HTL Property Sells Allawah Hotel to the Justin Hemmes owned Merivale Group
HTL Property is delighted to confirm the sale of the Allawah Hotel to the Justin Hemmes owned Merivale Group vehicle.
“The national hotel market is currently the beneficiary of a prosperous transaction landscape, and this sale is representative of a significant event upon that landscape” advised HTL Property Asia Pacific Director Andrew Jolliffe.
“This is the 6th property we have sold to Merivale Group, and represents the second purchase of a gaming centric hotel by the leading hospitality group“ commented HTL Property’s National Pubs Director Dan Dragicevich.
“The acquisition of the Allawah Hotel is a clear indication of Merivale’s strategy to diversify group earnings; and in doing so, add to the already impressive capture of consolidated gaming revenues it enjoys annually” added Jolliffe.
The sale of the Allawah Hotel is the 15th freehold hotel sold by HTL Property this Financial Year alone, at a rate of one asset per week.
HTL Property is currently marketing for sale Balmain’s Unity Hall Hotel, Alexandria’s Camelia Grove Hotel and Goulburn’s Southern Railway Hotel.
HTL Property, 14th October 2019
