Prendiville confirms Brisbane Hotel deal
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The Prendiville Group issued a statement today saying the hotel is now owned and operated by one of its subsidiaries, Brisbane Hotel Holdings Pty Ltd.
“The previous licensee is no longer involved with the property in any capacity and therefore their company going into voluntary administration (sic) has no effect on the current ownership and operations of The Brisbane Hotel,” the statement said.
Prendiville Group said it was business as usual, and the liquidation had no impact on any confirmed reservations or function bookings.
ASX-listed Lantern Hotel Group sold the freehold to the hotel in October 2016 for $9.5 million.
At that point in time, the hotel was leased to Mr Hayward’s Capital Management WA until 2020, with four 12-year options also available.
Prendiville Group was understood to have acquired the freehold through that deal, and more recently acquired the leasehold.
Mr Hayward was part of an investment group that took over the operation of the run-down Highgate hotel in 2003, refurbishing it into a contemporary establishment.
He has been involved in several prominent hospitality venues, including Bar One, Luxe Bar, Monza and The Boulevard, formerly the Floreat Hotel.
Prendiville Group is one of WA’s largest hospitality operators.
Its assets include Sandalford Wines, Hotel Rottnest, Cottesloe Beach Hotel, The Norfolk Hotel, Pier 21 Apartment Hotel, Tradewinds Hotel Fremantle , Karratha International Hotel, Mangrove Resort Hotel, BP Norseman and Balladonia Hotel Motel.