Pub acquisitions demonstrate renewed interest in regional Australia Apr 8, 2021
Australians will be travelling domestically for quite some time, according to Australian Venue Co (AVC) CEO, Paul Waterson.
Mr Waterson believes the current pandemic environment has presented an opportunity for hospitality groups such as his to support the uptick of tourists in regional areas.
AVC has recently begun expanding into regional Australia, opening pubs and event venues across the country in popular coastal and regional tourist areas outside of the major cities.
Both the Jubilee Tavern in Airlie Beach and the Albion Hotel in Albury have been added to AVC’s portfolio of pubs and hotels in recent months. The Criterion Hotel in Yarrawonga, on the Victoria/New South Wales border, was also reopened in March after being acquired by AVC earlier this year.
The acquisitions reflect the renewed interest in regional areas of the country, as Australian tourists embrace domestic travel.
“These pubs are an important part of their local communities, and we want to keep it that way,” Mr Waterson said.
“After the events of 2020, we’ve seen that people value their country pubs more than ever.”
It’s likely we’ll hear more about AVC’s regional property investments over the next few months as AVC ramps up its focus on finding and opening pubs in Australia’s most beautiful remote locations.
“We’re looking for unloved, older beautiful pubs in great geographical areas that we can take and do quite substantial major renovations on and just bring some of these great pubs back to life,” Mr Waterson told Australian Hotelier earlier this year.