By Triana O'Keefe, editor Australian Hotelier
In what is the group’s largest acquisition to date, Redcape Hotel Group has acquired the Crown Hotel Revesby for over $30 million.
The campaign was managed by Jones Lang LaSalle’s John Musca and is due to settle in a few weeks.
The well-established hotel currently boasts Top 20 Gaming venue status, modern sports bar and traditional Irish offering.
The acquisition follows an active year for Redcape in 2014, with the group adding Eastwood’s Landmark Hotel to its portfolio, together with plans to expand its nearby venue Eastwood Hotel.
Redcape CEO John Russell recently told Australian Hotelier the group was strongly focused on "portfolio enhancement".
“We’ve maintained a keen interest in adding to our portfolio, albeit selectively with a focus on acquiring assets where our expertise can be applied to unlock tangible value,” he said.
For the full interview with John Russell, see the 2015 Leaders Forum edition of Australian Hotelier.