Pub landlord HPI is in talks to buy up to six assets for about $75 million, and is considering co-investing in hotels alongside “top tier” operators, as it pursues a growth strategy and defends against a takeover bid from property giant Charter Hall and Hostplus.
“The group is currently in advanced discussions regarding six acquisition sites and we hold a right of first refusal over [a further] three assets being redeveloped by Australian Venue Co [the operator of the majority of our pubs],” managing director John White told shareholders at HPI’s annual general meeting in Melbourne on Wednesday.
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Larry Schlesinger was a reporter at The Australian Financial Review.
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