This Month
- Exclusive
- Commercial real estate
Commonwealth Bank takes control of Jon Adgemis’ yacht
The boat was built in 1974 in Italy and was advertised for sale in 2010 with a price tag of $2.85 million.
- Primrose Riordan and Sarah Thompson
Backpacker operator Bounce snaps up Selina’s Australian hostels
Hostel operator Bounce will instantly double its network of properties to six with the acquisition of three former Selina hostels in Melbourne and Brisbane.
- Larry Schlesinger
October
Travel surge cements Young Rich Lister’s new billionaire status
Robert Chamberlain’s Huno Group enjoyed a 25 per cent jump in revenue to more than $232 million, while net profit hit $78.8 million.
- Yolanda Redrup
Six years on, Lanson Place opens in historic Melbourne building
The $80 million apartment hotel is the Hong Kong chain’s first in Australia, and fills a gap in the market.
- Larry Schlesinger
- Exclusive
- Pubs
Jon Adgemis allegedly transferred funds out of collapsing pubs group
The high-flying businessman built a hotel empire. But part of the company collapsed, with administrators presenting the initial findings of what went wrong.
- Primrose Riordan
- Exclusive
- Hotels
Fund manager snaps up coastal hotels with famed Rick Stein restaurants
Salter Brothers has purchased three Bannisters hotels in Mollymook and Port Stephens that are home to the celebrity UK chef’s famous seafood restaurants.
- Larry Schlesinger
September
‘Pay to stay’: Average Sydney hotel room rate to hit $426 by 2033
Sydney will be the standout hotel market over the next decade as occupancy rises to 86pc and few new hotels are completed to keep up with demand.
- Larry Schlesinger
Holiday home rentals ‘not to blame’ for sky-high UK house prices
A global backlash against Airbnb properties has brewed in recent years, and some cities such as New York are severely restricting the company’s activity.
- Joe Wright
Greece to ban new short-term lets in Athens for at least a year
Like many other European tourism destinations, Greece must balance a profitable short-stay industry with the needs of locals facing a housing shortage.
- Stamos Prousalis and Angeliki Koutantou
- Opinion
- Opinion
Britain’s war on second-home owners is backfiring
Owners of second homes are selling up in record numbers in the wake of higher council taxes and the looming prospect of an increase in capital gains tax.
- Matthew Lynn
Investors claim mismanagement of Elanor’s $500m hotel fund
The $500 million hotel fund – part of a $6b real estate platform – is at the heart of refinancing issues facing the ASX-listed fund manager.
- Larry Schlesinger
Spain’s crackdown on holiday rentals bodes well for luxury hotels
Locals have staged protests, blaming booming short-term holiday lets for soaring costs of housing and crammed city streets.
- Joan Faus and Corina Pons
August
Airbnb boom hits a wall as landlords slash prices to lure tourists
A broad backlash from residents and resurgent interest in hotels has made life more difficult for property owners, forcing rates down in many popular areas.
- Larry Schlesinger
- Exclusive
- Hotels
Accor hotel brand to debut in Melbourne match factory
The former Redheads match factory in Melbourne’s Cremorne will be repurposed into the country’s first Hoxton designer hotel by developer Alfasi.
- Larry Schlesinger
Developers turn to micro apartments to fix housing crisis
Well-designed apartments smaller than 32 square metres can be rented out to singles and couples at rates below the market.
- Larry Schlesinger
Receivers appointed to sell Selina Australia’s ‘flashpacker’ hotels
The global budget hotel operator collapsed last month. Now its profitable Australian hotels are being sold by receivers acting on behalf of Dorado Capital.
- Larry Schlesinger
- Exclusive
- International students
Brookfield eyes $2b student beds portfolio
Canadian giant Brookfield spies opportunity for expansion in the sector, despite looming disruption from government caps on foreign student enrolments.
- Nick Lenaghan
- Exclusive
- Hotels
Why Australia’s biggest hotel is bringing in maggots
The Hyatt Regency at Darling Harbour is the first in the world to use the fly larvae to dispose of its food waste – and it certainly won’t be the last.
- Larry Schlesinger
July
Thai family targets distressed sellers for luxury hotel growth plans
Earp Siriphatrawan, whose family owns the 415-room Amora Jamison Sydney Hotel, says distressed vendors have created a buyer’s market.
- Larry Schlesinger
‘Business as usual’ for Selina’s Australian ‘flashpacker’ hotels
The collapse of budget accommodation operator Selina’s London-based parent company will not impact the operation of its Australian hotels, says chief operating officer.
- Larry Schlesinger