Newcastle-based hotelier Stephen Hunt has been courting investors to double the size of his hotels fund to $50 million, following strong growth and robust returns. SJH Hotel Fund, run by Hunt Hospitality, owns hotel trusts around the Lakeside Village Tavern and Duke of Wellington freeholds, and Seabreeze Hotel lease, with a deal pending on the […]
This week the listed Redcape Hotel Group (ASX: RDC) announced its full-year distributable earnings for FY19, with returns and opportunities mirroring upside in the broader hotel industry. RDC’s earnings were in line with its PDS guidance, largely driven by portfolio expansion and enhancement. Total revenue increased 17.4pc, EBITDA 21.3pc against the prior corresponding period. Six
Hong Kong’s richest man has clinched a deal to buy Britain’s largest pub and brewery chain for a premium price of $AU8.2 billion. The original company was founded by Benjamin Greene in 1799. In 1887, under Edward Greene, it merged with Frederick William King’s business to create Greene King. From here the business grew largely
HK’S RICHEST MAN PAYS $8.2b FOR UK’S BIGGEST PUB GROUP Read More »
The high-profile Boathouse Group has been rescued through sale to associate investors, bringing relief to employees and its eight venues pledged to “business as usual”. In late 2017 Andrew and Pippa Goldsmith took a significant step in the expansion of the hospitality business they began in 2008, adding the Patonga Hotel on Pittwater for around
Over $1 billion in pub assets changed hands in New South Wales and Queensland in FY19, according to a report analysing every transaction for the year. NSW rebounded in the final quarter to record $860m in industry sales for the year, across 66 transactions, while Queensland recorded $223m across 22 transactions, discounting the $200m portfolio
Entertainment Venues Australia has been put into liquidation, leaving in doubt the future of its five operations in the South Australian capital. News initially broke that two of its pubs, Kent Town’s Royal Terrace Hotel and The Glenelg Pier Hotel, had closed due to a trading halt, with each displaying “not open today” signs for
Woolworths has finally announced strategy to divest its contentious Hotels division, to be coupled with its key liquor division, leaving the future of Australia’s biggest drinks-hospitality group dithering. ASX-listed Woolworths (WOW) today released details of its plan to merge Endeavour Drinks and Australian Leisure & Hospitality Group (ALH) into a combined entity, Endeavour Group Limited
Speculation is rife Woolworths and the Mathieson family are poised to announce sell-off of the $3.6 billion ALH pubs portfolio. Senior management of Woolworths Group and Bruce Mathieson Jr are believed to be back at the negotiating table, discussing plans to de-couple the ‘Fresh Food People’ from the hotels business, motivated by the unfavourable public
Coles’ Spirit Hotels has finally announced its much-anticipated joint venture proposal with Australian Venue Company (AVC), for control of 87 pubs in three states. ASX-listed Coles (ASX: COL), recently de-merged from parent company Wesfarmers, has entered into an incorporated joint venture with a wholly-owned subsidiary of AVC, to be known as Queensland Venue Co (QVC).
Redcape has announced its first results since its listing in November, showing strong outcomes on the back of a string of acquisitions. Redcape Hotel Group Management Ltd – responsible entity for publicly listed Redcape Hotel Group (ASX:RDC) – announced results for the first six months of FY19, ending 31 December 2018. Highlights of the “1H19”
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