Woolworths-owned ALH Pays $19 Million For St Albans Hotel

ALH swooped on the hotel after an $18 million deal to pub baron Rick Munday did not settle, the AFR reports.

TJ Board director Terry Board marketed the pub, which sold on a multiplier of about 10.5 times earnings.

Mr Munday told the AFR he is in negotiations to buy the Diamond Creek Tavern from the Collingwood Football Club. He said negotiations to buy Port Melbourne’s Beach Hotel failed, after the Victorian Civil and Administrative Tribunal questioned the hotel’s liquor licence.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco

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