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The Business of Tourism
 
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The Business of Tourism

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  News   Recovery   Opinion
Tuesday 05 March 2024
Roundup   Jobs   Calendar  

Corporate & Results

Chinese visitors driving faster NZ skydive recovery for Experience Co
5 Mar 2024   /

Chinese visitors driving faster NZ skydive recovery for Experience Co

The Australasian adventure operator says it saw the most pronounced recovery in Queenstown during the Chinese New Year at its NZONE skydive business.


Airways NZ reports $13m half-year profit
4 Mar 2024  

Airways NZ reports $13m half-year profit

Airways New Zealand has reported a profit of $13.4m for the half year to December 2023, up from nearly $2.6m during the same period in 2022.


Interim revenue jumps 53% for KiwiRail’s scenic services, surpassing pre-Covid
1 Mar 2024   /

Interim revenue jumps 53% for KiwiRail’s scenic services, surpassing pre-Covid

“Our scenic tourism business provided a highlight, with a return to 70% of pre-Covid passenger levels,” says the rail and ferry operator.


Christchurch Airport puts Tarras project on hold…
28 Feb 2024   /

Christchurch Airport puts Tarras project on hold…

It comes after discussions with council-controlled owner CCHL, which said it supports the decision.


Millennium & Copthorne returns to FY profit, revenue tops $100m
27 Feb 2024   /

Millennium & Copthorne returns to FY profit, revenue tops $100m

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Competitors have “unsustainably low” airfares, domestic price rises to impact leisure travel – Foran
23 Feb 2024  

Competitors have “unsustainably low” airfares, domestic price rises to impact leisure travel – Foran

Air NZ’s boss also warns that the airline’s plan to lift domestic airfares could impact leisure travel demand.


Outdoor, adventure retailer Torpedo7 sold for $1
23 Feb 2024  

Outdoor, adventure retailer Torpedo7 sold for $1

The Warehouse Group has sold its outdoor adventure and sports retail brand Torpedo7 business for $1.


Air NZ reviewing pricing, capacity as H1 profit falls sharply…
22 Feb 2024  

Air NZ reviewing pricing, capacity as H1 profit falls sharply…

The airline’s revenue rises thanks to the ramp-up of international capacity but costs also grow.


North America “particular highlight” for Auckland Airport as interim profit jumps 115%
22 Feb 2024  

North America “particular highlight” for Auckland Airport as interim profit jumps 115%

Aeronautical income surges thanks to the increase in travel demand.


SkyCity H1 profit dips despite Auckland visitation up 8%
22 Feb 2024  

SkyCity H1 profit dips despite Auckland visitation up 8%

The Sky Tower recorded a 31% increase in visitation.


Queenstown Airport pays QLDC $4m interim dividend
21 Feb 2024  

Queenstown Airport pays QLDC $4m interim dividend

The airport says sustained demand for travel to the resort, particularly from Australia, had resulted in “a strong financial performance”.


Weak winter sees Kathmandu sales drop
21 Feb 2024  

Weak winter sees Kathmandu sales drop

KMD Brands says its outdoor retail chain Kathmandu has seen softer trading since June 2023 due to a poor winter.


Record results for THL’s tourism experiences
20 Feb 2024   /

Record results for THL’s tourism experiences

The Women’s FIFA World Cup and a faster-than-expected recovery in the Chinese market has driven revenue at the operator’s tourism division.


Air NZ warns of “markedly lower” earnings as competition heats up, domestic demand cools
19 Feb 2024  

Air NZ warns of “markedly lower” earnings as competition heats up, domestic demand cools

The airline says it expects its FY24 earnings to be in the range of $200m to $240m, down from FY23’s $585m.


More bad news for SkyCity as DIA preps legal action
12 Feb 2024   /

More bad news for SkyCity as DIA preps legal action

The company says it could be liable for up to $8m in penalties.


SkyCity preps $79m payment over Adelaide casino breaches
2 Feb 2024  

SkyCity preps $79m payment over Adelaide casino breaches

SkyCity Entertainment Group has set aside $79m for a potential penalty arising out of the Australian government’s probe into its Adelaide casino.


RAL generates $22m in 2023, but another dispute lands in court
29 Jan 2024   /

RAL generates $22m in 2023, but another dispute lands in court

The beleaguered operator returns to profit as the deadline looms for submissions on Tūroa’s future, which includes $32m in proposed upgrades.


THL expands in Aus again with $13m acquisition
23 Jan 2024   /

THL expands in Aus again with $13m acquisition

THL has signed an agreement to acquire Australian RV sales dealership Camperagent RV Centre for A$11.9m (NZ$12.87m).


Napier Port on track for 91 cruise vessels
16 Jan 2024   /

Napier Port on track for 91 cruise vessels

Napier Port says it saw 20 cruise vessels during the first quarter of its FY24, which covered the three months to 31 December 2023.


Demand softening in “increasingly challenging” environment – Air NZ
13 Dec 2023  

Demand softening in “increasingly challenging” environment – Air NZ

The airline says its FY24 earnings will be at the lower end of expectations due to weaker demand and increasing competition.


SkyCity pays $204m compensation over Auckland car park
11 Dec 2023  

SkyCity pays $204m compensation over Auckland car park

SkyCity Entertainment Group will pay $204m in compensation to Macquarie Group subsidiary MPF Parking NZ Limited over the casino and hotel operator’s Auckland car park.


SkyCity downgrades earnings guidance
8 Dec 2023  

SkyCity downgrades earnings guidance

SkyCity Entertainment Group now expects its normalised EBITDA for the year to June 2024 to be between $290m and $310m.


Entrada expands in Aus with Greyhound acquisition
5 Dec 2023   /

Entrada expands in Aus with Greyhound acquisition

The InterCity owner now controls Australia’s nationwide coach operator.


THL reiterates $100m target on strong yields, supply recovery
29 Nov 2023  

THL reiterates $100m target on strong yields, supply recovery

Tourism Holdings has reiterated its target of making $100m in net profit after tax for its 2026 fiscal year.


Skyline interim profit jumps, scopes “exciting new opportunity”
28 Nov 2023  

Skyline interim profit jumps, scopes “exciting new opportunity”

Skyline has reported a good set of interim results and is is working on “an exciting new opportunity” in Europe.


M&C “disappointed” in penalty size for rule breaches
16 Nov 2023   /

M&C “disappointed” in penalty size for rule breaches

Millennium & Copthorne Hotels says it is “disappointed” by a $50,000 penalty imposed on the business as a result of breaches of NZX listing rules.


Cruise return boosts Napier Port by $5m
16 Nov 2023   /

Cruise return boosts Napier Port by $5m

Napier Port revenue has risen $118.4m in the 2023 financial year thanks in part to the return of cruise.


Better than expected business travel pushes Serko interim revenue up 87%
15 Nov 2023   /

Better than expected business travel pushes Serko interim revenue up 87%

Serko has reported a strong set of interim results following what it calls “high revenue growth” across its divisions.


THL pays $660k in staff bonuses
13 Nov 2023  

THL pays $660k in staff bonuses

THL has paid $660,736 for bonus payments to its permanent staff.


Auckland Airport raises $378m in Australia
10 Nov 2023  

Auckland Airport raises $378m in Australia

Auckland Airport says it has successfully completed a new A$350m ($378m) Australian medium-term notes issue.


Ngāi Tahu Tourism returns to profit
7 Nov 2023   /

Ngāi Tahu Tourism returns to profit

Ngai Tahu Tourism has reported an operating surplus of $0.7m for the year to June 2023, up from the $7.6m loss it reported for the previous year.


SkyCity takes bookings for 5-star Horizon, sets open date 
7 Nov 2023  

SkyCity takes bookings for 5-star Horizon, sets open date 

Horizon by SkyCity will open to guests on 1 March 2024, with bookings now open for the new 303-room hotel.


THL, Webster finalists in Deloitte Top 200 Awards
2 Nov 2023   /

THL, Webster finalists in Deloitte Top 200 Awards

Tourism Holdings has been shortlisted for Company of the Year in the Deloitte Top 200 Awards.


Strong cruise return for South Port
1 Nov 2023   /

Strong cruise return for South Port

The operator of the country’s southernmost deepwater port says cruise has made a strong recovery,


Online gambling regulation needed to tackle fake sites – SkyCity
1 Nov 2023   /

Online gambling regulation needed to tackle fake sites – SkyCity

SkyCity Entertainment Group has called for the regulation of online gambling in New Zealand to help stamp out fraud and rogue gambling sites.


Wellington Airport pays $44m dividend, sees new Aus service launch
30 Oct 2023   /

Wellington Airport pays $44m dividend, sees new Aus service launch

Qantas becomes the largest international carrier servicing the capital in what it calls “good news for tourism in NZ”.


SkyCity “disappointed” in Auckland, Adelaide casino failures
27 Oct 2023  

SkyCity “disappointed” in Auckland, Adelaide casino failures

SkyCity Entertainment Group chair Julian Cook says the company is disappointed it had failed in its obligations at its Adelaide and Auckland casinos.


Auckland Airport closes $250m bond offer
27 Oct 2023  

Auckland Airport closes $250m bond offer

Auckland International Airport Limited has closed its offer of $250m of unsecured, fixed-rate, six-year bonds.


Auckland Airport launches $200m bond offer
24 Oct 2023  

Auckland Airport launches $200m bond offer

Auckland International Airport Limited is offering up to $200m of six-year fixed-rate bonds to New Zealand retail and institutional investors.


THL targets $100m profit for FY26
20 Oct 2023  

THL targets $100m profit for FY26

Tourism Holdings has set a $100m target for its net profit for its 2026 fiscal year.


ComCom seeks submissions on NTT’s proposed KJet buyout
20 Oct 2023   /

ComCom seeks submissions on NTT’s proposed KJet buyout

The Commerce Commission is seeking submissions on Ngāi Tahu Tourism’s proposed acquisition of Queenstown operator KJet.


Auckland Airport boosts staff, enhances border, baggage systems to tackle challenges
17 Oct 2023  

Auckland Airport boosts staff, enhances border, baggage systems to tackle challenges

Auckland Airport says it has increased staff numbers, introduced new border-check lanes, and improved its baggage system to address the issues it has suffered since the country’s borders reopened.


Auckland Airport considers retail bond offer
17 Oct 2023  

Auckland Airport considers retail bond offer

Auckland International Airport Limited is considering an offer of fixed-rate bonds maturing in November 2029 to New Zealand retail investors and to institutional investors.


Air NZ guides interim earnings of $180m – $230m
12 Oct 2023  

Air NZ guides interim earnings of $180m – $230m

Air New Zealand says it expects its FY24 half-year earnings before tax to be in the range of $180m to $230m before tax.


Why I sold Ezi Car – Kevin Walker on the unexpected opportunity
10 Oct 2023   /

Why I sold Ezi Car – Kevin Walker on the unexpected opportunity

The former owner of one of the country’s largest rental car businesses tells the Ticker about a surprise offer.


Airways edges back into the black
9 Oct 2023  

Airways edges back into the black

Recovery in the aviation sector has pushed Airways New Zealand’s annual profit back into black, with a net profit after tax of $5.4m for FY2023.


Tourism recovery drives scenic train services, Interislander rebound – KiwiRail
3 Oct 2023  

Tourism recovery drives scenic train services, Interislander rebound – KiwiRail

The SOE’s scenic train operations saw revenue jump more than 600% in FY23.


Hawke’s Bay Airport revenue takes off
3 Oct 2023  

Hawke’s Bay Airport revenue takes off

Hawke’s Bay Airport has reported revenue of $12.7m for the year to June 2023, up 89.6% on the previous corresponding period.


Air NZ warns of headwinds as costs rise, domestic demand softens
26 Sep 2023  

Air NZ warns of headwinds as costs rise, domestic demand softens

The airline also notes increased competition coming from Qantas, and US and Chinese carriers.


Skyline postpones shareholders meeting
25 Sep 2023  

Skyline postpones shareholders meeting

Skyline Enterprises has postponed its annual shareholders meeting until October due to the impact of last week’s state of emergency in Queenstown.