Sydney pub owners Bill and Mario Gravanis are continuing their rapid expansion across Australia’s thriving hospitality sector, acquiring the $54 million South Terrace Hotel in Bankstown. The purchase adds to the brothers’ growing portfolio and further cements their presence in Sydney’s south-west.
The deal comes just a week after their hospitality platform, Oscars Group, in partnership with Craig and Tierzah Power of The Pub Group, sold five Tamworth venues for $160 million.
The back-to-back transactions highlight the ongoing strength of Australia’s pub market, which saw more than $2 billion worth of venues change hands last year, with NSW alone recording over $245 million in sales so far this year.
While the Gravanis brothers did not comment on the acquisition, JLL broker John Musca described them as one of the most successful operators in the national hospitality industry over the past decade, noting their continued investment and reputation for developing leading venues.
The South Terrace Hotel, acquired from ASX-listed Redcape Hospitality, sits on a 2,100-square-metre site and features a sports bar, beer garden and a 28-machine gaming room.
The acquisition forms part of a broader national expansion strategy. Over the past year, the brothers have purchased Brisbane’s Orion Hotel for $30 million and The Plough Inn for $40 million, while also entering the South Australian market with three Adelaide hotel acquisitions worth $80 million.
Their high-profile purchase of Sydney’s Luna Park for more than $50 million at the end of 2024 further underscored their growing influence, positioning the Gravanis brothers as major players in Australia’s hospitality landscape.
Source: Australian Financial Review
