Coronavirus: Wells Gray Tours Ltd. weathers COVID-19 with rainy day fund

After Wells Gray Tours Ltd. was hit hard by the recession of 2008, Roland Neave vowed to never let his company fall on hard times again.

The company that provides guided vacations and travel packages with offices in Kamloops, Victoria and throughout the Okanagan is at a unique advantage because of a rainy day fund that he has been investing in for 12 years.

“Several weeks ago, when cancellations started coming in, I promised all of our employees we would at least maintain full employment until the end of April and those wages are all being paid out of this rainy day fund,” said Neave.

After 48 years in the industry, Neave is using all of his experience to make sure Wells Gray Tours Ltd. will survive the effect COVID-19 is having on the economy.

“It just makes you feel so much more comfortable when you have got that fund to fall back upon,” said Neave.

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And past April, he will be able to continue to take care of his employees with the 75-per cent wage subsidy announced by Prime Minister Justin Trudeau last week.

“I don’t want to lose these people,” said Neave. “This is going to be a short term problem, so when COVID-19 is over with we want to be ready to offer our tours.”

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The company that books 95 tours a year for thousands of Okanagan residents has already cancelled 17 of them due to the COVID-19 world pandemic.

Neave, however, is optimistic that come summertime, Canadians will be able to travel once again.

In the meantime, employees are working from home and are busy planning for the future.