Three hotels up for grabs Down Under

Lantern Hotels, an Australian Securities Exchange-listed hospitality group, has put three hotels on the market: The Brisbane Hotel in Perth, The Dolphin Hotel in Sydney, and The Alberts Hotel on the North Island of New Zealand.

While The Dolphin Hotel in Surry Hills is both owned and operated by Lantern Hotels, both the Brisbane and The Alberts properties are operated by other companies. The Brisbane is operated by noted publican Geoff Hayward, whose business Capital Management WA has the lease for the hotel until 2020, with four 12-year options available.

Lantern CEO John Osborn suggested that the sale was a strategic move by the company to divest itself of its non-core assets.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

In its 2015 annual report, Lantern Hotels said that as at June 30, its New Zealand portfolio consisted of three properties, adding: "Engagement with selling agents is ongoing to actively market the properties and they are expected to be sold in the next 12 months."

 

Suggested Articles

The two associations said they plan on working with political leaders on further legislation to ease loan restrictions.

Jan Freitag, SVP of lodging insights at STR, warned the U.S. could face an elongated recovery due to a lack of social distancing.

The world used to be our oyster and now our oyster is closed. Oysters can do a lot worse, of course, which is what we are hoping to avoid.