Finance

HPI’S TAKEOVER-BUSTING GROWTH STRATEGY

Posted on November 15th, 2024 by Clyde Mooney
Hotel Property Investments is embracing a strategy in line with its moniker, looking to a raft of opportunities in a virile market in a fight-back against the attempted takeover by Charter Hall and Hostplus. After an initial bid in September,

SEQ HOSPITALITY FALLS SHORT ON EUMUNDI TAKEOVER

Posted on November 4th, 2024 by Clyde Mooney
SEQ Hospitality, headed by rich-lister Nick Politis, has put up a $77 million bid for listed publican landlord Eumundi Group, but one major shareholder and hospitality player is holding out. Eumundi began as a craft brewery named after its location,

ATO FALLS ON VIRTICAL

Posted on September 27th, 2024 by Clyde Mooney
The strings are unravelling on the rise and fall of the skyrocketing Virtical Group, as the ATO unleashes the first of what could be many fines for improper tax claims. An audit, which is the first to emerge from what

RECEIVERS SNATCH VIRTICAL’S JUST SOLD REPUBLIC

Posted on September 23rd, 2024 by Clyde Mooney
Receivers have taken control of the Republic Hotel in Sydney’s CBD only days after Virtical signed to sell the property to Chris Thomas for a major loss, and as the group is accused of not paying staff Super. Under the

PUBLIC HOSPITALITY CREDITORS TAKE FIVE

Posted on September 18th, 2024 by Clyde Mooney
The party is winding down for Jon Adgemis’ Public Hospitality Group (PHG), as a major lender calls in receivers and managers on five venues in the collection. Last week FTI Consulting’s Vaughan Strawbridge and Joseph Hansell stepped in, under security

HOSTPLUS AND CHARTER HALL TAKE A SHOT AT HPI

Posted on September 16th, 2024 by Clyde Mooney
Listed real estate investment powerhouse Charter Hall and teamed again with Hostplus to attempt a takeover of the country’s last remaining listed pub landlord, Hotel Property Investments (HPI). Charter Hall Retail REIT (Real Estate Investment Trust) touts its interest in

ENDEAVOUR AND ALH FY24 RESULTS

Posted on September 4th, 2024 by Clyde Mooney
Endeavour Group has posted its full year results for FY24, detailing cost-cutting and portfolio hygiene in challenging economic times, yet seeing falling investor sentiment. ASX-listed Endeavour (ASX:EDV) is the holder of 350 pubs, retail outlets Dan Murphy’s and BWS, and

FINANCE AND A FRYING PAN FOR ADGEMIS’ PUBLIC

Posted on August 2nd, 2024 by Clyde Mooney
Aspiring hotelier Jon Adgemis has reportedly finally locked in the $400 million refinancing to save Public Hospitality Group, as lenders mandate management and a Masterchef joins the project. According to sources in finance, Deutsche Bank and other lenders have executed

MELBOURNE METRO FINDING ‘MARKET-DEFYING’ RESULTS

Posted on July 26th, 2024 by Clyde Mooney
Recent freehold sales in the Victorian capital signify the resurgence of activity in the market as sharp yields reflect both investor and industry interest. The freehold interest in the Cornerstone Hotel of Port Melbourne transacted in recent weeks at a

KINSELAS AND COURTHOUSE DEAL IN COURT

Posted on July 12th, 2024 by Clyde Mooney
The big-ticket sale of Kinselas and the Courthouse Hotel by MA Financial to operator-developer Virtical has fallen over, with parties now arguing the specifics in court. Last September news broke that Moelis was divesting the pair of pubs at Taylor