The Australian Competition and Consumer Commission this week has approved a joint venture involving 30 hotels between Australian Leisure and Hospitality Group and the Laundy family.
The two venture partners have settled settled the sale of a lease of 19 hotels across NSW worth $300 million. A further seven hotels – worth $200 million – will be added later. ALH will be the leasehold owner and operator of the hotels but Laundy will retain freehold ownership. Laundy will continue to run the remaining 12 hotels in the group.