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
Pub chieftain Bruce Mathieson predicts a long and bumpy recovery from COVID-19, as Australia’s biggest publican is further hammered by restrictions and shutdowns. In a recent interview with The Australian, Mathieson spoke of grave fears for the economic damage being felt now, but also what is to be expected into the future. The Mathieson family
MATHIESON PREDICTS LONG RECOVERY AS ALH STRUGGLES Read More »
ASX-listed supermarket giant Woolworths has reported a major profit reduction in its full year results for FY20, largely under the weight of the ALH portfolio being closed for months. Woolworths Group (ASX:WOW) chief executive Brad Banducci offered that earnings had been “distorted” by COVID-19 in the second half of the financial year. Despite “materially higher”
Redcape Hotel Group Management today announced full year FY20 results for Redcape Hotel Group (ASX:RDC), offering a solid perspective on the impact of COVID-19. RDC’s distributable earnings were on track for an increase of 22.1pc in the first eight months of the financial year against the previous corresponding period. The final result saw an overall
REDCAPE FULL YEAR RESULTS BRING PERSPECTIVE TO PANDEMIC Read More »
Leading pub operators are calling on landlords for renegotiated conditions in the wake of COVID-19, prompted by the major losses in revenue across the board and second closure period for Melbourne. The call comes as news from research entity Morgan Stanley emerges that rental forecasts at retail properties could see reductions greater than 15 per
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