Tourism Holdings (ASX:THL, NZE:THL) said due diligence on non-binding takeover proposals from a consortium led by BGH Capital and the Trouchet family, as well as Indie Campers, is progressing constructively but has taken longer than expected due to the scale and complexity of its multinational operations, according to a Tuesday filing with the Australian and New Zealand bourses.

The board has given both parties additional time to complete their assessments and submit revised proposals, with a further update expected ahead of the company's annual meeting on Nov. 6, per the filing.

The company said both proposals remain non-binding and subject to conditions, with no certainty that either will result in a transaction.