In 1991 the rail-based assets were transferred to New Zealand Rail and the long distance buses and "InterCity" name were bought by InterCity Management Limited, a group of seven of the country's largest private coach companies - Whangarei Bus Services, Bayline Group, Ritchies Transport, Tranzit Group, Guthreys Coachlines, Nelson SBL and PTL Route Services - as a franchise-based operation. Each of the franchisees is responsible for operating set routes, usually close to their home base. Of the original seven franchisees four remain, with one new franchisee (SDK Ltd) operating services in Northland where Whangarei Bus Services previously held the franchise.