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Te Anau operators hoping for a Labour Weekend cash boost

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Barry Harcourt

Struggling tourism operators in Fiordland are hoping Labour Day weekend will bring a much-needed “short sharp” cash injection into the economy.

Annual spending in the region to August 2020 was down 23 per cent on the previous year to $200 million.

Fiordland is expected to see an $88 million decline in overall tourism spend through to Christmas because of the country’s borders being shut. That would be a 70 per cent drop in revenue.

Destination Fiordland manager Madeleine Peacock said hopefully Labour Weekend would be a bright spot in what would be a dark future.

However, she warned that “busy” didn’t mean the town would be as full as usual, and not everyone would benefit from more visitors.

“Domestic tourists spend differently. Kiwis are known to love their good wine and food,” she said, but they were less keen to spend on activities.

Fiordland is known as the walking capital of New Zealand but that tourism sector has also been hit hard after floods in February caused major infrastructure damage to Milford and Routeburn tracks.

It’s thought a month’s revenue has been lost but track repairs were expected to be completed the end of November.

Events scheduled in Te Anau this weekend included an annual fishing competition and art exhibition.

Te Anau Lakeview Holiday Park owner Jill Tauri said bookings did not look “too bad”.

Most visitors were leaving on Sunday instead of Monday, though.

Tauri expected this weekend to provide a “short and sharp” boost.

There was hope the accommodation could fill up during the weekend, and she had staff on standby just in case.

“Kiwis don’t book ahead. They just show up,” she said.

Fiordland Historic Cruises co-owner Adam Butcher said a busy Labour Day weekend, which was traditionally the start of the tourism season in Te Anau, would bring confidence that Kiwis were getting out and about, and that the town could expect a busy summer.

Fiordland Jet co-owner Chris Adams wasn’t too optimistic.

While “work dos” and group packages were doing well, day-to-day trade had not been “too flash”, he said.

On the upside, more Kiwis were now discovering Te Anau as a destination, he said.

He had met a couple of Aucklanders who visited on the recommendation of friends, because they’d never heard of the town before.

“They’re the groups that we’re hoping will come this summer,” Adams said.

Adams said it was important to encourage tourists to stay for a couple of days, rather than one night, because they would be more likely to spend more in the town.

Kiwi Country chief executive Noel Walker was also hopeful the town would be full of holidaymakers during the weekend, who would bring immediate cashflow.

Dot Loves Data government director Justin Lester said Te Anau had been significantly impacted by the loss of international tourists.

“We measure all regions of New Zealand and for the seven-day period to October 21, total consumer spending in the Southland District was down 16.3 per cent.”

Dot Loves Data and Eftpos NZ data shows accommodation and tourist attraction businesses have seen a 42.6 per cent and 48 per cent drop in spending respectively.

“Te Anau experienced a modest pick-up in the second half of June 2020, when consumer spending was four to six per cent above the 2019 levels, but since August 30, it has been consistently down 10 to 20 per cent,” Lester said.

Meanwhile, Peacock thanked Southlanders for their support in recent months.

“Every visitor counts for us and every night that someone stays helps a community keep its doors open,” she said.

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Radhika Apte reveals real reason why she got married

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Radhika Apte needs no introduction to Kollywood fans after her appearance as Superstar Rajinikanth’s wife in ‘Kabali’ directed by Pa Ranjith.  The intense actress impressed with her performance of a meek girl to a mother of a grown-up and especially her reunion scene with Rajini took the audience on an emotional ride.

Radhika is happily married to her British boyfriend Benedict Taylor who is a singer and she shuttles between Mumbai and London to balance her personal and professional life.

Radhika Apte in her most recent interaction with Vikranth Massey on social media from London has admitted that she does not believe in the institution of marriage.  When asked why she got married the talented performer replied that it is easier for married people to get a British visa and that’s why she and her man opted for it in 2012.

Radhika is currently chilling with Taylor in their London home during the lockdown and will soon start filming her next English film ‘Noor Inayat Khan’ in which she plays a spy based on a true story.

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Jacqueline Fernandez shares picture of her being in ‘happy place’

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Actor Jacqueline Fernandez is working on a secret project where she found herself in a ‘happy place’. Taking it to Instagram on Sunday, the 35-year-old actor shared a picture dressed up like a traffic police officer as she is seen laughing her heart out.

“How was everyone’s Sunday?? Fun project coming up soon! #myhappyplace,” wrote Fernandez along with a picture where she is also seen holding a coffee mug. The ‘Kick’ actor also shared a few Instagram stories of her getting ready for the upcoming project.

Recently, the actor extended gratitude to her fans after the number of Instagram followers hit the 46 million mark.

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Why an ‘active’ approach to risk modelling is key to navigating markets today

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Whether investors are aiming for a cautious approach or a riskier investment profile with the potential for higher returns, Architas’ Blended Fund range is designed to match a range of investor risk appetites. And like many asset managers, Architas predominantly uses two approaches to define asset allocation within the five risk bands used in the Blended Range – strategic and tactical.

Whilst risk model provider EValue’s quantitative approach to asset allocation takes into account the long-term performance of different asset classes and the likely future performance given current valuations, along with long-term measures of volatility and correlations with other asset classes. Yet as with most systems of its kinds, EValue focuses on the long term; it is unable to analyse short-term market movements and fluctuations. So whilst it would have seen that in Q1 2020 markets fell by a record percentage before rebounding, it will not be able to factor in the cost of the coronavirus and lockdown and its impact on markets. Similarly, it is not able to consider ongoing Brexit woes, geo-political trade wars or the outcome of the US election in 2020.

Click here for the full article and to access more about the flexibility of the Architas Blended Range by clicking on the box below.

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