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Real Journeys buys its Walter Peak base

PRESS RELEASE

5 December 2013

Real Journeys buys its Walter Peak base


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Key New Zealand tourism player Real Journeys has purchased the land and facilities that underpin its Walter Peak operations from its landlords Convelle Enterprises Ltd.

The 155 hectare property situated at Beach Bay on Lake Wakatipu, 13km from Queenstown, includes the historic Colonels Homestead and surrounding buildings.  For decades Real Journeys have used this location to operate dining and farm experiences serviced by the 101-year old steamship the TSS Earnslaw.

Chief Executive Richard Lauder says the company is pleased to have had the opportunity to acquire what is a very special property.

“Walter Peak and the Colonels Homestead mean a lot to Real Journeys from both a historical and business perspective.

“We’ve recently made a significant investment  in upgrading the product offering with the refurbishments now complete and the gourmet BBQ menu just launched – to move from tenant to owner secures our position and enables future growth opportunities,” says Lauder.

Real Journeys Commercial Director Tony McQuilkin says since leasing 8 hectares of the property from Convelle in 1991 both parties have enjoyed a good relationship which has “certainly helped with the sale process”.

This is Real Journeys second purchase in a matter of weeks having recently acquired Cardrona Alpine Resort.  Lauder says both acquisitions signify Real Journeys willingness to diversify and grow.

“It’s also nice to be able to bring another iconic piece of New Zealand back into local hands,” says Lauder.

ENDS

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