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
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
Moelis Australia has announced finalisation of its record-breaking purchase of Byron Bay’s Beach Hotel, and its ongoing strategy for the gaming-free coastal icon. The Beach, aka the ‘Top Pub’, occupies a sprawling 4,585sqm site that counts 100 metres fronting Byron’s main beach. It has long been a ‘must do’ for visitors to the northern NSW
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
Redcape ends a record-setting year in pub real estate with a bang, acquiring Hurstville’s Kings Head Tavern while divesting its Royal Hotel Granville for $51 million to the same party. The ASX-listed Redcape Hotel Group (ASX: RDC) today announced a deal with hotelier and owner of AVS Security Pierre Sleiman to ‘exchange’ its Top30 corner
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
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”
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
In a market probing for opportunity, Australia’s biggest pub landlord is testing the waters with one of its prized ALH-leased properties, Paddington’s Berwick Hotel. The ASX-listed ALE (ASX: LEP) holds a portfolio of 86 properties across the five mainland States, exclusively leased to Australian Leisure & Hospitality (ALH). The combined value of the portfolio tops
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