Skyline Queenstown attracts international as well as domestic tourists. Photo / File
Skyline Queenstown is finalising detail on a project to upgrade the tourism mecca's iconic gondola service in a scheme that chairman Mark Quickfall says will require "north of $100 million" of new investment.
The project reached a significant milestone on Wednesday with an Environment Court decision to grant a resource
consent for the project, which will install a new "state-of-the-art" gondola system, expand the complex at the top of the gondola, and add a new lower building and a 449-space carpark near the base terminal.
It sits on the outskirts of one of New Zealand's busiest tourist precincts.
Trading on the Unlisted platform, Skyline Queenstown will fund the project from a mixture of cash on its own balance sheet and bank debt.
"This is a fantastic result for the Queenstown community and the New Zealand tourism industry as a whole," general manager Wayne Rose said in a statement.
