Monday, October 23, 2017
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Corporate & Results

Shareholders vote to boost thl board pay packets

Tourism Holdings shareholders voted yesterday to give the company's board of directors a pay rise of $10,000-$20,000 each.

Kaikoura quake hits CentrePort profits despite vehicles, cruise growth

Wellington's CentrePort made a $2.3m loss for the year to June despite its vehicles and cruise businesses up 32% and 12% respectively on the previous period.

Auckland Airport closes $100m offer, taps Australia for $120m

Auckland Airport closes its $100m fixed-rate bond offer with interest set at 3.64% per annum and also taps Australia for extra $120m

Skydive the Beach splashes $22m for helicopter operator

One of Australasia's most acquisitive operators has made another large investment again signalling its intent to become "the world's largest adventure tourism company".

Accor in $1.3bn bid to create Australasia’s largest hotel group

Europe's largest hotel group, Accor, has made a US$930m (NZ$1.3bn) bid for Australia's Mantra Group, which could see a number of New Zealand assets change hands.

THL board seeks $10K-$20K pay rises for its members

Tourism Holdings' board of directors are seeking to lift their total pay pool by $100,000 to $650,000 per year.

Rangatira Investments CEO resigns

Phil Veal, the chief executive of Rangatira Investments, which owns two of the country's most iconic attractions, has resigned and will leave his role in November.

Stray buys Loka to become APAC’s largest “flexible adventure travel network”

Auckland-based Stray Travel has bought Australia's Loka adventure travel operator in a deal the companies say will create Asia Pacific’s largest "flexible adventure travel network".

Tourism Holdings appoints Cathy Quinn to board

Cathy Quinn, ONZM, is a senior corporate partner at MinterEllisonRuddWatts has been appointed to the Tourism Holdings Limited Board.

Passengers, property drive 50% profit surge at Christchurch Airport

A record number of passengers and strong property growth have helped Christchurch International Airport Limited (CIAL) report net profit after tax of $64.6m for the year ended June, up 50% on last year's result.

Queenstown, Auckland airports reap bumper profits

Queenstown and Auckland airports have reported bumper profits driven by tourism and increased capacity. 

Air NZ profit falls 17.5% to $382m

Air New Zealand’s earnings before tax have fallen by 20.5% to $527m for the year ended June 2017.

THL profit surges as NZ rentals earnings leap 50%

Tourism Holdings has reported record net profit after tax of $30.2m for the year ended June, up 24% on the previous period.

SkyCity CEO: Queenstown, Hamilton scoped for redevelopment, hotels

SkyCity Entertainment Group is evaluating its Queenstown and Hamilton sites for redevelopments which could include new hotels.

SkyCity profit falls nearly 70% after Australian impairment

SkyCity Entertainment Group has this morning reported a net profit after tax for the year to June of $44.9m, down 69.2% on the previous period, off revenue of $1.02bn, which was down 7.2%.

Connexionz expands in US

Connexionz, a leading provider of intelligent transit solutions for ferry and bus operators, has opened a US office in California.

Active Adventures on Blue Sky private equity deal

Queenstown tour operator Action Adventures has spoken publicly about its deal with Australian private equity firm Blue Sky.

Aussie PE enters NZ tourism with Queenstown purchase

An Australian private equity investor has splashed millions for a stake in a Queenstown tour operator and is hunting for more deals in NZ's booming tourism sector.

Flight Centre buys two NZ travel firms

Australian-listed Flight Centre Travel Group has moved to increase its leisure and corporate travel market-share in New Zealand by buying two companies.

SkyCity writes down Aussie asset by A$95M

SkyCity Entertainment Group will write off all the goodwill in its Darwin casino complex with an A$95m impairment.

New CEO and tourism strategy for Fullers

Mike Horne has been appointed chief executive of Fullers Group signalling a shift in strategy for the cruise, ferry and coach operator.

Fletcher ructions delay $470m Auckland convention centre

SkyCity says it is "comfortable" with its contractual agreements with developer Fletcher Construction despite a delay in the delivery of the New Zealand International Convention Centre.

Gisborne airport owner reports record revenue

Eastland Group recorded another strong business performance in the year to March 2017. Income increased to a record $76.2 million, with an audited profit of $14.8 million.

Serko turns around loss after big bump in revenue

Online travel booking software firm Serko said it expects its first half full year 2018  earnings to be positive at approximately $1m, up from a $1.75m loss the same period the previous period.

Skyline seeks expansion as profits surge 26%

Skyline Enterprises has announced a 26% leap in pretax profit as it continues to look at new tourism opportunities at home and abroad.

SkyCity chair steps down, THL chair steps up

SkyCity Entertainment chairman Chris Moller has announced his retirement paving the way for new board member Tourism Holdings chairman Rob Campbell to take the helm.

Sellers bank $400K after skydivers smash jump target

Skydive Wanaka has broken through the 17,000 tandem jumps target set by Skydive the Beach allowing the Otago operation's previous owners to bank $400,000.

Audio: THL upgrades profit forecast to $29.5m

Booming tourism has seen Tourism Holdings raise its full-year net profit forecast from $27m to $29.5m, a 21% increase on the previous period.

Air NZ domestic demand jumps 12%

Air New Zealand carried 1,165,000 passengers during the month of May, an increase of 8.7% compared to the same period last year.

Weather dampens Rainbow’s End, Polynesian Spa owner’s earnings

A wet summer has contributed to flat earnings for the owner of Rotorua's Polynesian Spa and Auckland's Rainbow's End. Rangatira Investments has reported operating earnings...

Booming tourism helps Mainfreight lift earnings 17%

Mainfreight is pleased to announce another year of record results to 31 March 2017.

Real Journeys hits ‘Go’ on merger

Real Journeys has restructured its business to create two distinct tourism companies.

SkyCity to appoint Tourism Holdings chairman to board

SkyCity Entertainment Group Limited advises that it intends to appoint Rob Campbell as a non-executive director to the SkyCity board.

An Operator’s View: Christchurch Airport’s Justin Watson

Christchurch International Airport's chief commercial officer - aeronautical, Justin Watson, shares his views on the airport's performance and its $180m development programme.

Queenstown Airport interim revenue jumps 25% to $20m

Queenstown Airport Corporation has reported a solid half-year result, achieving a net profit after tax of $6.2m for the first six months of the 2017 financial year.

Cardrona invests $15m in winter ’17

Cardona Alpine Resort is on track to complete $15m of developments in time for the winter season.

Real Journeys’ Richard Lauder on $20m Walter Peak investment and beyond

Real Journeys is embarking on an extensive development programme which will see it pump millions into its major attractions.

Queenstown Airport buys Wanaka farm, gets into $750k “groove” 

Queenstown Airport Corporation has acquired Windermere Farm, a 43-hectare block of land located adjacent to Wanaka Airport.

Skydive Wanaka helps Aussies lift NZ revenue by 362%

Skydive the Beach reported an 84% surge in its half-year pre-tax profit boosted by its acquisition including Skydive Wanaka, which it bought in July last year.

Wellington, Queenstown airports lose court appeals

Wellington and Queenstown airports have both lost separate Court of Appeal decisions over their runway safety areas.

Southern Discoveries invests $2m into “seamless” Milford tours

Southern Discoveries will enter Queenstown’s competitive coach sector after committing close to $2m to launch a fleet of coaches.

KiwiRail tourism services booming despite $9m Kaikoura hit

KiwiRail took a $9m hit in revenue due to the Kaikoura earthquake however tourism services on its Interislander ferry service was booming.

Air NZ betting on tourism growth, big events to arrest profit fall

Air New Zealand reported interim earnings before tax of $249m for the six months to 31 December 2015, down 24% on the same period the previous year.

Kiwi Experience revenue fall fails to slow THL growth

Tourism Holdings Limited’s (THL) New Zealand tourism operations saw earnings before interest and tax (EBIT) jump to $4.3m for the half-year to 31 December 2016, up 30% on the previous corresponding period.

Increased costs, competition eat into Air NZ revenue

Air New Zealand continues to report lower passenger revenue as rising fuel prices and increased competition take their toll.

Queenstown’s mayor is now Real Journeys’ chairman – conflict of interest?

Is Queenstown mayor Jim Boult's recent appointment to chairman of one of the region's most prominent tourism companies, Real Journeys, a conflict of interest?

Millennium & Copthorne Hotels NZ reports increased profit to $40.4m

PRESS RELEASE: Millennium & Copthorne Hotels New Zealand Limited Millennium & Copthorne Hotels New Zealand Limited (NZX: MCK) today reported its preliminary results for the...

Record passengers lift Christchurch Airport interim profit over $18m

Christchurch Airport reported a record 3.24m passengers passed through its gates in the six months to 31 December 2016 driving interim net profit to...

Queenstown Airport sees passenger numbers jump 13%

Following a strong Christmas and New Year travel period, passenger numbers at Queenstown Airport increased 13% over January.

SkyCity’s NZICC on track but it’s not committing to other expansion plans

The $700m New Zealand International Convention Centre and Hobson St hotel projects remain on-budget and on-target despite owners SkyCity remaining uncommitted in other expansion plans.
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