Speculation around what is arguably the country’s most talked-about pub group continues, as investment banks look to realise $700m out of Australia’s smokin’ hotel sector. The A-list portfolio that makes up Redcape Hotel Group has been seeking a suitor for more than two years. Its New York hedge fund owners York Capital and Värde have […]
For most business owners, the focal point of a loan offer is on the all-important margin. While this is a key ingredient, I consider it to be just one of the many key points that make up a truly great loan offer provided by a financial institution. In my mind, the length of the loan,
The pub fund play to sell in a hot market has attracted another big name with Australian Pub Fund (APF) and Riversdale listing two of the best in time for Christmas. The dollar nous behind APF is comprised of business celebrity John Singleton, former Qantas boss Geoff Dixon and investment banker Mark Carnegie, who launched
RIVERSDALE’S AUSTRALIAN PUB FUND READY TO CASH OUT Read More »
Lantern Hotel Group’s AGM yesterday saw shareholders pass a resolution to sell down the remaining six properties in the portfolio, meaning more key assets to meet a starved market. Following successes divesting all its ‘non-core’ pubs in line with the mandated turnaround strategy for the flailing company, achieving an 18.5 per cent premium to book
The much-anticipated future of The Keystone Group portfolio remains undetermined, as news emerges of a shrinking short-list and Dixon Hospitality eyeing seven of the 17 venues. After falling foul of financiers, a high-profile campaign for the well-known Keystone portfolio has been conducted through CBRE Hotels by receivers, Ferrier Hodgson (FH). FH’s Morgan Kelly reports Dixon
Pub giant and active transactor Arthur Laundy has quashed rumours he is close to buying the $700 million Redcape portfolio. As the Australian pub industry waits with bated breath the fate of the New York hedge-fund-owned collection of big-performance gaming hotels, The Australian reported Laundy and Theo Karedis “wading” into the race. PubTIC spoke to
As the money-shuffling strategies of its hedge fund owners continues, another potential sales process has emerged for Australia’s high-profile pub group. New York-based Värde Partners and York Capital Management hold the deeds to the gaming-centric Redcape Hotel Group, but will at some point cash in their interests to realise their investment. They acquired the troubled
Australia’s biggest pub operator is the crux of a profitability dilemma for its majority owner Woolworths, as the supermarket giant weighs up bottom line and a PR crisis. Woolworth Limited (ASX: WOW) yesterday announced its full year results for FY16, which included for the first time performance figures for its Endeavour Drinks Group, operating the
The demonstrable turn-around of listed pub group Lantern has been seen in the company’s end of financial year report. Having announced plans to execute a formal ‘Transformation Plan’ (see below) at the end of 2015, the resulting changes to revenue and debt have brought significant upswings on the bottom line and a healthy dividend return
FIGURES SHOW LIGHT AT END OF TURNAROUND TUNNEL FOR LANTERN Read More »
ALE EOFY results saw dividend increases and prosperity predicted to arise from growth and opportunities in partnership with ALH – backed by flustered supermarket giant Woolworths. In days since the announcement (ASX: LTN) ALE’s securities have remained steady around $4.34 – trading at a healthy 71 per cent premium to their underlying value of $2.53.
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