This article is from the Australian Property Journal archive
LANTERN Hotel Group is looking to take its hotel portfolio divestment program to another gear, and will seek approval from shareholders to sell-off its remaining properties at its annual general meeting.
The group began its divestment program in November, realising a combined $43 million at a premium to book value of $14 million.
These included the sales of the Dolphin, GPO and Bowral assets in Australia and Waikanae (and surplus land) and Albert assets in New Zealand in the 2016 financial year.
The Exchange Hotel sale settled early in July, with settlement of the Lawson Park and Courthouse hotels imminent and the Central Bundaberg sale process underway.
Lantern’s portfolio beyond those comprises seven owned and operated core hotels and one non-core hotel.
Australian Property Journal
