Hallmark Hospitality has continued to divest venues, selling renowned Toowoomba pub, The Spotted Cow.
Following the sale of the majority of its venues to Australian Venue Co. (AVC) in September, Hallmark Hospitality has now sold its last remaining pub, The Spotted Cow Hotel in Toowoomba. The group had acquired the pub in 2020 off Mick and Dianne Coorey, and had renovated the venue.
The Spotted Cow Hotel has now been sold to Ben White, son of renowned publican Michael White, who owns the Bracken Ridge Tavern in northern Brisbane. Having worked alongside his father in the Bracken Ridge Tavern, Ben White is looking to begin a new chapter in his career and in the history of the Spotted Cow Hotel.
“The Spotted Cow Hotel has long been a pillar of the Toowoomba community, and we’re excited to carry the torch forward,” stated White.
“We plan to preserve the traditions that locals love, while introducing new elements to make the venue even more vibrant and welcoming. Our focus will be on enhancing the guest experience, maintaining the venue’s rich history, and expanding its offering.”
The sale of the Spotted Cow Hotel was facilitated by HTL Property’s Glenn Price, who remarked on the strength of the pub market across the country, particularly in regional areas.
“Pub sales remain robust nationally, especially those here in Queensland. The Spotted Cow represents a well-established venue with a strong historical presence; and we wholly expect its new ownership under Ben White to only enhance its rightfully elevated position of prominence in the market.
“The sale of The Spotted Cow Hotel is part of a broader trend in the Australian pub industry, particularly in the context of pubs selling outside the major metropolitan areas across Australia. This year, 2024, is on track to potentially set a record regarding the number of pub sales within regional areas across the major Eastern markets; and in doing so, reflecting strong market confidence and investor demand. These types of properties continue to attract substantial interest due to the proven and robust nature of their diversified revenue streams; and the value associated with underwritten business and land fundamentals; complemented by very valuable gaming machine entitlements,” suggested Price.
Hallmark Hospitality, named Best Hotel Group Operator at this year’s QHA Awards, currently owns no pubs after selling 11 venues – including The Lord Alfred; Lefties Music Hall on Caxton Street; Finn McCool’s Irish pubs in both Brisbane and on the Gold Coast; and The Cavill Hotel on the Gold Coast – to AVC. However as part of the sale to AVC, the Hallmark Hospitality teams, including director Scott Hempel, will continue to operate the venues.
Hallmark Hospitality have retained ownership of Maggie May in Newstead and Lost Kingdom nightclub in Surfers Paradise.