An Empirical Modelling of New Zealand Hospitality and Tourism Stock Returns

Table 2

Beta estimates for hospitality and tourism companies, 1999(3)–2012(9).

Company	Beta	t-stat	𝑅^2
Auckland International Airport (AIA)	0.876	8.43	0.31
Air New Zealand (AIR)	1.250	5.32	0.15
Millenium & Copthorne Hotels (MCK)	0.561	3.60	0.08
New Zealand Experience (NZE)	0.142	0.48	0.001
Restaurant Brands (RBD)	0.645	4.29	0.10
Sky City Entertainment (SKC)	1.081	10.48	0.41
Tourism Holdings (THL)	1.573	8.93	0.33