Latest News

Back to Latest News back

 

Hoyts Cinemas sold to Chinese-backed ID Leisure Ventures

Hoyts Cinemas sold to Chinese-backed ID Leisure Ventures
February 9, 2015

The Hoyts cinema chain has been sold to a British Virgin Islands investment fund backed by one of China’s richest men.

Hoyts - which also includes a network of DVD and Blu-Ray rental machines, and the Val Morgan advertising group - was sold to ID Leisure Ventures for a believed sum of $900 million..

Hoyts’ previous owner, Pacific Equity Partners, had been eyeing a possible stockmarket listing, with valuations for the group at about $850 million.

However, the plans were shelved after a roadshow through Hong Kong, London and New York, with the decision made to focus instead on a trade sale.

ID Leisure is a Virgin Islands-based investment fund founded Chinese billionaire Sun Xishuang, an entrepreneur who owns majority interest in the Dalian Yifang Group, a Chinese conglomerate, and other investments including Beijing-based cinema giant Dalian Wanda.

Hoyts Chief Executive Damian Keogh recently stated that his company looked forward to moving ahead with a new investor.

In a statement, Keogh explained "Hoyts is embarking on a number of exciting opportunities and together with ID Leisure, we will continue to invest in the exceptional customer experience currently offered to 20 million attendees annually.

"Innovation and expansion will be a focus following the recent launch of Hoyts Lux, a new premium cinema experience which will be rolled out across Australia and Zealand."

Hoyts, Australasia's second-biggest cinema operator, includes 400 screens across Australia and New Zealand, rental machines in 650 locations and the Val Morgan cinema screen advertising operation.

Pacific Equity Partners acquired Hoyts in 2007.

7th January 2014 - CHINA’S WANDA GROUP COMMITS TO BUILD UP TO 120 NEW IMAX SCREENS BY 2021

16th November 2013 - HOYTS NZ CINEMA UNIT ALMOST DOUBLES ANNUAL PROFIT


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Aflex Inflatables

Aflex Inflatables are the leaders for obstacle courses, pool toys, waterparks and land-based watersides and fitness runs. They are industry leaders offering the widest range of pool, lake and beach…

read more

Aquatics / Play / Waterparks

 
 
 

Intelligenz

Intelligenz provides Leisure Management Software for managing all your Program Registrations, Facility Bookings, Membership Sales and POS Transactions; including detailed Reporting, automated…

read more

Access / Billing / Finance / Marketing / Technology

 
 

AUSTRALIAN WATERSLIDES AND LEISURE

A leading designer and manufacturer of innovative waterslides and attractions, Australian Waterslides and Leisure (AWL) is also able to advise clients in the areas of concept and design, feasibility…

read more

Aquatics / Attractions / Play / Waterparks

 
 

VIVATICKET

As of the 1st July 2018, Enta Australasia Pty Ltd/Best Union has been rebranded as VIVATICKET Pty Ltd.  19th July 2018 - ENTA AUSTRALASIA REBRANDS AS VIVATICKET 17th October 2016…

read more

Attractions / Entertainment / Sport / Ticketing / Venues

 
 

QUAYCLEAN

Quayclean are a national cleaning and waste services partner with proven results in the understanding and delivery of cleaning needs and challenges faced by facilities including; major venues and…

read more

Aquatics / Hospitality / Surfaces / Venues

 
 

METRA Australia

METRA Australia is your innovation partner for smart electronic locking, Access Control solutions and cashless payment systems to suit all types of leisure facilities.  Our team’s…

read more

Aquatics / Attractions / Fitness / Recreation / Security

 
 

TECHNOGYM AUSTRALIA

Technogym is the leading company in the Wellness and Fitness field all over the world. With 2,200 employees, 14 branches in Europe, U.S., South America, Asia  and Australia, Technogym exports its…

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