NZ Milford Sound Cruising Company sold to Christchurch Investors
Mitre Peak’s Neil Sutherland has announced the sale for an undisclosed sum of the Milford Sound Cruising Company to Christchurch-based investors MTT Investments and Gould Holdings.
Mitre Peak Cruises operates two vessels on Milford Sound offering an extensive range of cruise options, although they specialise in smaller, more intimate cruises with approximately 50 passengers per cruise.
Mitre Peak Cruises was established in 1996 and began with one custom built vessel, Mitre Peak I, then added Mitre Peak II in 2004.
Purchasers of Mitre Peak, Gould Holdings and MTT Investments also hold interests in the Milford Dart tunnel proposal to build a 10.2 km tunnel providing access from Queenstown to Milford Sound in 2 hours, a substantial time saving on the current 5-6 hour journey.
Milford Dart will use low emission hybrid electric coaches to transport visitors to Milford Sound and the project represents the largest single investment in New Zealand tourism infrastructure.
Mr Sutherland said he was pleased to conclude the sale of the business, having fielded a number of expressions of interest in recent years, adding “Mitre Peak Cruises is a solid, locally based business and I am pleased to be remaining a director after the sale”.
Report by The Mole
John Alwyn-Jones
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