Central North Island is trout country. You can get out on any of the designated lakes and waterways if you have your own gear and a fishing license -- but it's an even better idea to engage a local guide to take you to the right spots. Anglers rarely leave Lake Taupo, the lakes around Rotorua, or the rivers farther south around Turangi disappointed.
The eastern coast of the North Island has several excellent bushwalking trails, including the Tongariro Crossing, which brings you through the alpine areas in Tongariro National Park. Some of the most rugged bush in the country is in Te Urewera National Park southeast of Rotorua, and hiking opportunities abound around Rotorua and Taupo. Just don't tackle the mountain terrain unprepared -- the weather in this region can change rapidly.
Rotorua may be the best place in New Zealand to try the Maori feast known as a hangi. Traditionally, the meal is made by lining a hangi pit, or earth oven, with heated stones and wet leaves, and then filling it with lamb, pork, chicken, seafood, potatoes, pumpkin, and kumara (sweet potato). Nowadays, the food may well be prepared above ground, but when it's done well, it doesn't lose much in the translation.
In Rotorua and Taupo, thermal springs are literally on tap. You can soak in your own thermal bath in even the cheapest hotels in Rotorua or take advantage of public facilities such as Polynesian Spa. Many Taupo motels and hotels also have their own thermal baths or pools. Lie back and close your eyes. You'll be amazed at how relaxed you feel afterward.
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