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Hotels

Yesterday

Giselle Collins.

Pub landlord HPI rejects consortium’s $710m bid

The ASX-listed owner of 58 pubs told investors the bid undervalued its portfolio, which would only grow more in value as rates fell.

  • Michael Bleby

This Month

Neil Rankin spent months restoring the Hotel Australasia in the centre of Eden before selling it to John Palasty.

Paradise lost: Virtical pub empire’s problems have roots in Eden

Neil Rankin thought he would fund his retirement after selling a small-town pub to a company involving John Palasty. Instead, it turned into a lengthy legal battle.

  • Larry Schlesinger, David Marin-Guzman and Max Mason

September

A render of the proposed nine-storey hotel at Howard Smith Wharves, recently submitted to Brisbane City Council.

The $620m makeover for Manly, Howard Smith wharves

Plans are afoot to transform the faded glory of waterside venues at Manly and in Brisbane to bustling tourist destinations. The locals have had their say, too.

  • Campbell Kwan
Steve Donohue.

Endeavour Group CEO’s last drinks a chance to reset

Steve Donohue knows booze and retail as well as anyone, but shareholder diplomacy was a challenge. Good luck to whoever takes over.

  • Anthony Macdonald
John Palasty at his home in East Hills in Sydney’s west.

John Palasty jumps from Virtical’s sinking ship

The developer is trying to distance himself from Virtical’s collapsing empire, stepping down and selling his shares to a director of multiple failed companies.

  • Max Mason, David Marin-Guzman and Larry Schlesinger
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Hotel mogul Jerry Schwartz at his Sofitel Sydney Darling Harbour hotel.

‘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
The Adelphi Hotel has been put into administration.

Hospitality empire on brink as Adelphi Hotel put in administration

Virtical group, which exploded on to the Sydney and Melbourne pub scene last year, has lost control of its two biggest assets.

  • Max Mason and David Marin-Guzman
The Republic Hotel on the corner of Bridge and Pitt Streets, Sydney sold for $40 million.

Republic Hotel goes into administration as financiers chase $90m

Financiers have given embattled hospitality group Virtical one month to pay $90 million in loans.

  • David Marin-Guzman and Max Mason
Virtical hotels.

Embattled pubs owner hasn’t paid super to staff all year

Property developer Virtical, facing an investigation over $100 million in GST refunds, is now subject to complaints it has not paid superannuation to hospitality staff.

  • Max Mason, David Marin-Guzman and Larry Schlesinger
One crowded hour on the Double Six beach at Seminyak in Bali.

A hotel ban in Bali? Not a second too soon

The “Island of the Gods” needs urgent attention. It’s Indonesia’s golden goose but rampant overdevelopment has also become the island’s hallmark. 

  • Karishma Vaswani
Star Entertainment has held talks with regulators, lenders and investors for nearly two weeks. It is seeking short-term financial relief.

Star Entertainment lands $100m instant cash injection in bailout deal

The casino’s lenders are now seeking approvals for a new two-tranche loan that would give new chief executive Steve McCann a chance to turn around the business.

  • Anthony Macdonald and Zoe Samios
David Harrison: Pub freeholds are great investments

AVC, Charter Hall snap up pubs as corporate dealmaking ramps up

PAG-backed Australian Venue Co has acquired 10 leasehold venues in Brisbane and the Gold Coast while funds giant Charter Hall has bought Melbourne’s Harlow Bar.

  • Larry Schlesinger
Brookfield’s Ruban Kaneshamoorthy is ready to roll up his sleeves.

The property hotspots attracting the world’s biggest investors

Higher for longer rates means the easy money is property is gone. It’s time for investors to roll up their sleeves.

  • James Thomson
19 Harris Street, Pyrmont.

Elanor finds white knight in Primo billionaire Paul Lederer

The businessman has acquired debt-laden fund manager Elanor’s 12.6 per cent stake in its listed office fund, while co-founder Glenn Willis has resigned.

  • Larry Schlesinger
The Star in Sydney’s Pyrmont. The company’s shares have been suspended since last week, when it failed to lodge accounts.

Star Entertainment’s banks baulk at cost blowouts and demands for debt

The ASX-listed casino operator has been negotiating with its lenders for days. But delays getting security over individual properties is slowing down progress.

  • Zoe Samios, Anthony Macdonald and James Hall
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Elanor tried to sell Peppers Cradle Mountain for $100m in 2022.

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
Tourists visit the Sagrada Familia church in Barcelona.

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
The Shakey dates back to 1879.

Surry Hills pub sold for the first time in nearly 50 years

The landmark pub near Central Station sold for about $10 million to local publican Laurence Collins.

  • Larry Schlesinger
Nuanu Suara Festival

It’s Asia’s answer to Burning Man. And why not buy a villa, too?

Meet the Russian tech multimillionaire who’s building a 44-hectare playground for adults in Bali.

  • Emma Rapaport
Melbourne’s new The Standard.

An edgy Hollywood hotel brand makes its Australian debut

It may have its origins in Los Angeles, but The StandardX has embraced the gritty hipness of its new location in Fitzroy, Melbourne.

  • Stephen Todd

Original URL: https://www.afr.com/topic/hotels-hqf