After shelving its mooted IPO, Dixon Hospitality Group is rumoured to be in talks with private equity buyers – including KKR – the company that sank Keystone. Dixon Hospitality Group (DHG) has hinted at plans for an Initial Public Offering almost since it burst into the Australian hospitality spotlight with meteoric expansion courtesy of a […]
The high-profile sale of the Keystone portfolio has taken a twist, with creditors KKR helping Dixon Hospitality into a $40m deal for six Sydney venues including Kingsley’s fine-dining restaurant. Despite previous statements denying interest in assets of the beleaguered The Keystone Group (TKSG), which fell into receivership in June after falling foul of debt covenants
DIXON DANCES WITH KKR FOR $40m SLICE OF KEYSTONE Read More »
The much-anticipated future of The Keystone Group portfolio remains undetermined, as news emerges of a shrinking short-list and Dixon Hospitality eyeing seven of the 17 venues. After falling foul of financiers, a high-profile campaign for the well-known Keystone portfolio has been conducted through CBRE Hotels by receivers, Ferrier Hodgson (FH). FH’s Morgan Kelly reports Dixon
Keystone continues its directional shift, with the listing of the iconic Cargo Bar in Darling Harbour. Following unsolicited approaches for the Newtown Hotel, Cargo Bar and its sister venue Bungalow 8, The Keystone Group (TKSG) underwent a strategic review that subsequently saw the sale of the Newtown pub to Colonial Leisure Group and now the
The award-winning Keystone Group is divesting the freehold of its Kings Cross icon, the four-level Sugarmill Hotel, at 33 Darlinghurst Rd. Expected to fetch around $20 million, the immensely successful ground floor bar, two levels of Kit & Kaboodle nightclub, and Sweethearts rooftop bar will stay tenanted by Keystone. One of the landmark venues on
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