A fight between a high-flying pub investor and an investment bank has put the future of Sydney’s most iconic pubs under a cloud.
Comedians, UFC fighters, an ex-NAB chief executive and an NRL superstar are among those backing craft brewers in tough times. There’s plenty of fight left in the industry, with diversification into ready-to-drink spirits one of the weapons.
The Tea Gardens Hotel was purchased by John and Sally Ryan, who operate other Sydney venues Ryan’s Bar on George Street and the Paragon Hotel at Circular Quay.
The former Virtical director was the guarantor on an agreement to buy two Darlinghurst hotels from MA Financial that did not settle.
Universal Hotel Group has sold its leasehold interest in Bondi Junction’s The Mill as part of a bigger deal to acquire the Evening Star Hotel.
Merivale was shown internal financial spreadsheets by one major lender, but ultimately decided against exploring a deal, sources said.
