Skyline

[Beagle]

https://www.nzherald.co.nz/business/...ectid=12327271

Very pleased I decided to avoid this one back in 2017 in the $25 range. Some very difficult years ahead. They should just scrap their $250m Queenstown expansion plans. Tourism volumes are likely to stay low for many, many years.

[Arthur]

Truth be told Beagle your analysis helped me pull the trigger when the price dropped 50%. I reckon taking a five year view it is a safer bet than Auckland Airport. Here is my guess - within six months Korea and Canada will be back to near normal. Their Queenstown, Singapore and Rotorua operations will be at about 75% of the recent peak. Christchurch Casino will be about 90%. The Queenstown hotel will be bundled with Gondola packages to keep up occupancy rates. Sheffield will go ahead but the NZ projects will be right sized (unless the Local and Central Governments view the upgrades as infrastructure and reduce the redtape)

[Beagle]

To be clear, at no point have I considered this stock worth buying otherwise I would have actioned it myself. I see the rebulbing of tourism very differently to you Arthur but I wish you well and hope I am wrong. I wouldn't own AIA, AIR, SKC or THL either.

[Snoopy]

To be clear, at no point have I considered this stock worth buying otherwise I would have actioned it myself. I see the rebulbing of tourism very differently to you Arthur but I wish you well and hope I am wrong.

Beagle's worst fears confirmed?

https://www.odt.co.nz/business/skyli...ing-staff-half

Half of all staff gone. But pig headedly going ahead with the $200m gondola upgrade in Queenstown. I must say I was surprised to see the staff cuts extend to Korea where I thought a path out of the Covid crisis was becoming clearer.

SNOOPY

[Sideshow Bob]

Beagle's worst fears confirmed?

https://www.odt.co.nz/business/skyli...ing-staff-half

Half of all staff gone. But pig headedly going ahead with the $200m gondola upgrade in Queenstown. I must say I was surprised to see the staff cuts extend to Korea where I thought a path out of the Covid crisis was becoming clearer.

SNOOPY

But asking for Govt infrastructure funding to assist with their expansion...…!!

Probably a telling case in terms of jobs/employment. The 600+ staff are losing their jobs from when the wage subsidy runs out. So circa 6 weeks through, 6 weeks to go.

[whatsup]

Yes double or triple wammy , cost over runs, tourist drop off and constant increasing over heads, not a good mix !!

Not surprised with todays only surprised that it took so long, " you cannot push water uphill with a rake " !

[Sideshow Bob]

Ngai Tahu Tourism today announced they were cutting their staff from 348 to 39! Most finishing in June or July.

Most of their businesses are going into "hibernation", including the Shotover Jet. That will be a killer for Qtown, being so iconic.

[JBmurc]

Ngai Tahu Tourism today announced they were cutting their staff from 348 to 39! Most finishing in June or July.

Most of their businesses are going into "hibernation", including the Shotover Jet. That will be a killer for Qtown, being so iconic.

Yes just brutal .... worse ever outcome pure nightmare for the likes of Qutown jobs

[Joshuatree]

Truth be told Beagle your analysis helped me pull the trigger when the price dropped 50%. I reckon taking a five year view it is a safer bet than Auckland Airport. Here is my guess - within six months Korea and Canada will be back to near normal. Their Queenstown, Singapore and Rotorua operations will be at about 75% of the recent peak. Christchurch Casino will be about 90%. The Queenstown hotel will be bundled with Gondola packages to keep up occupancy rates. Sheffield will go ahead but the NZ projects will be right sized (unless the Local and Central Governments view the upgrades as infrastructure and reduce the redtape)

Like your contrarian longterm plan there Arthur which eliminates most of us who want results NOW!
Zigging while everyone else is zagging, hope it goes well and yes great money making assets there that cant be easily replicated.

[Arthur]

Thanks Joshuatree. I'll credit Beagle and Snoopy if it goes right and put on my big boy pants if it does not work. The way I think about it investing is taking a long term view. I financed it by selling a chunk of my Blis (bought at an average of below one cent) also got into PAZ at less than 6 and Syft at diddly squat when they were in it donkey deep. I've had my share of failures, but they never loose more than 100%. I suspect my Skyline will be a hold forever. There is an irrational, but worthy feeling of owning a business that you can support. I'm hoping that Beagle will be lured back to the Skyline Buffet with a few mates (but eat the potatoes and not the prawns)