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
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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
The nine-digit deal for KKR’s Australian Venue Company to buy the Sand Hill Road portfolio has been put on hold as both groups share in the national pain of pub closures. News emerged early March of the agreement, understood to be north of $100 million, for AVC to take control of eight of Melbourne’s finest
Redcape has released its results for the first half of the financial year, boding well for its growth prospects and for the broader industry. Redcape Hotel Group Management (RHGM), responsible entity for the Redcape Hotel Group (ASX:RDC) portfolio, reported a $17.4m first-half profit and 10.9 per cent increase in distributable earnings, to 4.78 cents per
Listed entity HPI has announced a deal renewing the bulk of its leases to Australian Venue Co (AVC) and the partnership with Coles, bringing “confidence” in the future to all parties and the pub sector. Hotel Property Investments (ASX: HPI) launched at the end of 2013, and has accumulated titles to 43 pubs in Queensland
Sparkke – the brewery on a mission – has taken the next step in ambitious goals with purchase of Collingwood’s historic Vine Hotel, set to become a new pub-brewery showpiece. In 1869, the Caledonian Hotel was the first built on the site of what is now the Vine Hotel, on the corner of Wellington and
SPARKKE GROWTH TAKES IN COLLINGWOOD’S VINE HOTEL Read More »
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