Latest News

Back to Latest News back

 

Ardent Leisure looks to sell marinas division

Ardent Leisure looks to sell marinas division
March 31, 2016

Theme park, bowling centre and fitness club owner Ardent Leisure has put its d’Albora Marinas business up for sale, reportedly looking to use funds from the sale to further develop its Main Event family entertainment division.

With the d’Albora Marinas division believed to be worth in excess of $110 million, financial analysts are speculating that the sale may precede Ardent being acquired by a private equity fund.

Following speculation that Ardent might be acquired by China’s Dalian Wanda Group as part of its plans to develop attractions on the Gold Coast, the Australian Financial Review's Street Talk column has suggested that private equity giant The Carlyle Group may now be looking to acquire the group.

Ardent is valued at around $1.06 billion on Australian Stock Exchanges (ASX).

d’Albora Marinas comprises seven high profile marinas, including three in Sydney Harbour, two adjacent to the Melbourne CBD and a further two at the popular l destinations of Nelson Bay and Akuna Bay, north of Sydney. These locations represent over 1,300 berths, substantial water and land leases with development opportunities.

d’Albora Marinas, the largest marina group in Australia, saw interim revenues fall 2.3% in the company’s most recent results, with earnings before interest, tax, depreciation and amortisation sliding 8.6% to $4.6 million over the six months through December.

A statement from Ardent Leisure said the sale of the marinas will “assist in accelerating the pace and development” of the Main Event business in the US, as the company bumped up the number of new centres it plans to open in the 2017 financial year to 11, up from a previously planned 8, bringing the total number of centres to 38 locations across 12 states.”

Ardent Leisure Chairman Neil Balnaves added “these decisions follow a period of review over the last six months and position the group as a premium family recreation and entertainment company.

“Deborah Thomas and the management team have commenced the process for the sale of d’Albora Marinas and the remainder of these initiatives will be implemented as a priority over the next 12 months.

“In due course it is expected that, with the growth of the US assets outweighing that of the Australian businesses, the balance of the group’s assets and revenues will become more weighted to the US.”

Click here to read the AFR story.

Images (from top): d’Albora Marinas' properties at Nelson Bay and Akuna Bay.

18th February 2016 - ARDENT LEISURE RECORDS 20% PROFIT RISE BACKED BY IMPROVED FEC AND THEME PARK VISITS

4th January 2016 - DALIAN WANDA’S GOLD COAST THEME PARK PLAN WOULD HIT EXISTING ATTRACTIONS

21st August 2015 - ARDENT LEISURE RECORDS PROFIT DIP BUT LOOKS AT FEC EXPANSION

22nd July 2015 - ARDENT LEISURE PLANS INTERNATIONAL EXPANSION


Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.

Click here to view our subscription options.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Anti Wave International

Anti Wave International is the original suppliers of top performance swim, aquatic sports, leisure and pool programming equipment. Founded in 1971, Anti Wave International is proud of its…

read more

Aquatics / Play / Sport

 
 

AUSFIT

Ausfit began in 1992, providing software services to the health and fitness sector including ClubWise, a fully hosted web-based product which combines state of the art club management software,…

read more

Billing / Finance / Fitness / Technology

 
 

TPEC Pool Enclosures

TPEC Pool Enclosures provide a large range of premium commercial and residential retractable swimming pool, spa and terrace enclosures throughout Australia, servicing residential, local government…

read more

Aquatics / Design / Recreation / Venues

 
 

Felton Industries

Felton Industries is Australia’s leading designer, manufacturer and supplier of quality outdoor furniture and has been supplying premium seating solutions for all sporting, commercial, community…

read more

Parks / Play / Recreation / Sport / Venues

 
 

Hydrocare Pool Services

Hydrocare Pool Services Pty Ltd offer 30 years of experience in aquatic industry features, products and water treatment. Hydrocare Pools has undertaken water treatment for aquatic centres and…

read more

Aquatics / Attractions / Play / Recreation / Technology

 
 

HRMWEB

At easyemployer we've come up with a software solution that manages one of your most important, and often most costly, business resources - your staff. We are helping 100s of clients to…

read more

Finance / Fitness / Technology

 
 

Myzone

Email for trade enquiries: Enquiriesapac@myzone.org  Customer support desk - Click Myzone support or go to ‘help’ on myzone app to access live support. Myzone® is the leading…

read more

Fitness / Sport / Technology / Wellness

 
 

XBODY Australia Pty Ltd

PROVEN BUSINESS CONCEPTS WITH XBODY XBody’s goal is to see you and your EMS business succeed. That is why we don’t just sell equipment, we provide know-how, expert knowledge,…

read more

Fitness / Technology / Wellness

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business