Of late there have been limited hotels offered for sale, and anything that does come to market is quickly acquired and consolidated by long-established hotel groups. A good example of this is the recent joint venture between Australian Venue Company and Coles, which kicked off further expansion plans with the purchase of Open Arms Hospitality’s Brisbane hot-spot, Riverland. And in Sydney, Iris Capital’s acquisition of the iconic Steyne Hotel for a record price.
With this in mind, now more than ever it is critical that operators in the industry have a good handle on the key metrics of their business and, in-particular, an understanding of how the banks view these metrics – to ensure that funding remains available to you, and with optimal pricing, conditions and structure in place.
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