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Note 6

Subsidiary companies

Interest Held

Interest Held

2017

2016

2017

2016

Qualmark New Zealand Limited

100% 100% 100% 100%

Visitor Information Network Incorporated (trading as i-SITE NZ)

0% 0% 0% 0%

The financial year-end of both subsidiaries is 30 June.

Qualmark New Zealand Limited

Qualmark New Zealand Limited is New Zealand tourism’s official quality agency. Qualmark licenses professional and trustworthy New

Zealand tourism businesses to use the Qualmark

®

, tourism’s official quality mark, to help international and domestic travellers select

places to stay, things to do and ways to get around.

Qualmark’s core activities are based around determining the eligibility of businesses to enter the licensing system. This is achieved by

way of assessment, promoting and working with Qualmark

®

licensees and working closely with other organisations and sectors within

the tourism industry. By doing so, quality standards are raised and New Zealand tourism businesses improved based on best-practice.

Visitor Information Network Incorporated (trading as i-SITE NZ)

Tourism New Zealand has control of Visitor Information Network Incorporated (VIN Inc), trading as i-SITE New Zealand, effective 21

August 2002.

Tourism New Zealand and i-SITE New Zealand have a relationship agreement that recognises the importance of having an effective

and high quality network of visitor information centres, dedicated to delivering free, comprehensive and objective information. The

terms and conditions of the relationship agreement mean that Tourism New Zealand meets the criteria determined in PBE IPSAS 6 for

consolidating investments in subsidiaries.

The i-SITE brand creates a distinctive look, which distinguishes the official network from other information centres. The i-SITE Visitor

Centres provide on-the-ground information to ensure the visitor experience is as enjoyable as possible.

Note 7

Associate company

Group

Parent

2017

$000s

2016

$000s

2017

$000s

2016

$000s

The New Zealand Way Limited

-

-

-

-

The financial year-end of The New Zealand Way Limited is 30 June.

Tourism New Zealand has a 50% shareholding in The New Zealand Way Limited. This Company is the operating entity of a joint venture

between Tourism New Zealand and New Zealand Trade & Enterprise.

The New Zealand Way brand provides marketing opportunities to those companies which meet quality and environmental standards.

The brand is promoted as a mark of outstanding quality, superior service and unique New Zealand characteristics.

There were no impairment losses relating to the investment in associate and no capital commitments or other commitments relating to

the associate.

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