After years of rumours and a pandemic delay, Australian Venue Co has finally kicked off its run at the ASX. Australian Venue Co (AVC) has 175 venues across Australia and New Zealand, having aggressively accumulated leasehold sites since 2014. Majority-owned by US private equity giant KKR, AVC is the second-largest hotel operator in the country, […]
As post-pandemic upset looms in the national market, the share of debt with non-bank lenders is predicted to surge in coming years, potentially becoming a critical component in new ownership structures. Analysis by consultancy firm Plan1 pits the market share of commercial real estate under non-bank lenders to reach $50bn by 2024, driven by pending
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Listed pub entity Redcape Hotel Group (ASX:RDC) has announced strong financial results for the half-year ended 31 December 2020, and a return to “full growth strategy” backed by a strong balance sheet. Highlights for 1H21 included an increase in statutory net profit after tax (NPAT) of 45.9 per cent, compared with FY20, to $25.4m. This
The last of the Boutique Pub Co has gone, with SV Partners appointed as liquidator for the failed operation and closed premises. Queensland publican Mic Uebergang oversaw Boutique Pub Co, operating The Florence Public House in Toowoomba, which made something of a splash when it opened in 2018. The Hotel was subsequently closed in August
Sam Arnaout’s Iris Capital has pounced on a portfolio of 17 Ibis hotels from Accor Invest in a deal worth $180 million, making it the biggest hotel transaction of the year. The massive deal is for 17 freehold hotels, amounting to nearly 1800 rooms, all operated by Accor – the largest hotel operator in Australia.
Following completion of independent valuation and a rent-determination process, ASX-listed ALE Property Group has recorded a $51.6 million gain in the value of its 86-venue portfolio and further support to its case for rental increases. As of 31 October the portfolio was independently valued at $1.226 billion, up 4.43 per cent from the figure of
The reopening of the famous Lion Hotel this week heralds the launch of a new multi-million-dollar pub investment fund with high ambitions to be one of the biggest in the country. Duxton Asset Management (DAM) is founded by Ed Peter, Martin Palmer and Brett Matthews, who already own 19 pubs between them. They teamed up
Woolworths-backed ALH has flagged not reopening Melbourne pubs under restricted capacity, as landlord ALE drags the group back to court questioning the quality of management at venues. From 2 November licensed venues in Melbourne including pubs will be allowed to reopen, on the provision of four square metres of floorspace per person inside, to a
ALH FLAGS PUBS WON’T REOPEN AS ALE CALLS OUT MANAGEMENT Read More »
ASX-listed Redcape has put forth a very positive result for the first quarter of FY21, citing quick adaptation to the changing landscape and stamping an upcoming distribution for security-holders. Redcape Hotel Group (ASX:RDC) announced its FY20 financial results on 19 August, which included noting revenues during July 2020 throughout its newly-reopened fleet above that of
In a significant development for the increasing discussion around rent for tenants in the aftermath of COVID-19, the ASX-listed ALE Property Group announced it has taken a backward step in its quest for rental increases at many of its ALH-occupied pubs. ALE (ASX:LEP) is Australia’s largest listed pub landlord, with a portfolio of 86 properties
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