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…
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