Line-up to join rush for hotels

The race to become Queensland's next pub baron is heating up as a host of cashed-up buyers look to tap into a growing hotel market.Hotel change-over rates have been flat for three years but foreclosures and owners looking to decrease debt could spark a spending spree this year, causing sales to rival those of early in the decade. Between 25 and 30 pubs are now for sale.

Queensland's market is dominated by Woolworths' Australian Leisure Group and Coles, who between them own and operate almost one in five Queensland pubs. ALH has just increased its Queensland portfolio to 110 with the acquisition of The Gap Tavern in Brisbane for almost $9 million and the Dog and Parrott Hotel at Robina for $18.2 million. But it's the next crop of owners that could make the most noise.

Source: The Sunday Mail