KEY POINTS:
A group of US investment funds continues to increase its stake in NZX-listed Tourism Holdings but is tight-lipped about its plans.
A substantial security holder notice filed yesterday showed the group had raised its stake to 15.9 per cent.
The parties listed as holders are Drake Associates, Sterling Grace Capital Management, Cabin Interiors, Aviation Services and Peter Metz.
Senior vice president of Sterling Grace & Company Peter Metz - listed as the contact on the notice - was not answering questions yesterday about the interest in the tourism operator.
"I have no comment ... sorry."
In July he did say the funds liked the dividend yield of Tourism Holdings and had other investments in New Zealand.
Tourism Holdings - with brands including Maui and Britz campervans and attractions such as Kelly Tarlton's Underwater World in Auckland and Waitomo's glow-worm caves - had a dividend of 11c for the past June year.
While the dividend was stable, net profit fell to $11 million from $15.3 million after a year that included a fire at its Waitomo cave, a flood at Kelly Tarlton's, a high kiwi dollar and rising fuel prices.
The company's share price closed up 2c yesterday at $1.93.
