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Pub baron buys back into hotels
  Date Released: Thursday 13th July 2006
 

Source: Australian Financial Review

Pub baron buys back into hotels

After selling much of his empire earlier this year, Queensland pub baron Tom Hedley has re-entered the hotel sector, paying about $34 million for the famed Kirra Beach Hotel on the Gold Coast and two smaller pubs in northern NSW.

The seller, Byron Bay-based spa king Eddie Phillips, has long had plans to develop the Kirra Beach Hotel by adding more than 20 luxury residential apartments similar to John Cornell's popular Beach Hotel further down the coast.

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