The long-pouring National Hotel in Bendigo has sold for an undisclosed price, with the new owners taking a "if it's not broke, don't fix it" approach to its future.
Subscribe now for unlimited access.
or signup to continue reading
The new owners, an operator from Melbourne with an accommodation background, planned to continue what the realtor said was already "a thriving business".
"The purchases identified it as something that they wanted to acquire given how strong the business is now," Senior Vice President JLL Hotels Will Connolly, said.
"Its a well established successful business now, and the new operators simply want to carry it on into the future."
Part of carrying it into the future did not include closing the hotel after sale settlement for refurbishments, Mr Connolly said.
"[The new owners] will be carrying on as soon as it settles," he said.
"They have no plans on closing and refurbing, they will be continuing on with the business as is."
While the sale price was concealed, the National's sale combined with the Foundry Hotel in Bendigo and Warnambool Whaler's Hotel represented $38 million in sales, the statement said.
The National sale includes a public bar, alfresco area, 100-person seat bistro, pool and spa, and 24-unit accommodation offering.
"The volume of accommodation certainly appealed to [the new owners]," Mr Connolly said.
MORE NEWS:
The sale marks the end of a 20-year tenure for publicans Bruce Morcom, John Russell and Budge Russell.
"We can now reflect on an incredible tenure and look forward to seeing the new ownership take the reins," the trio said in a statement.
The hotel was on the market for five weeks.
Digital subscribers now have the convenience of faster news, right at your fingertips with the Bendigo Advertiser app. Click here to download.
