AHD to buy two Rydges hotels for $34m

AHD to buy two Rydges hotels for $34m

Hotel and cinema operator Amalgamated Holdings (ASX:AHD) said it had arranged to acquire buy two of the hotels it manages for $34.2 million.

AHD has signed a contract to purchase hotels Rydges Gladstone and Rydges Townsville from the Abacus Hospitality Fund.

Both are 4-star hotels with around 95 rooms, and have been managed by AHD subsidiary Rydges since 2007.

AHD stock climbed 1.15% to $5.26 following the announcement.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags hotelsAmalgamated HoldingsRydges

More about Abacus

Show Comments