Joint venture in Qld creates mega pub portfolio
A joint venture between the Australian Venue Company (AVC) and Coles has created of the country’s second largest bar and pub venture.
The pub portfolio has seen five pubs and hotels in Logan south of Brisbane join 34 others. The new pubs are Beenleigh Hotel, Fitzy’s Loganholme, Hotel HQ in Underwood, Browns Plains Hotel, and Club Hotel Waterford. In Brisbane, the Regatta Hotel at Toowong and Fridays in the CBD will also join the group.
The agreement, which allows Coles to focus on its retail liquor store assets and AVC to diversify its bar and pub portfolio, is for the operation of 87 Spirit hotels and 253 liquor stores in Queensland, South Australia and Western Australia, previously owned and operated by Coles.
“On the hotel side, we will be backing the local market knowledge of the current Spirit Hotels venue managers and teams with AVC’s specialist marketing and venue management services to expand and enhance customer services and experience,” AVC CEO Paul Waterson told The Courier Mail.
“As employees of a much enlarged, specialist pub and bar venue operator, we believe there will be broader employment and career opportunities for all employee team members.”
Sheridan Randall, 9th May 2019
