International guest nights plumb 3-year low as tourism contracts

Wed, 14 Aug 2019

By Paul McBeth Aug. 14 (BusinessDesk) - New Zealand's accommodation operators reported the fewest monthly international guest nights for three years in June as the tourism boom tapers off. Statistics New Zealand's soon-to-be-defunct accommodation survey showed just 800,000 guest nights in June, down 3 percent from a year earlier. While June is traditionally a quiet month for international visitors, the decline was the seventh in a row and the lowest since June 2016. "June is the quietest month of the year for commercial accommodation...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market close

NZ sharemarket down slightly

The S&P/NZX 50 Index closed at 11,800.78, down 20 points or 0.17%.

Graham Skellern 6:15pm

Infrastructure

Port of Auckland lease proposal dead

The port has promised higher profits over the coming decade.

Oliver Lewis 3:00pm

Politics

Mfat accepts it mismanaged $33m

Foreign ministry says it takes the mismanagement of public funds seriously.

Dileepa Fonseka 2:40pm

Sponsored

The business redefining skincare

Why Kiwibank quickly got behind global beauty brand Emma Lewisham.

Kiwibank

Sponsored

Next-gen CCTV protecting our cities

Fibre connectivity supporting rapidly evolving CCTV advances.

Chorus

More Economy

Economy

Weak red meat prices drop ANZCO Foods' profit nearly 60%

But, unlike other major processors, it still managed to turn a profit.

Riley Kennedy 12:27pm

Economy

ANZ increases cash profit as net interest margins get squeezed

ANZ New Zealand has reported a 4% increase in its half-yearly profit despite pressure squeezing its margins.The bank's cash profit increased to $1.15 billion in the six months to March, up from $1.1b in the same period last year, but stable compared to the second half of its...

Riley Kennedy 10:50am