The purchase was funded by $82.2million bank debt and 3.4million Tourism Holding shares.
A second, separate, purchase was a 22.5% stake in Roadtripper USA, a popular US road travel app, which will establish a 50:50 joint venture between the two companies for use in New Zealand and Australia.
That purchase was for $US6million ($NZ8.67million), including Tourism Holding's GeoZone travel app business sold to the joint venture for $US1million, paid in joint venture shares.
Shares in Tourism Holdings were up almost 6.5% at $3.63 following the announcement.
Tourism Holdings chairman Rob Campbell said the purchases were ''positively resetting'' company expectations and enabled it to leverage off its current business, skills and balance sheet.
Highlights from the acquisition included a new after-tax profit goal of $50 million, to be achieved in full year 2020, compared with full-year after-tax profit for 2016 of $24.4million.
Craigs Investment Partners broker Peter McIntyre said it appeared to be a good transaction and ''very earnings accretive'' for Tourism Holdings, considering its prediction of a $50million profit in full year 2020.
It was a positive for shareholders in that the El Monte Rents purchase was debt-funded, as opposed to releasing more shares.
''Tourism Holdings is buying into becoming the second largest operator in the North American market,'' he said.
Mr Campbell's outlook said previous full year 2017 financial guidance was between $27.5million and $28.5million, but after accounting for some divisional gains and low season and new venture losses, Mr Campbell downgraded the forecast profit to $27million, $500,00 below guidance.
Tourism Holdings half-year results are scheduled for late February.
