Woolworths Buys Compass Hotel Group
Woolworths' retail liquor giant ALH Group has acquired the Compass Hotel Group Ltd's portfolio of 12 hotels and bottle shops in Perth.
The troubled Compass Hotel Group (CHG) was put into receivership with Taylor Woodings in March after the St George Bank called an end to their escalating debt situation.
ALH Group says the acquisition of the Compass Hotels will complement its existing properties. It currently operates 16 hotels in Western Australia.
ALH Group National Operations Manager and CEO designate, Bruce Mathieson Jr., said “We are excited with this purchase as the Compass Hotels operate a wide range of bars and bistros.
“We will be able to offer great food at great value, and showcase our Graziers brand steaks to locals at these pubs. The pubs will also continue to offer a wide range of beers, including local, imported and handcrafted products.”
Quentin Olde of Taylor Woodings said there had been strong interest in the pubs from both national and local buyers.
"The success and speed of this outcome against the backdrop of some economic uncertainty, demonstrates there is demand for quality retail and hotel assets in the WA market," he said.
Completion of the acquisition will occur once all applicable regulatory conditions have been met.
The 12 Compass Hotels in Western Australia being purchased are:
• Albion Hotel, Cottesloe
• Belmont Tavern, Belmont
• Brighton Hotel, Mandurah
• Carine Glades Tavern, Duncraig
• Gosnells Hotel, Gosnells
• Greenwood Hotel, Greenwood
• Herdsman Lake Tavern, Wembley
• Kalamunda Hotel, Kalamunda
• Lakers Tavern, Thornlie
• Peel Alehouse, Halls Head
• Peninsula Tavern, Maylands,
• Princess Road Tavern, Balga