By James Atkinson
The management of Redcape is touring the country this week to meet investors ahead of the impending float of Hotel Property Investments (HPI), a real estate investment trust with a portfolio of 41 pubs and seven bottle shops that are leased to Coles.
The investment roadshow is being conducted by Redcape CEO John Russell, CFO David Charles and the new chairman of Hotel Property Investments, Mike Tilley, the former Challenger Financial boss.
Tilley, Russell and Redcape chairman Trevor O’Hoy will be joined on the board of HPI by former Tatts Group CFO Ray Gunston and Lachlan Edwards, investment banker at Lazard.
HPI is expected to lodge its prospectus next Thursday, November 21, with a listing date of December 12.
After the float, the streamlined Redcape entity will continue as the owner operator of its 29 remaining venues, but has been tipped to change its name in the new year.