This Month
Creditors bankrupt former PE Capital director
Disgruntled creditors of PE Capital Funds Management have directed their anger at former Melbourne developer Martyn Barnes for his role at the collapsed asset manager. And on Wednesday, they got their man.
- Max Mason
Malaysian developer set to sell 50pc stake in Melbourne’s Shangri-La
Sources said the acquirer was a large unlisted credit fund and had put a compelling offer on the table that exceeded the initial sale price expectations.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Crete’s iconic Blue Palace opens new chapter
With a growing collection of resorts, two local sisters are staying true to the proud heritage of Greece’s largest island.
- Kate Hennessy
- Exclusive
- Accommodation
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
The six best hotels in Tokyo under $750
While entry-level luxury hotel rooms start at about $US800, there are still great deals to be had. And costs bottom out in August when the weather is maximally hot and humid.
- Brandon Presser
‘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
Sale price for Captain Cook pub doubles to $35m since 2020
The price paid for the Botany hotel by publican Kent Walker is in sharp contrast to the $6.6m paid recently for the Captain Cook Hotel in Paddington.
- Larry Schlesinger
Historic pub to close after Rich Lister sells building, keeps pokies
Pub and pokies baron Bruce Mathieson exchanged contracts to buy the Captain Cook Hotel for $13.5m in late 2022. His BLM Group sold it this month for $6.6m.
- Larry Schlesinger
Westfield’s Paris shopping centres bid for an Olympic leg-up
Unibail-Rodamco-Westfield, the owner of Westfield malls in Europe, is looking for a spurt of extra visitors and a profit boost for its convention centres.
- Hans van Leeuwen
Kimberley beachfront eco resort with own airstrip hits the market
Eco Beach Resort sits just metres from the beach an hour south of Broome. It comes to market amid a boom in demand for luxury, eco-friendly resorts.
- Larry Schlesinger
Singaporean billionaire brings Hilton to Hobart
Koh Wee Meng’s Fragrance Group has ditched Accor’s Novotel brand and has instead appointed Hilton to run its new Hobart Hotel as a DoubleTree.
- Larry Schlesinger
Melbourne a launching pad for Hong Kong hotel brand
Lanson Place will open its first Australian property in September after spending $80m repurposing the former Salvation Army Printing Works in East Melbourne
- Larry Schlesinger
‘Off the market’: The $175m pub sale that never happened
The Thomas family will retain ownership of The Oaks Hotel in Neutral Bay after a local family was unable to stump up the money to settle the circa $175 million deal.
- Larry Schlesinger
Why young people love London’s newest luxury hotel
In contrast to its heritage-rich big sister in Hyde Park, the £1000 a night Mandarin Oriental Mayfair is cheekier and more focused on fun.
- Fiona Carruthers
Redcape sells trio of pubs for $136m to meet priority redemptions
Redcape managing director Chris Unger said the group will pay out priority redemptions and provide $40 million of liquidity over the next year.
- Campbell Kwan
Deutsche gets ball rolling at Public Hospitality recapitalisation
Street Talk understands a new $200 senior lending facility has been put in front of the group’s existing lenders.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Pub tsar more than triples money in $30m Griffith sale
Jim Knox sold the Area Hotel in Griffith to budding entrepreneur Trent Middleton for $30m, having paid $8m for it in 2019.
- Larry Schlesinger
June
Deutsche Bank trades its Adgemis debt; kicks off Gemi talks
Street Talk understands major lender Deutsche Bank has traded positions in five assets to US private credit group Muzinich in recent weeks.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Architecture
‘Huge demand’: Australia’s largest design firm expands worldwide
Architecture practice Woods Bagot is focusing on growing demands for luxury and non-traditional consultancy services for design firms.
- Michael Bleby and Patrick Duffy
