Financial services giant Moelis Australia has secured an exclusivity agreement for potential purchase of the iconic Beach Hotel at Byron Bay for a record-setting price of “above $100 million”. The Beach, known locally as the ‘Top Pub’, began life in the 90s, built by Paul Hogan off-sider John Cornell, for around $9 million. The big […]
Former pub game high-flyer Tom Hedley is working his way back to prominence, cornering the market in the north Queensland precinct of Gordonvale, south of Cairns. After years building a sizeable empire, Hedley sold his Hedley Hotel Group to Coles Myer P/L in 2006 for a tidy $328 million. The Queensland portfolio counted 35 hotels,
Redcape Hotel Group has made good on aspirational plans at its top-performing Cabramatta Hotel with a multi-million-dollar renovation and community tilt. In late 2017 RHG negotiated a deal with landlords the Bowden family for the $45 million purchase of the freehold to its successful Cabramatta pub. The large-format venue – long known as the Cabramatta
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
The newly-llisted Redcape has snapped up the lease on Mantle Group’s Pig N’ Whistle operation at Redbank Plains for $11.5 million. Redbank Plains’ Pig N’ Whistle is one of five locations in a chain under Mantle Group Hospitality (MGH), along with Brisbane, Fortitude Valley, Indooroopilly and Riverside. Redcape Hotel Group (ASX: RDC) has been somewhat
Hot on the heels of Redcape’s long-awaited IPO, Queensland pub king Godfrey Mantle has divulged plans toward floating his Mantle Group portfolio mid-2019. Mantle owns a string of successful Queensland operations, including five Pig ‘n’ Whistle pubs, one of which shares domination of Brisbane’s bustling Queen Street Mall with another of his venues, Jimmy’s on
Redcape is three steps closer to its mooted IPO with the big-ticket acquisition of Joel Fisher and Andrew Denmeade’s trio of pubs south of Sydney. Denfish Hotels is a long-term partnership of Denmeade and Fisher that has bought, built and sold pub assets over the past decade. The pair notably built the impressive Central Hotel
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
Redcape has continued its portfolio reshuffle, selling the big Belrose Hotel back to the Bayfields. A classic suburban pub in the heartland of the northern beaches peninsula, the Belrose Hotel has seen generations of locals passing time on its generous grounds, with the demographic gradually shifting toward the upwardly mobile and higher socio-economic population seen
Redcape has announced its acquisition of the Colosimos’ Australian Hotel and Brewery for around $50 million, heralding the group’s plans to invest in the “craft and localised beer market”. Marcello Colosimo and family opened the large-format Australian Hotel and Brewery (AHB) in 2010, incorporating a modest commercial brewery under the stewardship of acclaimed brewer Neal
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