The august Captain Stirling Hotel of Nedlands, cornerstone of the new Woolworths Nedlands Square, is available for the first time in a quarter century. Occupying a high-profile corner site on the Stirling Highway, the two-storey Hotel is said to be the “heart and soul” of the Nedlands community. It was constructed in 1935 for the […]
CAPTAIN STIRLING HITS OPEN WATERS FOR FIRST TIME THIS CENTURY Read More »
AVC has announced it has postponed its IPO, as Sydney flares and the Woolworths-backed ALH takes another step on its run to the ASX. Australian Venue Co, majority owned by New York investment bankers KKR, formally announced a halt to its move toward listing yesterday, stopping the formal book-build process planned for this week. The
ASX-listed supermarket giant Woolworths has reported a major profit reduction in its full year results for FY20, largely under the weight of the ALH portfolio being closed for months. Woolworths Group (ASX:WOW) chief executive Brad Banducci offered that earnings had been “distorted” by COVID-19 in the second half of the financial year. Despite “materially higher”
Woolworths has finally announced strategy to divest its contentious Hotels division, to be coupled with its key liquor division, leaving the future of Australia’s biggest drinks-hospitality group dithering. ASX-listed Woolworths (WOW) today released details of its plan to merge Endeavour Drinks and Australian Leisure & Hospitality Group (ALH) into a combined entity, Endeavour Group Limited
Speculation is rife Woolworths and the Mathieson family are poised to announce sell-off of the $3.6 billion ALH pubs portfolio. Senior management of Woolworths Group and Bruce Mathieson Jr are believed to be back at the negotiating table, discussing plans to de-couple the ‘Fresh Food People’ from the hotels business, motivated by the unfavourable public
An internal investigation mandated by Woolworths senior management regarding ALH gaming practices has already prompted dismissals, and is key to ongoing investigations by regulators in three states. Earlier this year accusations emerged through the office of Tasmanian independent MP Andrew Wilkie that the 75 per cent Woolworths-owned ALH was engaging in questionable acts to try
REGULATORS CIRCLE AS ALH INVESTIGATION FINDS IMPROPRIETY Read More »
Fairfax has published a damning expose on the alleged workings of Woolworths-backed ALH and its approach to optimising gaming revenue through patron monitoring and inducements. Yesterday’s story in the Sydney Morning Herald alludes to a company-wide system of recording and sharing detailed information on gaming regulars, including gambling habits and conversational prompts, for the purpose
ALH IN DAMAGE CONTROL FOLLOWING WILD ACCUSATIONS Read More »
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
Woolworths’ and Charter Hall’s full year profit results offer perspective on the big-picture health of the hospitality and liquor markets. Australian supermarket giant Woolworths, 75 per cent owner of the country’s largest pub group, ALH, continues its bold recovery plans under maverick CEO Brad Banducci. The ASX-listed company (WOW) is battling to combat the diminishing
FULL YEAR RESULTS: INSIGHT ON HOSPITALITY PROPERTY AND PRODUCT Read More »
Australia’s biggest pub operator is the crux of a profitability dilemma for its majority owner Woolworths, as the supermarket giant weighs up bottom line and a PR crisis. Woolworth Limited (ASX: WOW) yesterday announced its full year results for FY16, which included for the first time performance figures for its Endeavour Drinks Group, operating the
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