A significant private capital raise by tourism giant RealNZ will be used to help it grow, invest in technology and expand, RealNZ CEO Stephen England-Hall said.

A group of leading Kiwi investors including Milford Asset Management, Rod Drury, Jonty Edgar, Martin Dippie, and Brendan Lindsay have joined RealNZ in what the company said was one of the largest private capital raises in New Zealand tourism.

RealNZ owns and operates numerous tourism companies in Queenstown Lakes including Treble Cone Ski Area, Cardrona Alpine Resort, and Queenstown Jet, as well as numerous others further afield.

“Following the appointment of CEO Stephen England-Hall, the last 12 months have been a period of significant change for RealNZ, with a fresh strategy, group-wide reorganisation, rebranding and common purpose all implemented, a purpose that has helped attract some of New Zealand’s leading investors and set RealNZ on a path to a stronger future,” RealNZ chair (and Queenstown Lakes mayor) Jim Boult said.

New funding will support RealNZ’s growth.

The investment coincides with the announcement of New Zealand’s staged border reopening.

“We are on a mission to accelerate the shift to sustainable tourism and this will help us do that,” Stephen England-Hall said.

Investors were chosen based on their connection to the regions RealNZ operates in, as well as their key areas of knowledge.

Founded by Les and Olive, Lady Hutchins, RealNZ has been family-owned since the 1950s and the family, who have also invested in this equity raise, will retain a majority shareholding in the business.

Stephen thanked the departing board members.

“I’d like to acknowledge the outgoing board members, particularly Jim Boult and Sue Sheldon, who have given incredible guidance throughout the capital raise process, and for their generous support through these challenging times,” he said. 

“This investment signals the start of the next chapter of RealNZ and I know they will all be proud to see where this journey takes our business next.”

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