!
