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Event Hospitality & Entertainment Ltd. ( (AU:EVT) ) just unveiled an update.
EVT Limited has announced the launch of EVT Connect Hospitality, a new third-party hotel brand management model, alongside the acquisition of Pro-invest Hotels. This strategic move aims to enhance EVT’s hotel management capabilities and expand its asset-light business model. The acquisition, valued at $74 million, is expected to contribute an estimated $8-$9 million in annualized EBITDA, indicating a positive impact on EVT’s earnings. The transaction is anticipated to complete by early 2026, pending regulatory clearance.
The most recent analyst rating on (AU:EVT) stock is a Buy with a A$13.30 price target. To see the full list of analyst forecasts on Event Hospitality & Entertainment Ltd. stock, see the AU:EVT Stock Forecast page.
More about Event Hospitality & Entertainment Ltd.
Event Hospitality & Entertainment Ltd. (EVT) operates in the entertainment, ventures, and travel industries, focusing on hotel management and accommodation services. The company is expanding its presence in the hotel sector through ownership, asset-light management, and new market segments.
Average Trading Volume: 261,256
Technical Sentiment Signal: Buy
Current Market Cap: A$2.84B
For detailed information about EVT stock, go to TipRanks’ Stock Analysis page.