Business
Former Wallaby leads charge as $80m of NSW pubs snapped up – The Australian Financial Review
Leading the charge, former Wallaby Bill Young paid about $40 million for the Royal Hotel in Ryde, while Oscar Hotels bought the Beachcomber Hotel in Toukley.
Strategically, we are satisfied that we have now assembled a complementary mix of full-service hotel offerings in a demographic we know well.
The Royal has always been a robust and proven cash flow generator, and as such it deserved a sale price commensurate with the material barriers to entry, including lack of available stock and the weight of investmentcapital looking for a foothold in the marketplace, Mr Dragicevich said.
The Beachie on the NSW Central Coast was sold after 25 years of ownership…
-
Noosa News22 hours agoLaidley e-scooter death: Tragic new details after Summah Richards killed in freak accident
-
General23 hours agoMinjee Lee rallies after third-round meltdown to share fifth place at LA Championship
-
General16 hours agoUkraine says Russia has ramped up attacks despite ‘Easter truce’
-
General15 hours agoPope Francis appears Easter Sunday to deliver blessing as recovery continues