Australia’s largest drinks and hospitality business, the recently listed Endeavour Group (ASX:EDV), has announced its first end of financial year results, finding a less than positive reaction. After splitting from parent company Woolworths (ASX:WOW) in June, Endeavour hit the open market boasting a portfolio of 1,643 retail stores and 339 hotels under Australian Leisure & […]
Wallaby hotelier Bill Young has listed his twice-loved Friend in Hand of Glebe, to focus on the family’s growing stable of large-format pubs. Built 1858, the two-storey Friend is a vestige of Glebe’s blue collar past. It is close to the big Broadway Shopping Centre and adjacent to Roxy Pacific’s West End Residences development of
Redcape has announced its full-year financial results, along with proposal it delists its dissatisfying shares from the ASX. Today Redcape Hotel Group Management, as the responsible entity of the Redcape Hotel Group (ASX:RDC), announced financial results for year ending 30 June 2021. The news was highlighted by statutory net profit after tax (NPAT) up 153.6
On the eve of its debut on the ASX and uncoupling from Woolworths, ALH is looking to let loose the cheque book to secure further acquisitions and market share in accommodation. Billionaire major shareholder Bruce Mathieson has said “people will be surprised” by the kind of properties ALH is looking to buy in its aggressive
Australia’s largest publican is set to go it alone, as shareholders approve the demerger of Endeavour and ALE quietly divests more of the coveted ALH freeholds. On Friday 360k Woolworths shareholders overwhelmingly approved the spin-off of Endeavour Group from the parent company, paving the way for it to begin trading on the ASX as a
Australian Venue Co continues its lavish Investment into south-east Queensland, with more acquisitions and two more of two dozen planned renovations underway. The corporate allegiance between Australian Venue Co (AVC) and ASX-listed HPI is representative of the State’s consolidated place in the national marketplace. This week the pair have finalised settlement on two pubs in
The historic Phillip’s Foote pub in The Rocks was sadly one of the more than 150 NSW companies that failed in May, potentially heralding the start of the fall of the zombies. In the aftermath of the pandemic and since government support began winding back in March, the number of businesses folding has increased. Most
Shares in the ASX-listed Redcape Hotel Group rallied following news of upgraded forecasts in its full-year earnings guidance and distribution payout. The high-profile Group spoke of improved trading as its shares rose over four per cent yesterday, as the overall share market retreated. Redcape (ASX:RDC) lifted its FY21 earnings forecast five per cent from guidance
REDCAPE LIFTS EARNINGS FORECAST FOLLOWING STRONG ‘LOCAL’ TRADE Read More »
AVC has announced it has postponed its IPO, as Sydney flares and the Woolworths-backed ALH takes another step on its run to the ASX. Australian Venue Co, majority owned by New York investment bankers KKR, formally announced a halt to its move toward listing yesterday, stopping the formal book-build process planned for this week. The
Australian Venue Co. has taken the next steps toward its public float, with fund managers this week informing investors the process will look to raise $352 million, while New York financial giants KKR retain their share. American heavyweight KKR secured its first significant stake in the Australian pub sector in late 2016, acquiring the leasehold
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