Former Wallaby Bill Young has paid c$37 million for Ryde’s Royal Hotel.
The off-market purchase from another hotelier, Patrick Gallagher, was negotiated by HTL Property’s Dan Dragicevich and Andrew Jolliffe.
The incoming owner holds a half dozen venues, including, in metropolitan Sydney, at Concord and Glebe.
Last year Mr Young spent $15m for Five Dock’s Illinois Hotel, which was converted from a strip club to a family friendly venue.
Regional hotels sold
In Orange, the Robin Hood Hotel, on 3.3 hectares, is trading for c$19m.
Mr Dragicevich and Mr Joliffe said this venue would seed a fund to be managed by husband-and-wife Sydney publicans, Jason and Peta Marlow.
Vendor, the Marshall family, held it for 22 years (story continues below).
“Our family has thoroughly enjoyed its tenure at this wonderful hotel however it is time to move on, and in doing so we are delighted to pass the reins to another family enterprise with a rich history of hotel operations,” Warwick Marshall added.
This property comprises accommodation, drinking and dining spaces, and a drive through bottle shop.
Orange is about 250 kilometres west of Sydney.
Meanwhile, at the NSW Central Coast town of Toukley, former Rothschild managing director David Kingston has sold the Beachcomber Resort, otherwise known as The Beachie, after 25 years.
JLL Hotels & Hospitality Group’s John Musca brokered the $20m deal.
The purchaser is Gravanis Brothers’ Oscars Hotel Group, which is planning to convert it as a four-star resort with 80 suites, indoor and outdoor bars, restaurants, six function rooms, gaming and bottle shop.
A 20 metre pool, sauna, gym, wellness services and three level car park is also earmarked.