MA Redcape Hotel Fund has reversed its run of divestments with purchase of three hotels in coveted southeast Queensland, to further its portfolio refresh and optimisation. The prior calendar year continued a shake-up of the Redcape stable that saw multiple assets divested. In April the group sold its Crescent Hotel in gaming heartland Fairfield to […]
The electioneering has begun and the Coalition has put forth proposal to allow small businesses to claim business-related meal and entertainment expenses, in a boon for hospitality. The proposal was announced this week by opposition leader Peter Dutton, suggesting a capped tax deduction for small businesses of up to $20K. Industry watchdog the Australian Hotels
Last year the Inner West Council (IWC) of Sydney restirred a heritage hornet’s nest, furthering its attempt to preserve urban culture by forcing protections on old pubs under its purview. The Council’s proposal has now successfully amended planning controls, such that a total of 22 pubs have been added to the State Heritage register. These
The Redcape reshuffle peaked in December with sale of two of its big-ticket gaming hotels to Sam Arnaout’s Iris Capital. Transaction of the Cabramatta Hotel in Cabramatta and El Cortez in Canley Heights is reported at more than $180 million. The two pubs hold a combined 17K sqm and boast approved development upside. The Cabramatta
Liquor & Gaming in NSW has published its Regulatory Priorities for the first half of 2025, aiming to keep “both industry and the broader community” informed about what it sees as the key issues. The regulator plans to focus on a range of matters, including: The office will be holding its scheduled Regulatory Priorities webinar
Justice has been served on a Gladstone man who assaulted the Central Lane Hotel’s manager in 2024. At 3:30am one September morning, former truck driver Jordan Dallas King, 23, entered the hotel’s gaming area and demanded to be served a drink. The manager refused him service and continued counting the night’s takings. King repeated his
Recent research has shown that the time-honoured Aussie tradition of buying a round has declined, most likely due to a combination of a change in drinking habits, changes in technology and of course cost of living pressures. The National Australia Bank (NAB) surveyed 2,000 Australians late last year, discovering that while over half of all
ECONOMIC WOES THREATEN AUSSIE TRADITION OF A SHOUT Read More »
Leading Sydney operator Solotel has emerged as the new operator of the majority of the Public Hospitality portfolio recently into receivership, adding three inner west pubs to the collection. Formerly high-flying dealmaker for tax advisor KPMG, Jon Adgemis, came unstuck during a rapid rise to two-dozen hotels, as construction costs and interest rates rose following
One of Glebe’s historic watering holes has a new Friend – for the third time in six years, as Ray Reilly and co take on the inner west pub, following a public sale by Marcello Colosimo’s Momento Hospitality. In 2022 Momento undertook a rapid expansion of its inner west footprint, buying the Friend from Wallaby
A pub in Brisbane was forced to close during peak hours last Friday night, after it was discovered a woman was stuck in the roof. Around 4:30pm emergency services were called to the Albany Creek Tavern, in Albany Creek, where it was reported a disturbance was taking place in a public bar. Officers from
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