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The owner of Auckland’s Rainbow’s End and Rotorua’s Polynesian Spa has painted contrasting pictures for the two attractions in its latest interim results for the six months to September 2019.
The sale of a 33% stake in the operator marks the start of a new chapter for the business.
Tourism stalwart Michael Becker has bought into Auckland Seaplanes and Waiheke Wings as the scenic flight operator sets course for growth.
One of Australasia’s most acquisitive operators in recent years has put that strategy in reverse with the announcement that it is now selling businesses, most of which were bought in the past three years.
Strong growth in New Zealand and Australia has seen ‘pleasing’ results for online travel booking and expense management firm Serko.
A bumper cruise season contributed to a strong year for Napier Port, which saw revenue and earnings ahead of the forecast prepared for its Initial Public Offering in July.
The operator has posted a 7.7% increase in passenger numbers, as it ploughs ahead with a $4.4m upgrade.
The CEO on the current slowdown, responding to aggressive pricing, and NTT’s Queenstown hotpools and electric jet boat projects.
One of Australasia’s most acquisitive operators has warned of a decline in earnings for FY20 and has launched a strategic review to help turn around its performance.
An 8% increase in passenger numbers to Hamilton Airport and the addition of the airport hotel to the portfolio have helped drive a 22% increase in operating revenue at Waikato Regional Airport Limited.
Brother and sister John Managh and Mary Hamilton have taken back full ownership of RV rental operator Wilderness Motorhomes after buying out the company’s chair, Michael Becker.
Ngāi Tahu Tourism’s operations and board are being restructured as part of a wide-ranging review of the group kicked-off by Ngāi Tahu Holdings chair Mark Tume.
A 19.9% increase in income from passenger services was one of the few highlights in Wellington International Airport Limited’s latest interim results.
Tourism Holdings has advised its 2019 Annual Meeting will now take place Thursday 31 October 2019, at 2pm.
Tourism Holdings has postponed its annual general meeting scheduled for 2pm today at Auckland’s Heritage Hotel.
The Alpe brothers’ JUCY Group has negotiated a new six-year lease of a 1.34ha Helensville property the rental vehicle company has occupied since 2010.
The operator’s margins are being squeezed by heavy discounting in the sluggish market.
Skyline and its former chair get the deal across the line.
The operator is considering bringing the deal worth tens of millions to market after failing to sell to its former chair.
While pay for New Zealand’s top tourism executives might pale next to the $25m paid to Qantas CEO Alan Joyce, most of the industry’s top bosses enjoyed pay rises in FY19.
Air New Zealand’s Chris Luxon is toppled from the top tourism earner’s spot.
Air New Zealand is merging its two regional subsidiaries into its main jet business to “achieve better operational alignment”, says the airline.
The acquisitive operator has launched a review of all its businesses following a A$62.2m write down.
Henry van Asch and Ngāti Tūwharetoa have made separate moves on significant tourism businesses.
After a tough three years, Tourism Holdings’ coach business is diversifying its offering.
NZ rental, Waitomo businesses are highlights after a “difficult, disappointing” year in the USA.
The airline will push ahead with more cost-cutting following a wide-ranging business review.
AIAL has reported a 4.4% increase in underlying profit to reach $275m.
However, the year ahead was looking more challenging, with domestic and key international markets softening.
Queenstown Airport Corporation has reported net profit after tax of $16.6m for the year to June 2019, up 11% on the previous period.
SkyCity Entertainment Group has seen its net profit drop 14.7% to $144.6m in the year to the end of June, rising to a 1.9% gain on a normalised basis.
A one-off tax gain in the US of $1.8m will boost Tourism Holdings’ net profit this year.
Increased costs and competition across NZ has put pressure on room rates, says the hotel group.
The operator is in “late-stage discussions” for a luge operation near Kuala Lumpur.
Trading has resumed this morning in Tourism Holdings’ ordinary shares following a halt yesterday for a shortfall bookbuild.
After resigning from Skyline, the former chair is buying back Totally Tourism off the operator.
The operator cites mandated wage increases as taking a toll on traditional margin levels.
Rotorua’s Polynesian Spa and Auckland’s Rainbow’s End suffered dips in visitor numbers over FY19 with owner Rangatira Investments downgrading its long-term earnings forecast for the latter attraction.
The Auckland attraction has struggled to lift numbers over the past three years.
Fleet, people, and property reductions are planned to turn around falling US sales.
Air New Zealand has cut its FY19 earnings before tax by up to $60m citing increased fuel costs.
New Zealand corporate travel booking software developer, Serko, is stepping up its expansion into North American and European markets after reporting strong growth in its 2019 preliminary results.
SKYCITY Entertainment Group says it now expects its earnings to be flat for FY19.
Tourism Holdings’ share price has stabilised following a profit downgrade induced sell-off before the Easter break.
The operator launches a “decisive” review of its US operations after deteriorating sales in that market.
Tourism Holdings’ digital RV platform says it has created “Australasia’s largest dedicated marketplace for outdoor tourism”.
The operator has sold the concession to operate its 3,200 Auckland car park spaces to Macquarie.
Leslie Preston’s Bachcare has secured investment from a UK holiday rental firm which not only paves the way for continued NZ expansion but also puts international growth in its sights.
However, the airline says it wants to stimulate tourism by tapping into new markets.
Wellington International Airport has raised $100m through the offer of an 11-year, unsecured, fixed-rate bond.