Jon Adgemis’ Public Hospitality Group puts first pub on the market

Jon Adgemis’ heavily indebted Public Hospitality Group has put the Empire Hotel in Sydney’s inner west suburb of Annandale up for sale, the first asset from the portfolio on the market since the collapse of a refinancing deal with Bain Capital.

The expected price is not public. Mr Adgemis’ PHG owns several high-profile venues in Sydney and Melbourne including The Strand Hotel in Darlinghurst and Oxford House in Paddington. PHG has been attempting to refinance for months, with finances increasingly stretched since the collapse of the $500 million Bain deal.