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Press Release

Newly Formed Pub Group Snares Earlwood Hotel

After selling 8 hotels in the past 8 days, leading brokerage firm HTL Property has today announced the sale of the Earlwood Hotel to newly formed Orion Hotel Group.

The sale by HTL’s Andrew Jolliffe, Dan Dragicevich and Sam Handy was negotiated on behalf of highly regarded hotelier Kent Walker.

The Orion Hotel Group, comprised of the Wiggins, Savas and Docker hotel families, has been set up to look for Sydney based opportunities just like the one presented by the eponymous Earlwood Hotel.

“Whilst clearly not foreign to the property class, it is rewarding to see new consortiums access A grade product such as this one-suburb-one-pub asset” commented HTL Property’s Dan Dragicevich.

“Particularly considering the material competition for the multi-storey hotel with a captive suburban audience” added HTL Property’s Sam Handy.

The sale of the Earlwood Hotel followed a short EOI sale process, attracting a broad spectrum of interest, and culminating in multiple offers to purchase the rare high street hospitality offering.

“We’ve got a great deal planned for this aesthetically magnetic property, but everything we do will be designed to only strengthen the relationship the business has enjoyed with the local community for decades” commented Purchaser, Michael Wiggins.

“It really is an extraordinary looking property, and has great scope for repositioning” Wiggins added.

The national hotel landscape has been more active in the past 18 months than any other period in its well publicised history. Having sold the Crossroads Hotel last week for the all time record sale for a pub in Australia, specialist firm HTL Property is buoyed by the way in which 2022 has already performed.

“We have managed the sale of 8 particularly significant hotels over the past 8 days, but it is the complexion and spread of successful investor interest that represents the greatest learning from this short yet instructive period of time” advised HTL Property Managing Director, Andrew Jolliffe.

“Notwithstanding the contemporary volume of sales reported, the industry remains hugely fragmented; and it is our submission that those that act strategically and with purpose during this time, will be beneficiaries of sustainable portfolio augmentation for years to come” concluded Jolliffe.

End.

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