Following HTL Property’s recent sale of Sydney’s large format Strathfield Hotel to Sam Arnout’s Iris Capital, the acquisitive entrepreneur has again significantly expanded his Northern Territory operations with the acquisition of three iconic Top End pubs and two stand alone accommodation hotels.
Already the owner of the award winning Alice Springs Casino, Arnout’s market shaping hospitality business has swooped to acquire the independently owned Gap Tavern, Todd Tavern, Diplomat Hotel, Mercure Hotel and Aurora Hotel; all situated in the developing city of Alice Springs.
The materiality of the private investment by Iris Capital into the world famous Alice Springs mirrors the Government’s own strategy to invest money into arts and other community projects in the tourism hotspot; underwriting the longevity and sustainability of the area’s magnetism to both domestic and international markets.
The largest of the three pub transactions concluded by Iris, The Diplomat Hotel, has been sold by the highly regarded Waratah Fund who recently set the NSW regional record sale in the form of its $28m divestment of the Victoria Hotel in Wagga Wagga.
