After years of speculation and a change of ownership, Redcape has begun steps toward an Initial Public Offering in December. The prominent pub group was acquired mid-2017 by Moelis Australia after several rumoured divestment considerations by its former owners, US hedge funds York Capital and Värde Partners, including a mooted IPO. Moelis (ASX: MOE) quickly […]
ALE’s results for FY18 herald continued strength in the Australian pub sector, showing strong valuations, record low debt and market-leading returns for investors. Listed entity ALE (ASX: LEP) is the biggest landlord to Australia’s biggest publican, the majority Woolworths-owned Australian Leisure & Hospitality (ALH). All of ALE’s 86 properties are ALH-tenanted pubs, with 83 of
ALE FY18 RESULTS MEASURE CONTINUED SUCCESS IN PUB BUSINESS Read More »
The much-rumoured joint venture between Coles’ pub arm and a big operator is close to a deal with KKR’s Australian Venue Company, with the major hurdle fast approaching. Speculation has emerged about a broad change to the fleet of Spirit Hotels, sparked by Coles’ and parent company Wesfarmers’ continued unrest with exposure to poker machines,
The high-profile Royal Commission into Australia’s banks has turned the spotlight on commercial practices – particularly the wake of foreclosures on pubs by Bankwest post-GFC. The controversial practice of ‘non-monetary default’ clauses has been in discussion at the Commission, prompted by testimony of former Bankwest customers owing commercial loans on hotels. Testimony has centred on
The latest Rich List has been announced, featuring a dozen debutants including pub king Justin Hemmes. BRW first published its Top 200 Richest People in Australia in 1984, and counted (the late) John Hemmes and Merivale Hemmes, parents to Justin and Australia’s richest hospitality empire. John and Merivale had an estimated wealth at the time
The battle of the supermarket pub groups has taken another twist with Wesfarmers’ mooted plans to shed Coles from its portfolio, as Aus Venue Co looks to step up the value of its operations. Eleven years after buying and reviving the national supermarket chain, Wesfarmers has announced plans to divest most or all of Coles,
The biggest landlord to Australia’s biggest publican reports strong half-yearly results, boding well for the industry and commercial interests. Listed A-REIT ALE (ASX: LEP) released end of 2017 results Wednesday, showing distributable profit down slightly (three per cent) but distributions up (1.97 per cent). Directors’ valuations during the course of the year saw the book
Despite divesting its entire portfolio late 2017, the beleaguered Publican Group has been put into voluntary liquidation. The cashed-up Dixon Hotel Group – since rebranded to Australian Venue Co (AVC) – bought the clutch of nine Publican Group venues in Victoria and Western Australia in October 2017, taking possession late November. Founded in 2014, AVC’s
PUBLICAN GROUP SINKS INTO RECEIVERSHIP DESPITE DIXON SWOOP Read More »
Lucky Toowoomba institution the Shamrock Hotel has hit the market following a big refurbishment, as the Lees look to other ventures. Seona and Wayne Lee bought the large-format pub four years ago and have chipped away at improvements since, unveiling the new Shooters Super TAB sports bar last year. (video below) The Hotel counts four
Small-scale partial investors will revive the magnificent Federal Hotel in Deniliquin via a ‘fractional investing’ scheme driven by pioneering entertainment company Omecca. The Federal Hotel, on the town centre corner of Napier and Cressy street in Deniliquin, was built in 1897 after a strike by the local fire brigade saw firefighters watch as the exiting
FEDDY IN DENI TO RISE AGAIN VIA NEW INVESTOR MODEL Read More »
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