Redcape reinventions abound
Redcape Hotel group (ASX: RDC) recently unveiled two major hotel transformations – of a long-owned hotel and one newly acquired hotel.
The expansive hotel group purchased a Pig ‘N’ Whistle venue in Queensland’s Redbank Plains mid-year for $11.5m off Mantle Group. So as to differentiate the hotel from its former hospitality brand, Redcape have repositioned the venue as the Eden Brewhouse.
Four months after the acquisition, the hotel has been relaunched with a focus on smokehouse meals and craft beer, including with its main craft beer partner the Australian Brewery, also owned by Redcape.
“On 2nd December we welcomed the Eden Brewhouse staff, team and local community to the Redcape portfolio. Another great pub in the growing south-east QLD community of Redbank Plains,” stated Redcape CEO Dan Brady.
The Eden Brewhouse is one of only two leasehold assets within Redcape’s 33-venue portfolio. Of the purchase of the leasehold, Brady said at the time: “While our growth strategy is predominantly focused on freehold assets with alternate land optionality, we also have the appetite to pursue quality value accretive leasehold opportunities that meet our investment criteria and align with our objective of growing and diversifying our earnings.”
Redcape also undertook a $7m renovation of the Cabramatta Hotel in Sydney’s west in the middle of the year, refreshing the longheld asset that had become tired and was no longer taking full advantage of its position adjacent to a busy train station.
“The project marks a new level of refurbishment capability within Redcape, delivering a complete market repositioning of the hotel. Since launching in July, we have received an overwhelmingly positive response from our customers, the wider Cabramatta community and our industry peers. It has been a truly humbling experience,” Brady told Australian Hotelier.
The hotel has been redesigned with a modern opulence aesthetic, and had its internal offerings and façade transformed to make them more appealing to the local community, an aim which has been achieved through the refurbishment.
To read more on the Cabramatta Hotel transformation, check out the feature on the hotel in the latest issue of Australian Hotelier, here.