Entertainment giant EVT Limited (ASX: EVT) has completed its acquisition of Pro-invest Hotels. The deal marks the official launch of EVT Connect Hospitality on 2 December 2025. This EVT acquisition Pro-invest Hotels transaction adds 15 hotels and 3,200 rooms under management.
Figure 1: A selection of hotels and resorts operated by EVT
The Company now operates over 100 hotels and resorts across Australia and New Zealand. EVT completes acquisition, becoming the second largest hotel operator in the region. The strategic move strengthens EVT’s position in the competitive hospitality market.
What Does the EVT Acquisition Pro-invest Hotels Deal Include?
EVT paid AUD 74 million upfront to the third-party management Company Pro-invest Hotels. An additional scaled consideration capped at AUD 30 million is payable. This depends on EBITDA performance in 2025 and 2026.
The acquisition was funded through EVT’s existing bank debt facility. The deal was initially announced on 18 August 2025. All conditions precedent have now been satisfied for completion.
EVT Hospitality Expansion: Three Strategic Pillars Explained
The EVT hospitality expansion follows a clear three-pillar growth strategy. EVT Owned Brands include QT, Rydges, Atura, and LyLo. These expand through city hotel ownership and asset-light management solutions.
EVT Independent Collection allows asset owners to retain brand IP ownership. They can leverage EVT’s extensive experience across 20 properties. EVT Connect Hospitality enables hotel owners to franchise third-party brands.
The third pillar combines EVT’s capabilities with third-party hotel franchises. This delivers above-market performance for hotel owners. EVT completes acquisition, positioning itself for accelerated growth.
Financial Impact: What Investors Should Know
EVT forecasts incremental normalised EBITDA of approximately AUD 8 million to AUD 9 million. This includes synergies on an annualised basis. The acquisition represents an approximate 8x EBITDA multiple.
Pro-invest Group retains asset management responsibilities for 15 hotels. These are owned by three hotel investment funds. The management platform continues operating through Pro-invest’s fund management division.
The Company reported net debt of AUD 311.9 million for the period ended 30 June 2025. This remains consistent with pre-COVID levels. EVT’s property portfolio value has increased by 15% since 2020.
Leadership and Management Structure
CEO Jane Hastings commented on the EVT acquisition Pro-invest Hotels completion. She called it a significant milestone in the Group’s hotel growth strategy. The Pro-invest team joins EVT under new leadership.
Figure 2: EVT CEO Jane Hastings
Mathew Duff leads as EVT Director of Commercial and Connect Hospitality. He designed EVT Connect Hospitality to power third-party brand performance. Troy Cuthbertson joins as General Manager of Operations.
Cuthbertson brings over 30 years of industry experience to the role. His appointment signals EVT’s commitment to operational excellence. The EVT hospitality expansion strategy prioritises experienced leadership.
Where Does the Company Stand after the EVT acquisition Pro-invest Hotels
EVT now manages a network exceeding 100 hotels and resorts. This includes confirmed pipeline properties across Australia and New Zealand. The Company holds the second position among regional hotel operators.
Figure 3: One of the flagship hotels now under EVT management
The EVT acquisition of Pro-invest Hotels brings 15 long-term management agreements. These average approximately 16 years in duration. Most include franchise agreements with major global brands.
EVT’s property portfolio totals approximately AUD 2.3 billion in value. The Company continues identifying non-core assets for divestment. This totals approximately AUD 100 million in potential sales.
Industry Outlook: Australian Hotel Management Sector
The Australian hotel management industry continues to consolidate among major operators. Third-party hotel management represents a well-established international model. EVT Connect Hospitality enters this growing segment.
Hotel owners increasingly seek flexible management solutions with local expertise. The market demands integrated services from brand development to operations. EVT completes acquisition positioning for this demand shift.
EVT Share Price Performance
EVT shares closed at AUD 14.00 on 2 December 2025. The stock trades within a 52-week range of AUD 10.94 to AUD 17.99. Market capitalisation stands at AUD 2.24 billion.
 
Figure 4: Share price performance over the past 12 months
The Company declared a dividend of 22 percent per share. This was fully franked and paid on 25 September 2025. EVT reported total revenue of AUD 1.24 billion for the year.
Normalised EBITDA reached AUD 160.8 million, up 6.3% from the previous period. Reported net profit hit AUD 33.4 million, increasing 593%. The EVT hospitality expansion supports continued dividend payments.
Future Outlook and Growth Plans
EVT expects EBITDA growth, subject to film performance and weather conditions. Hotels division targets another record year after Queenstown refurbishment adjustments. Thredbo expects EBITDA between AUD 25 million and AUD 30 million.
The entertainment division anticipates growth, subject to film performance and release dates. The Company maintains a committed hotel growth strategy. EVT completes acquisition, accelerating this strategic priority.
Management explores options to advance the hotel growth strategy. The “Fewer/Better” cinema strategy continues to progress. Non-core property asset divestment remains on track.
FAQs
Q1: What is the total consideration for the EVT acquisition Pro-invest Hotels?
EVT paid AUD 74 million upfront for Pro-invest Hotels. Additional consideration capped at AUD 30 million depends on EBITDA performance.
Q2: How many hotels does EVT now operate?
EVT operates over 100 hotels and resorts across Australia and New Zealand. This includes confirmed pipeline properties.
Q3: What is the expected EBITDA contribution from this acquisition?
The acquisition delivers incremental normalised EBITDA of approximately AUD 8 million to AUD 9 million annually. This includes synergies.
Q4: Who leads the new EVT Connect Hospitality division?
Mathew Duff serves as EVT Director of Commercial and Connect Hospitality. Troy Cuthbertson joins as General Manager of Operations.
