EXCLUSIVE -- Labor’s Secret $15 Million Hotel Loans Revealed

Mar 6, 2019


“Exclusive information” information obtained by FIVEaa Breakfast undermines the opposition’s criticism of a treasury loan to fund a new hotel at Adelaide Oval, reports David Penberthy.

Penbo said during Wednesday’s Breaking @ 8 segment:

“We understand that in its last term of government the state Labor government approved more than $15 million worth of taxpayer-funded treasury loans for three different private hotel projects.

“One of them involved one of the richest hotel chains on earth, a company that sends all of its profits straight off shore. As far as I’ve been able to gather with one exception the other two loans were made in secret.

“I understand that $6 million was leant to the Mandala Property Group… that money -- taxpayer dollars -- was lent to help fund the 150-room Travelodge hotel on Bentham Street…

“A second loan to the value of $5 million was made to the Sofitel group… that loan was for the recently opened 250-room hotel in Currie Street…

“Then there is a mysterious third loan also totalling $5 million that I understand was earmarked to be lent to a development in the Barossa Valley called the Barossa Weintal…

“Whether these loans were secret or not they were given by the former Labor government on the same basis that the Marshall government is backing the SMA -- that is, to bolster jobs and to bolster tourism… Last year when news of the oval deal broke the opposition and the hotels association were quick to pile on…

“In light of the secret loans that Labor signed off while in office it’s time for the opposition to come clean and explain why it isn’t guilty of inconsistency if not hypocrisy.”