Queenstown firm pays cool $35m for Cardrona

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Cardrona Alpine Resort’s Australian vendor has revealed that Queenstown-based tourism giant Real Journeys has paid more than $35 million to buy the skifield.

Vealls Ltd provided the confidential information to the Australian Securities Exchange on settlement of the transaction last Friday.

The $35,596,000 sum covered “the net proceeds of the sale of the assets and the business of the vendor, that also encompassed the operations of the skifield over the ski season (July-October 2013)”.

Real Journeys – which operates Queenstown’s historic Earnslaw steamship on Lake Wakatipu, Fiordland cruises and several other tourism interests – was named as preferred bidder for Cardrona in May this year.