Woolworths strengthens grip on New South Wales hospitality sector
Woolworths has acquired the businesses and associated assets of 31 hotels and one detached bottle shop in New South Wales.
Through its hospitality company, ALH Group, Woolworths is taking out long-term leases on the 31 establishments. Woolworths already operates 27 hotels in New South Wales.
In a four-paragraph media statement released today, Woolworths said the acquisitions have the capacity to achieve good trading growth.
ALH Group Chief Executive Officer Bruce Mathieson Jnr said, “These hotel leases will complement our existing properties. Completion of the acquisition will occur once all applicable regulatory conditions have been met.”