By Ian Neubauer
Shares in major Australian hotel operators remained stable today in the face of troubling market developments that saw the Hedley Leisure Group (HLG) issue a voluntary trading freeze and shares in National Leisure Group (NLG) hit a record low of 2.6 cents.
Wooloworths shares shed 0.4 per cent in value today to reach $29.82 by 1:00pm after gaining 86 cents during trading this week.
Shares in the ALE property group lost 48 cents to reach $2.64 after opening at $2.278 this morning. ALE is 24 per cent owned by HLG but so far remains unaffected by HLG’s fallout.
Shares in Wesfarmers, which last year purchased the Coles and its three major off-premise chains, 1st Choice Liquor, Liquorland and Vintage Cellars, fell 1.6 per cent to reach $38.33 after opening at $39.50 today.
Shares in the Compass Hotel Group remained unaffected at 90 cents.