AUSTRALIA: Wine centre “could have made profit"
Australia's problem-plagued National Wine Centre could have been rescued and made profitable, according to a newly released independent report.
The study for the government, by independent insolvency consultant Barry Carter, said approaches from major international operators such as the Accor hotel group were ignored by the South Australian Government.
The lavish centre, in the South Australian capital Adelaide, cost A$28m (US$21.4m) to build. Subsequent costs pushed the price above A$30m (US$23m) before it was leased to Adelaide University for 40 years at A$25,000 a year. Carter's report said a new board, a one-off industry contribution and outsourcing could have saved it and turned it profitable.
- Diageo NA head on Trump, Millennials, Bourbon
- Has Millennial-mania drowned out elder consumers?
- Interview - Loch Lomond GTR head Andre de Almeida
- Absolut and Smirnoff's conflicting Millennial view
- Trump, local spirits and the IR role - The Analyst
- Beam Suntory opens global headquarters in Chicago
- Diageo wine assets integration head to leave TWE
- Absolut not "sufficiently focussed" on Millennials
- Pernod Ricard targets at-home drinking
- Molson Coors names UK & Ireland managing director
- Luxury Alcoholic Drinks: The Spirit of Premiumisation
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends