Service ITOs to Consider Merger Potential

Press Release – HSI

A trio of industry training organisations “ Aviation, Tourism and Travel Industry Training Organisation (ATTTO), Hospitality Standards Institute (HSI) and Retail Institute “ are entering into a due diligence process to identify any issues that might affect …Service ITOs to Consider Merger Potential

A trio of industry training organisations “ Aviation, Tourism and Travel Industry Training Organisation (ATTTO), Hospitality Standards Institute (HSI) and Retail Institute “ are entering into a due diligence process to identify any issues that might affect a possible merger of the three organisations.

The service sector represents around 25% of the New Zealand economy and plays a key part in job creation and economic growth. The three ITOs already work closely together as part of the Service Industries Training Alliance (SITA). They share a number of projects and shared services arrangements such as Information Communication Technology, Accounting, Language Literacy and Numeracy, and Customer Engagement.

In February this year, a preliminary review of the potential for closer collaboration between the three organisations identified synergies within the ITOs structures, and areas where the three organisations could share best practice.

The due diligence report is due to be completed in June 2012. It will highlight the impacts, both positive and negative, of any merger, including the financial implications and the benefits to customers and key stakeholders. Once published to each ITO’s board, they will review the report and decide how to proceed, including full industry consultation. Until then the three Chief Executives will work together to identify broader business plans and discuss possible funding models.

“The journey for our service sector ITOs is about sharing resources to deliver a higher value service to our industries,’’ says Ken Harris, Chief Executive of HSI.

ATTTO, HSI and Retail Institute are committed to ensuring that qualifications and training meets the current and future skill needs of their service industries, and will make certain that business continuity is maintained now, during this process and into the future for our industries.

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