Sydney hospitality giant Solotel has acquired three of the five Public Hospitality venues put to market earlier this year.
After a tumultuous year, Public Hospitality lost control of Oxford House, The Norfolk Hotel, The Strand Hotel, the Camelia Grove Hotel, and The Exchange Hotel in September. The venues were taken over by insolvency firm FTI Consulting after New York-based credit investor Muzinich & Co pulled the pin on a proposed refinancing deal, according to the AFR.
FTI Consulting put the venues to market while continuing to operate them as usual.
Now, Solotel has announced its acquisition of The Norfolk in Redfern, Oxford House in Paddington, and Camelia Grove Hotel in Alexandria. The new additions take the group’s portfolio to 30 venues including iconic Sydney institutions the Abercrombie, Barangaroo House, Opera Bar, Aria, Chiswick, North Bondi Fish, Riverbar & Kitchen, Paddo Inn, Kings Cross Hotel, The Clock, The Golden Sheaf, The Bank, and Albion Parramatta.
Solotel CEO Elliot Solomon said the group has exciting plans to evolve the venues over the coming year.
“This is an incredibly exciting time for Solotel, and we couldn’t be prouder to be able to revitalise these much-loved venues for their communities and their teams. Each of them already delivers fantastic experiences for their guests and this opportunity means that the teams can access more resources to build on that,” says Solomon.
Public remains in control of 12 venues including Empire Hotel in Annandale and the Exchange Hotel in Balmain. The future of The Strand Hotel and The Exchange Hotel are yet to be determined.
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