Having put them up for sale last year, tourism giant RealNZ is selling both Queenstown Ferries and its Queenstown jetboat business to Queenstown Marina owner Iraj Barabi and his sisters.
Presently, the ferries run 11 times a day — 10 times at the weekend — between Queenstown Bay and Hilton Hotel with stops at Bay View and the marina.
The service is run in collaboration with the Otago Regional Council, which provides a subsidy.
"We will provide services as they demand," Mr Barabi said.
"However, we feel the lake is not being utilised to its full potential."
He was convinced water transportation could alleviate congestion on the roads.
"More frequent services, extended hours, higher capacity and more destinations as well as bigger, better boats are what is needed.
"We are willing and motivated to pursue every one of these avenues."
Jack’s Point and Shotover Country would benefit from a reliable ferry service.
He had long harboured the idea of buying the jetboat business — back to when Neville Kelly owned and operated it before selling it and Queenstown Water Taxis Ltd to RealNZ (then Real Journeys) in 2018.
Mr Kelly ran the business as Thunder Jet.
In a back-to-the-future move, Mr Barabi has hired him "to help begin Thunder Jet 2.0".
"We have a great team along with the resources and determination to enhance all aspects of the company while enjoying every minute of it."
A Silicon Valley entrepreneur who calls Queenstown his second home, Mr Barabi confirmed the $10million second stage of the marina had been completed on time and on budget — 112 berths in addition to the original 85 launched before Covid.
Over 85% of the floating sheds had also been leased, the latest additions being a bakery and a pilates studio.
"And I have heard a new jetboat company will be operating from the marina," he quipped.
Meanwhile he is also set to enter Queenstown’s spa tourism sector.
He has just received resource consent to build a hot pools complex around two sides of the Brecon St mini golf course after buying the site, with his sisters, for almost $15.5m late last year.
Building will start next month, with a planned opening in April next year.
