The Royal New Zealand Yacht Squadron is projecting a trading loss of $1.6 million ahead of their next meeting.

Thursday's meeting will "immediately" review their operations to find a more sustainable business model.

BusinessDesk managing editor Pattrick Smellie says these losses are tied to the two years of Covid-19 that the Royal New Zealand Yacht Squadron endured.

Pattrick Smellie says that RNZYS have lost a huge number of members since the America's Cup left New Zealand for Barcelona, which likely contributed to financial losses.

LISTEN ABOVE

The Royal New Zealand Yacht Squadron is projecting a trading loss of $1.6 million ahead of their next meeting.
Thursday's meeting will "immediately" review their operations to find a more sustainable business model.
BusinessDesk managing editor Pattrick Smellie says these losses are tied to the two years of Covid-19 that the Royal New Zealand Yacht Squadron endured.
Pattrick Smellie says that RNZYS have lost a huge number of members since the America's Cup left New Zealand for Barcelona, which likely contributed to financial losses.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.