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Member
Some good posts Beagle. Looked into Real Journeys and they look like a really attractive company, shame they’re not public, I’d be really interested in their shares.
J see they’re making the very smart move of building staffing accomodation to attract better quality long term workers. More business especially Queenstown ones would benefit from that kind of longer term thinking.
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Originally Posted by Mr Slothbear
Some good posts Beagle. Looked into Real Journeys and they look like a really attractive company, shame they’re not public, I’d be really interested in their shares.
J see they’re making the very smart move of building staffing accomodation to attract better quality long term workers. More business especially Queenstown ones would benefit from that kind of longer term thinking.
Real Journeys also have Cardrona, and not longed picked up Treble Cone pretty cheap. They have plenty of investment to be made in both, TC to get back up to speed of where it should be, and Cardrona with Soho lease to almost triple the size of their field. Cardies at their peak have over 5,000 people on field....weather and snow dependent, but get those right and it must crank.....
Spreads their risk over various tourism operations, and also have the Go Orange brand - targeting a different market.
Albeit all in tourism....interesting times currently. Would be good to have the opportunity for a slice. Great lunch at Walter Peak last time I went there.....Earnslaw was considerably lower in the water on the way back.
Having said that, Skyline have some amazing assets - but pretty capital hungry projects....hmmmm…...
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Companies office search shows the Wafare Group own 100% of the shares of Real Journeys Limited, formerly known as Fiordland Travel.
The fortunate shareholders of the Wafare Group are as follows https://app.companiesoffice.govt.nz/.../shareholdings
Some good old Southland families there and many enjoy some of their fine southern hospitality at the likes of Walter Peak Farm.
https://www.youtube.com/watch?v=Qd5lpOqQ3Xo
Last edited by Beagle; 25-02-2020 at 03:41 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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Maybe those Skyline shareholders are not so fortunate. Touching fresh multi year lows today, down 27% in the last year. Market not silly is it and thinks $250m for the refurbished Queenstown facility is too much. I predict it will head substantially lower.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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Have to feel sorry for them. Being hit hard with things totally out of their control https://www.stuff.co.nz/business/120...mbers-are-down
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Originally Posted by iceman
Yes double or triple wammy , cost over runs, tourist drop off and constant increasing over heads, not a good mix !!
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Originally Posted by whatsup
Yes double or triple wammy , cost over runs, tourist drop off and constant increasing over heads, not a good mix !!
Last trade $18 with no buyers left.
Down from $23.50 as recently as late January 2020 !
$250m capex for Queenstown...looks like it will REALLY stretch their balance sheet. I think they should simply put those approved plans "On Ice"
Interesting times coming for tourism operations, especially those with lots of debt.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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Minimum holding is 4000 shares, that is a pretty limited buying market.
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+ + + WOW Skyline down 44% today @ $10-00 albeit on very small volume ( 687 shares ) !!
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16-04-2020, 04:47 PM
#100
May be a beneficiary of having a shovel ready "infrastructure" product. The gondola is definitely a NZ icon that employs lots of people. There will be plenty of builders in Queenstown twiddling their thumbs. There are plenty of other projects that would not be as good for the economy as this one.
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