Elanor's Operating Divisions

Elanor's operating divisions comprise:

Hotels, Tourism and Leisure

Elanor's initial portfolio of hotels, tourism and leisure properties consisted of Peppers Cradle Mountain Lodge, Featherdale Wildlife Park, Hotel Ibis Styles Canberra Eagle Hawk and Mantra Wollongong. Elanor has since added ibis Styles Albany and continues to aim to use its management expertise to enhance the performance of the existing assets and to opportunistically expand the portfolio.
Elanor has also since seeded Peppers Cradle Mountain Loge and Mantra Wollongong into the Elanor Hospitality and Accommodation Fund. Establishing the Fund reflects the achievement of a key strategic objective of ENN as it represents the inaugural seeding of a fund with Elanor owned properties.

Funds Management

Elanor also manages third party owned investment funds. The Fund Management division has approximately $490 million of external investments under management and will continue to grow its investments under management through establishing new managed investment funds in the future. A key objective of Elanor will be to increase the proportion of Elanor's income that is generated from investment management fees. Elanor will aim to achieve growth in investments under management and investment management fees in a capital efficient manner.

Special Situation Investments

Elanor will identify and source new investment opportunities which demonstrate sustainable operating cashflows and a high level of physical asset backing, which may include the potential for real estate development or other capital improvement opportunities. This division will aim to realise value for Securityholders by improving the underlying business operations, unlocking value in the business real estate holdings and realising investments within the portfolio, as appropriate. The division will initially include the John Cootes Furniture business and the property on which the business is headquartered in Merrylands, NSW.