Redcape pays $40m for historic Orange hotel
MA Financial-backed Redcape Hospitality has acquired Orange’s landmark Hotel Canobolas for about $40 million, five years after the previous owners bought the Central West pub for almost half that amount.
The 1939-built Art Deco hotel was sold by a private investor consortium led by the Sukkar family of Buildcorp, alongside The Point Group, Ian Mayer and Anthony Lucisano.
The consortium paid about $24 million for the property in 2021 – a then-record for an Orange pub eclipsing a high that had just been set for the nearby Royal Hotel.
The latest deal is understood to be Australia’s largest rural and sub-metropolitan hotel transaction in 2026.
HTL Property’s Andrew Jolliffe and Dan Dragicevich were the agents.
Hotel Canobolas
On c4600 square metres at 248-254 Summer Street, in the heart of Orange’s CBD, Hotel Canobolas has 69 guest suites, of which 45 are currently operational, multiple bars and dining areas, function spaces, a gaming room has 14 electronic gambling machines, and courtyards (continues below).
Operating for more than eight decades, with a history including hosting an event for Queen Elizabeth II, annual revenue exceeds $10m.
Redcape chief executive Chris Unger said the group would continue investing in the property and execute an existing development approval to expand its ground floor and accommodation offering while retaining its Art Deco character.
The acquisition follows a period of investment by the outgoing consortium, which Point Group chief executive Brett Robinson said focused on improving the property and its contribution to the Orange community.
“It has been a privilege to be part of the Canobolas story and we are pleased to see the Hotel Canobolas enter its next chapter in a strong position, with the new owner well placed to continue its vision for the property and build on what has been achieved to date,” he added.
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