By Triana O'Keefe, editor – Australian Hotelier
Prominent Adelaide venue The Stag turned to Facebook to announce its sudden closure on Wednesday.
The announcement, posted by the hotel’s management team, read: “Hi everyone, with a heavy heart we have unfortunately closed the doors here at The Stag Hotel. Our customers were our family and we thank everyone that supported the hotel over the years”.
Australian Hotel Association (AHA) SA chief executive Ian Horne said the closure is indicative of rising financial pressure.
“It’s an iconic premises in a key location and it’s just come through the ‘mad March’ period with the Fringe, with all the activities, but even that wasn’t enough to sustain it,” he told ABC Radio.
The Stag opened as a hotel in 1852 and is on the State’s heritage list. Its current owners have held it for about 8-9 years however, in March this year it was placed in receivership.
On Wednesday, a notice posted on the venue’s closed door claimed the lessee, Complete Hospitality Pty Ltd had failed to produce rent of $20,713.22 for the month of April.
The Stag joins a number of closures recently including popular jaunt the Dog and Duck. Industry insiders have also suggested there are a number of CBD venues on the market or in receivership. It has also been suggested, through comments on The Stag's Facebook page, a nearby hotel will announce its closure shortly.