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Event Hospitality & Entertainment Ltd. ( (AU:EVT) ) has provided an announcement.
EVT Limited has completed its acquisition of Pro-invest Hotels, launching EVT Connect Hospitality, a new growth pillar aimed at enhancing third-party hotel brand performance. This acquisition positions EVT as the second largest hotel operator in Australia and New Zealand, with over 100 hotels and resorts. The deal, valued at $74 million, is expected to contribute an estimated $8-$9 million in incremental EBITDA annually, enhancing EVT’s market presence and operational capabilities.
The most recent analyst rating on (AU:EVT) stock is a Buy with a A$17.30 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 hospitality and entertainment industry, focusing on hotel management and ownership. The company manages a portfolio of hotels and resorts under its own brands such as QT, Rydges, Atura, and LyLo, and offers asset-light management solutions across Australia, New Zealand, and Southeast Asia. EVT also provides independent brand creation for asset owners and third-party hotel brand franchise management through EVT Connect Hospitality.
Average Trading Volume: 213,216
Technical Sentiment Signal: Buy
Current Market Cap: A$2.24B
See more data about EVT stock on TipRanks’ Stock Analysis page.