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Article: Rydges goes on shopping spree.
- Article from:
- Australasian Business Intelligence
- Article date:
- October 11, 2009
CopyrightCOPYRIGHT 2009 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Bridget Carter
Oct 11, 2009 (The Australian - ABIX via COMTEX) -- Amalgamated Holdings has spent $A34.2 million buying the Rydges Gladstone and Townsville hotels from the Abacus Hospitality fund. The purchases will further expand Amalgamated's $A700 million property portfolio. In 2008, the Australian-listed company paid $A56.5 million for the Gold Coast International Hotel. The firm has also flagged plans to expand its entertainment business via the purchase of two ...
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