Another major Cairns tourism company has been sold in the latest sign of confidence in the future of the local industry.
Tusa Dive and its group of companies have reached a acquisition deal with New Zealand based company InterCity Group.
The sale takes effect in early February and includes high-profile brands such as Tusa Dive, Spirit of Freedom, Spirit of Cairns, and Cairns Tourist Information Centre.
In positive news for the Tropical North economy, the Tusa acquisition is InterCity Group's first venture in Australia following its leading role in the New Zealand market as the country's largest sightseeing tourism and passenger transport network.
Current owners and directors Phillip Hobbs and Christopher Eade will stay at the company for a period and retain a financial interest.
"I'm delighted to be welcoming the Tusa team to the InterCity Group family," InterCity Group CEO John Thorburn said in a statement.
"We have been extremely impressed with the great customer experiences delivered by the team across all the Tusa Group brands, and we see great synergies between the two companies."
Tusa Dive Managing Director Philip Hobbs said the sale provided opportunities to grow the business.
"Their investment in Cairns underscores our mutual belief in the future of Cairns tourism,” he said.
Mr Thorburn said the company won't make any "immediate changes", focusing instead on leveraging InterCity Group's existing digital capabilities and global trade sales relationships.