Aug. 26 (Bloomberg) -- Tourism Holdings Ltd., New Zealand’s largest campervan operator, said net income fell 80 percent as a global recession curbed international travel.

Net income fell to NZ$2.9 million ($2 million) in the year ended June 30 from NZ$14.3 million a year earlier, the Auckland- based company said in a statement. The profit includes NZ$4.3 million from the sale of businesses and costs to scale-down some operations and fire workers, it said.

Falling demand from international travelers is likely to persist over the next year as forward bookings reduce, the company said. Arrivals from markets that hire the company’s campervans and visit its attractions may decline as much as 5 percent in the 2010 year, it said.

Tourism Holdings sold assets including coaches and its Milford Sound cruise ships last year to reduce debt. In May, it fired workers at its CI Munro campervan manufacturing unit as demand slowed.

The remaining operations posted a NZ$1.4 million loss for the year, the company said. It won’t pay a second-half dividend.

To contact the reporter on this story: Tracy Withers in Wellington at twithers@bloomberg.net.

Last Updated: August 25, 2009 17:48 EDT