Canadian RV rental firm CanaDream Corp. plans to expand its 650-unit fleet by 6% for the coming summer tourist season in Canada.
The costs related to maintaining a larger fleet contributed to a 20% decline in the company’s pre-tax earnings during the nine months ended Jan. 31, according to Brian Gronberg, president and CEO.
CanaDream earned $1.8 million (Canadian) per tax during the nine months ended Jan. 31, despite a $1.6 million (Canadian) loss during the November-through-January period.
One Canadian dollar now is worth a little more than 64 cents in U.S. currency.
CanaDream’s sales revenue increased 7% during the nine months ended Jan. 31 to $10.7 million (Canadian). The company has a fleet large enough to generate at least $12.5 million (Canadian) during its fiscal year 2002, which will begin on May 1, Gronberg said.
So far, CanaDream reservations are up 167% for its fiscal year 2002 because of its Internet reservations system known as CORA (CanaDream Online Reservation Assistant), Gronberg added. International travel agents now use CORA to confirm 80% of CanaDream’s reservations.