AUSTRALIA: Lion Nathan reviews hotel future
The Australasian brewer and winemaker Lion Nathan has said that it is reviewing the future of its 41 hotels across Victoria, following recent strong interest in hotel investment in the market.
Lion Nathan said it had entered into preliminary discussions with a number of parties about the future ownership and management of its hotel portfolio.
"Lion Nathan's primary objective is to ascertain whether there are alternatives to the current structure which will maximise returns to shareholders, while continuing to grow the presence of the company's beer brands in the Victorian market, " Lion Nathan said in a statement to the Australian Stock Exchange.
The company said it was not looking to sell individual venues.
Australian Leisure & Hospitality Group (ALH) has already said that it is not one of the groups in talks with Lion Nathan about the hotels.
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Lion Nathan has said it is on target to reach its full-year net profit after tax forecast for 2005 of between A$230m and A$235m before one-off charges....
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