Oscars’ Mario and Bill Gravanis have made their first big move into the red hot regional market, partnering with Craig Power to purchase the entire The Pub Group Tamworth portfolio from Bevan Douglas.
The Pub Group, based in the NSW regional centre of Tamworth, was founded in 1989 and has been owned and operated since by AHA life member and Hall of fame inductee Bevan Douglas and his wife, Joan Douglas.
For the past decade the reins have mostly been held by Bevan’s son Jarod, with his wife Tanika, alongside Group director Craig Power and his wife, Tierzah Douglas.
A new 50/50 partnership with the Gravanis brothers, founders of Oscars Hotels, will take the collection, counting The Longyard Hotel, The Pub, Southgate Inn, The Family Hotel, The Good Companions, Moonshiners Honky Tonk bar and Britten’s Brewery.
The regional play is a first for the Gravanis’ and the wholesale sale allows the Douglas’ to fully enjoy retirement. Jarod and Tanika Douglas will reportedly be moving on to pursue other interests.
Power has been mates with the Oscars front men for over 20 years, and took the idea to them.
“When the opportunity came up, they were the first guys I rang,” he recalls. “I said ‘I want to buy the family business here, are you interested in doing it with me?’ and they replied ‘yeah, no worries’.”
Power is animated about the deal, continuing the good standing of the group in the region while bringing aboard big hitters from the big smoke.
“It’s the strength of two good operators coming together to build something bigger and better.”
Plans are to retain the brand, The Pub Group Tamworth (TPG Hotels), which has a strong local standing, and pending some reinvigoration once venues are out of lockdown the guys plan to continue discussion on the growth strategy.
“Once we’re fully over restrictions we can invest properly back into what we’ve got, then go have a look at what’s out there.”
The Pub Group have owned or operated the majority of hotels within Tamworth over the decades, and himself a born and bred local, Power believes it has been underrated for a long time and suggests numbers in the group’s venues over the last 30 years are competitive with any regional hotels.
The fresh operators spy a lot of growth in the interest in northern NSW regional markets, such as Tamworth, Armidale, Narrabri, Moree and Grafton.
Tamworth itself is rocketing toward a population of more than 100,000, expected in the next few years, amid multiple developments and major funding toward infrastructure in key local industries of manufacturing and agriculture.
Power says the area is seeing a “generational boom” and after pandemic disruption this year is looking toward capitalising on the town’s biggest claim to fame.
“Getting back to being the country music capital of Australia. That’s a brand no-one else has.
“The upcoming 50th festival is promising to be massive.”
