Fraser Short has divested his half of a shared pub portfolio to partner Arthur Laundy, after a decade of working together.
Arthur Laundy and Fraser Short have signed a deal that sees Short cash-in his 50 per cent interest in their jointly owned portfolio of hotels to Arthur and Laundy Hotels. The portfolio includes the Watsons Bay Boutique Hotel, Park House Mona Vale, Northies at Cronulla, Lennox Head Hotel, Illawong Hotel and The Farm at Byron Bay.
Short and Laundy began their partnership ten years ago, investing $10 million collectively to build up an impressive suite of venues in New South Wales that are now worth an estimated $300 million.
“Needless to say I’m very proud of the venues we created together, how many people we employed, provided opportunities for and delivering a world class group of venues to our guests has been an extremely satisfying journey” stated Short.
Short came to the decision to move on from the partnership after reflecting on his priorities of late.
“The past several years have really crystallised what is important to me and where I’d like to place my energy moving forward,” states Short.
“My late father Warwick, also a very successful publican sadly passed away at 60 years young and I’m only a few laps away from 50. Whilst I’m not planning on going anywhere soon, it’s fair to say that’s always at the back of my mind. I have four amazing kids now, a wonderful wife and after decades of building multiple businesses, managing 1200 staff and dedicating my life to hospitality, it has taken me away from many special family moments.
“I’m very grateful to Arthur and the Laundy family who have been wonderful business partners and are supportive of my position and I wish them nothing but success as they move forward.”
Short also took a step back from his own group, The Sydney Collective, in 2021, naming Brett Sergeant as CEO. Short remains active in the business, focused on growth opportunities.
Arthur Laundy thanked Short for his partnership over the last decade, and is thrilled for his own family to take on the ownership of these venues and to see them grow further.
“I’ve been in this industry for over 60 years, and I am just so proud of what we have achieved as a family and we have been lucky to have some great partners along the way. Fraser’s partnership is one of those and the portfolio of hotels we have developed together are world class.
“It is a very exciting opportunity for us to welcome these hotels and their teams into our family. My family are fourth generation publicans and I am lucky enough to have all four of my children and their partners involved in the business, along with many of my grandchildren. The Laundy Hotels management team are a very talented team and they deliver a great product to all of our customers across NSW and Queensland venues.”
Laundy also stressed that he would be eager to work with Short again in the future.
“We have enjoyed a great relationship with Fraser for the past 10 years and would be excited to do things in the future again if the opportunity arose. However signing this deal gives myself and my kids a great platform to continue to grow Laundy Hotels as a family-friendly hotel group of the future.”