Event Hospitality & Entertainment plan for redevelopment

Company News

by Rachael Jones

Event Hospitality & Entertainment (ASX:EVT) held their annual general meeting for shareholders today.

The group showed they have plans for a number of owned properties that may be suited to future redevelopment.

Noted was a planned integration of the State and Gowings buildings in Sydney's CBD and an extension of the QT Sydney Hotel, subject to council approval.

Other properties identified for potential future development include 525 George Street, in Sydney, Rydges Melbourne, and 100 Cable Street, Wellington, adjacent to the QT Museum hotel.

In addition, a number of upgrades and improvements are planned at the Group’s Thredbo Alpine Resort.

They showed that the Group’s total cash balance at 30 June 2018 was $95 million with total debt outstanding of $375 million.

Shares in Event Hospitality & Entertainment (ASX:EVT) are trading 0.41 per cent lower to $14.44.