The feeding frenzy of Lantern’s pub sell-down has ended with the sale of the Crown Hotel to Damian Kelly’s Peak Investments for $26.1 million. The ASX-listed Lantern Hotel Group (LTN) has executed a well-publicised and highly strategic divestment program of 16 assets that began as a debt rescue mission in late 2015, and gaining momentum […]
The Lantern pub flood continues as the listed entity puts its high-ranking Waterworks Hotel to market. While the procession of sales into a market short of supply have seen immense interest by operators eager to optimise the assets, few have offered the potential of the Waterworks, in the heart of the robust Botany LGA. The
FINAL COUNTDOWN BEGINS AS WATERWORKS HOTEL LISTED Read More »
Hot on the heels of highly profitable divestments, Lantern has listed its best pub onto the opportunity-starved market. After 12 months of shedding assets, in pursuit of a turnaround strategy that has transformed into a complete sell-down as market frenzy brings about premium prices, the top-ranked Five Dock Hotel is due to be the last
Lantern Hotel Group’s AGM yesterday saw shareholders pass a resolution to sell down the remaining six properties in the portfolio, meaning more key assets to meet a starved market. Following successes divesting all its ‘non-core’ pubs in line with the mandated turnaround strategy for the flailing company, achieving an 18.5 per cent premium to book
Lane Cove stalwart Graham Campion has emerged as the big-ticket buyer of Lantern’s Commodore Hotel, picking up his coveted second pub for a cool $14.5m. Listed pub group Lantern (ASX: LTN) put the McMahon’s Point beauty up for grabs last month. The 150-year-old Commodore was the last of the shrinking company’s ‘non-core’ hotels, and thus
Getting a jump on next week’s AGM, Lantern has listed two of its big assets as news breaks of the top-dollar sale price secured for the Commodore Hotel. Systematically executing a turn-around strategy to reverse the company’s fortunes has seen the publicly-listed Lantern Hotel Group divest nearly $60 million in assets the plan deemed ‘non-core’.
LANTERN LISTING AS UNCLE BUCK’S AND AMBARVALE HEAD TO MARKET Read More »
The compelling Lantern Hotel Group has put to market one of its final non-core hotels, as it asks shareholders to ponder selling up the lot. The 150-year-old Commodore Hotel – originally the First Old Commodore, and rumoured favourite haunt of Henry Lawson – is a modern two-level pub in McMahon’s Point, beside the bustling North
COMMODORE SETS SALE AS LANTERN PLOTS COURSE FOR EXIT Read More »
The demonstrable turn-around of listed pub group Lantern has been seen in the company’s end of financial year report. Having announced plans to execute a formal ‘Transformation Plan’ (see below) at the end of 2015, the resulting changes to revenue and debt have brought significant upswings on the bottom line and a healthy dividend return
FIGURES SHOW LIGHT AT END OF TURNAROUND TUNNEL FOR LANTERN Read More »
The down-sizing ASX-listed Lantern Hotel Group has offloaded yet another pub, settling this week on the sale of Mudgee’s Lawson Park Hotel. Lantern (LTN) announced its intention to sell non-core assets and rebuild the company structure in November, 2015. Since then it has divested a parcel of land in New Zealand and seven hotels, including
Pelathon has continued its big plans for expansion, paying $6.25 million for Lantern’s Courthouse Hotel as it completes its exit from the Sunshine State. The Cairns’ Courthouse Hotel is an “institution” in north Queensland. It was the official Court building until 1998, constructed in 1922 as part of a scheme to create employment for returning
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