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Wellesley Cruise Business, Ship Offered For Sale

MEDIA RELEASE

WELLESLEY CRUISE BUSINESS AND SHIP OFFERED FOR SALE

The Wellesley Group is offering for sale its Wellington harbour cruise business along with the Wellesley cruise ship. This is a very successful business, with turnover approaching $1.0 million per annum, has the opportunity to develop further.

“We have built the harbour cruising business into a solid contributor to the group over the last three years and wish to see this growth continue. However, we believe the best way for that to happen is a franchise type arrangement with a new owner operating under the Wellesley brand” said a Director of the Wellington based Wellesley Group.

The Wellesley Group specialises in developing hospitality and tourism products, which are boutique in scale but have an element of adventure and style.

The Group has expanded rapidly with a number of interesting products in various stages of development.

These include:

- The Wellesley - A Boutique Heritage Hotel, Function Centre, Restaurant and Health Club in the Wellington Central Business District.

- The Wellesley Harbour Cruise Ship

- The Wellesley Resort in Fiji

- The Wellesley Apartments in London

- The Wellesley Hovercraft

- The Wellesley Camp and Conference Centre in Akatarawa

The Wellesley Group’s intention is to continue to grow but to franchise out those businesses with an established, proven and strong track record. The franchisees will benefit from the brand synergies with other Wellesley products.

“We expect that this business would appeal to a hands on entrepreneur looking for a business with a uniquely special appeal. It would continue to be supported by The Wellesley Group offering promotion, booking and branding support”, adds the Director.

The business is estimated to be worth in excess of $1 million and is being marketed by Paul Spackman of Harveys Wellington Central MREINZ.

Vendor finance is available providing the boat remains operating in Wellington.

The Wellesley Group wishes to see the boat continuing to operate in Wellington where it has a strong and loyal customer base. It will not be sold until 1st January 2005 to enable the current owner to deliver on existing bookings.

ENDS

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