in 2009, metro hotels contemplated to build a $20 million, 170-room, four-star hotel in auckland, new zealand on the site where a brothel operated. however, due to the financial crisis of 2007–2008, the plan never materialized. in 2011, metro hotels acquired a pub in haymarket, new south wales which was originally called the palace and was opened in 1877. the company changed its name from "paddy mcguires pub" to "yardhouse bar and brasserie". metro hotels soon received notice from yardhouse, a theme pub operator in the united states, that it had an australian registered trademark in australia for the yardhouse name. metro hotels renamed the hotel "the palace since 1877".