From SMH today: "New South Wales' pubs and clubs are faring...

From SMH today:

"New South Wales' pubs and clubs are faring better than
restaurants, cafes and greengrocers in the weaker retail climate, Australian Bureau of Statistics figures show. Turnover at the state's pubs and clubs reached A$742 million in April, 15 percent more than a year ago. "

That has to be good for keeping prices steady.

I think that is part of the markets concerns - that capitalisation rates for pubs would rise dramatically, putting pressure on HLG's debt covenants.