Hotel Property Investments Takes Advantage of Strong Pub Market With Sale of Wickham Hotel
Narrow-moat-rated Hotel Property Investments reported distributable income of AUD 28.6 million, 10% higher than our AUD 26.0 million forecast, despite slightly lower than expected average rental growth across the group’s pub portfolio. We had forecast higher maintenance costs and greater interest expenses in fiscal 2018. We expect maintenance expenditures to tick up again, and the hike in Queensland property tax is a AUD 0.5 million headwind from fiscal 2019 onwards.We maintain our fair value e...
Hotel Property Investments is an Australian Real Estate Investment Trust. Co. is engaged in real estate investment in the pub freehold sector in Australia. Co. owns a portfolio of 48 investment properties including 41 freehold pubs (and adjacent specialty tenancies) and 7 detached bottleshops leased to members of the Coles Group.
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