Polin Waterparks
Polin was founded in Istanbul in 1976, and has since grown into a leading company in the waterparks industry. Today Polin is one of the world leaders in the design, production, and installation of…
read moreExperience Co, Far North Queensland’s largest biggest tourism operator, has revealed a half-yearly net loss of $200,000 in its results to 31st December.
Experiencing a significant downturn in income, the ASX-listed company’s losses were offset by the $27 million sales of hot air ballooning operations and Cairns-based white water rafting firm Raging Thunder.
In a notice to shareholders, Experience Co Chief Executive, John O’Sullivan said the results could have been worse, advising “we are pleased to have recommenced all core operations by the end of the first half, and more so, that we are a tourism business generating cashflow. Our business has seen resilient consumer demand, despite the pandemic and uncertainty of interstate borders.”
O’Sullivan also indicated opportunities that might exist to acquire rival businesses after JobKeeper ends while revealed details of the progress of the company’s new $6.7 million floating pontoon-based hotel to be moored at Moore Reef on the Great Barrier Reef.
Construction is well under way ahead of the attraction’s 2022 launch as an extension of the Dreamtime Dive and Snorkel indigenous sea ranger tours.
The two-storey structure will have a purpose-built laboratory - the first of its kind on the Great Barrier Reef - and a floor-to-ceiling underwater observatory, all built at Cairns shipyards.
The multimillion-dollar attraction has been backed by a $3 million contribution from the Queensland Government with Experience Co financing the remaining $3.7 million cost.
Looking forward, O’Sullivan stated “we remain grateful to governments at all levels for their financial and non-financial support and we look forward to continuing to work together as the industry emerges from the pandemic.”
As for future acquisitions, he noted “we are still very active in monitoring what’s out there.”
Anticipating that international arrivals will be unlikely for a lengthy period, O’Sullivan predicted the skydive business could reach about 50% of normal operations in Australia, but only 20% in New Zealand while reef tourism operations could get up to the 40-50% mark.
O’Sullivan concluded “that’s not assuming any pick up, if you will, of people suddenly having pent-up demand for travel.
“Those are very directional estimates, but they’re sort of the trend lines that are starting to emerge.”
Founded in 1999, Experience Co offer adventure experiences of tandem skydiving, hot air ballooning, white water rafting, canyoning, sea kayaking, and tours to the Great Barrier Reef.
The company currently has numerous locations throughout Australia and New Zealand.
Images: Construction is advancing on Experience Co's new Dreamtime Island tourist pontoon to be stationed at Moore Reef from 2022 (top, credit: Experience Co) and Experience Co's John O'Sullivan (below).
18th February 2021 - Australia’s $45 billion export tourism Industry at risk without JobKeeper replacement
12th February 2021 - Seek jobs website shows rise in demand for hospitality and tourism staff
11th February 2021 - Tourism Australia launches new campaign to boost business events across Australia
4th February 2021 - Visit Sunshine Coast and Tourism Noosa partner in launching new tourism campaign
1st February 2021 - Without JobKeeper Australian tourism businesses face ‘annihilation’
1st February 2021 - Queensland tourism industry anticipates Easter boost from Sydney visitors
30th January 2021 - Australian tourism industry unites to call for post-March Federal Government business support
21st January 2021 - Australian tourism industry haemorrhaged almost $7 billion over the summer holidays
20th January 2021 - WTTC predicts over 100 million global tourism jobs could be recovered during 2021
19th January 2021 - Tourism Australia Managing Director predicts top global travel trends for 2021
15th January 2021 - Queensland Government announces $200,000 in new funding for cultural tourism
7th January 2021 - Cairns’ Tjapukai Aboriginal Cultural Park to close as COVID-19 hits tourism business
29th December 2020 - Preparing for a tourism revival in 2021
18th December 2020 - Cabinet reshuffle sees Dan Tehan named new Federal Tourism Minister
30th October 2020 - Cairns Regional Council endorses plan for Reef management
23rd October 2020 - New Tourism Tropical North Queensland leader to guide region’s recovery
31st August 2020 - $11.3 million funding boost announced for Far North Queensland tourism
13th June 2020 - Cairns Convention Centre redevelopment completion delayed by three months
10th February 2020 - Experience Co cuts Cairns tourism jobs in restructuring
31st July 2019 - Tourism Tropical North Queensland partnerships help Chinese visitors gain insight into Green Island
25th June 2019 - Underwater hotel planned for Great Barrier Reef
6th May 2019 - Staff shake up at Tourism Australia
12th January 2018 - Company behind Queenstown skydiving accident ceases trading
5th December 2017 - Sunlover Reef Cruises launches new pontoon for half day reef tour
16th October 2017 - Mission Beach skydiving operations suspended after triple fatality
19th January 2015 - Skydivers survive plane crash over Lake Taupo
Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?
The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.
However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.
Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.
Subscriptions cost just $90 a year.
Click here to subscribe.
The Complete Guide to Leisure Industry Products & Services.
Polin was founded in Istanbul in 1976, and has since grown into a leading company in the waterparks industry. Today Polin is one of the world leaders in the design, production, and installation of…
read moreHidroplay welcomes you to the exciting world of children's Playscapes, waterslide's and Water Attractions. Appealing to families, Hidroplay increases patronage in your facility during those…
read moreSmart Connection Consultancy is a boutique sport and recreation consultancy who has become one of Australia’s leading advocates for the use of synthetic sports surfaces as a vehicle to grow…
read moreSeatGeek is a search engine and mobile-focused ticket marketplace that allows fans to buy and sell tickets for live events. As of August 2018, SeatGeek has exited the Australian, New…
read moreOtium Planning Group is a contemporary sport and leisure consultancy providing services in planning, facility development, management and funding for the sport, recreation and leisure industries…
read moreWe are the leading providers of kids fun multi-sports programs for Sport and Recreation Centres. Programs cover twelve common sports as well as Gross Motor Skill Development and suit children from as…
read moreINTRODUCTION Abel Sports is Australia’s leading manufacturer and suppliers of Goal Posts, sports ground safety netting systems and coaches boxes for Stadiums ,Sports Clubs, Councils and…
read moreAnti Wave International is the original suppliers of top performance swim, aquatic sports, leisure and pool programming equipment. Founded in 1971, Anti Wave International is proud of its…
read moreGet your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!