Increased corporate competition for quality long-leased assets means the pub transaction market will stay hot while interest rates remain low, says Hotel Property Investments (HPI), one of Australia’s leading pub landlords.

The business, which owns 56 pubs valued at $1.2 billion, reported a 21 per cent rise in rental revenue, a 300 per cent increase in profit to $120 million due mainly to revaluations, and lifted its distribution 6 per cent for the six months to December 31.