Why it matters: Endeavour is holding an investor day in Sydney focused on its hotels business. It operates over 350 hotels and is the owner of Dan Murphy’s and BWS chains.
Endeavour is targeting shareholder value creation of over 10 per cent from fiscal 2026.
Capital expenditure in fiscal 2024 is anticipated to be between $420 million and $480 million, lower than last year’s $510 million.
It plans to grow hotels EBIT by more than $150 million over the next five years.
Endeavour Group chief executive Steve Donohue has told investors that the company will drive higher returns on funds employed and boost hotel earnings by more than $150 million in the next five years through property investment, buying fewer pubs and cutting costs.
Endeavour’s hotel division makes up 40 per cent of group earnings, and its strategic direction has been under the microscope since its demerger from Woolworths in 2021.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
