Tourism group RealNZ to sell off some of its businesses

July 5, 2023

Popular tourist attraction Queenstown Jet Boats are among the businesses seeking new owners as tourism group RealNZ looks to slim down its portfolio.

RealNZ is home to several brands and businesses, including the Queenstown Ferry to Whakatipu Basin, Walter Peak and Stewart Island Lodge.

Acting chief executive Paul Norris said the group is looking to the future after a "turbulent few years" following the Covid-19 pandemic.

"We are fortunate to live and work in arguably the most beautiful and protected part of Aotearoa New Zealand, so we need to be critical about what experiences we offer," Norris said.

As part of its plans for future growth, the group is looking to improve its offering for visitors to historic homestead Walter Peak, which is accessed by sailing across Lake Whakatipu on the 1912 steamship TSS Earnslaw.

RealNZ has now entered into a sale and purchase agreement with Southern Discoveries to take ownership of vessel the Spirit of Queenstown.

"If successful, and concluding the conditions of the offer, the Spirit of Queenstown vessel would work alongside the TSS Earnslaw to provide further flexibility in access to Walter Peak as a destination," Norris said.

The business has also made the decision to seek out new owners for Queenstown Jet Boats and the Queenstown Ferry for the Whakatipu Basin.

Norris said while the jet boat service is "a lot of fun for guests" and the water taxis provide "a valuable service for the community", the offerings are "a step away from our core focus as a business".

Also up for sale is the International Antarctic Centre in Christchurch, and the Stewart Island Lodge and surrounding property after it "reached its potential within our portfolio".

RealNZ will continue to operate the impacted businesses until new owners are found.

Staff have been advised of the changes and will be informed on the progress around any potential sale of the affected businesses, he said.

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