Joe Irvin has furthered his push into Queensland hotspots, taking over the Bungalow Hotel in Cairns from long-timers the Gibson family.
The original Bungalow Hotel was built in the early 1970s, and in 1989 its name was changed to the Westcourt Tavern.
Stewart Gibson is the son of a publican, David Gibson, who is son to the original publican Stewart Gibson. The younger Stewart moved to Cairns from Brisbane in 2009 to carry on the family tradition, taking on what was a somewhat neglected hotel.
One of his first moves was to restore the original name, Bungalow Hotel, and has since invested and worked closely with the community to create the pub it is today.
The Bungalow offers a sports/public bar, boasting original timber silky oak bar and TAB and Keno, a restaurant open for lunch and dinner, functions and events space, and gaming room with 45 machines earning it a Top100 ranking in the state.
Ending their lengthy stewardship, the Gibsons report they will move on to a new project – the Walloon Hotel, west of Brisbane.
NSW-based Irvin Hotel Group counts 14 venues, with 11 of these in Queensland. Previously their most northern was in Townsville, but principal Joe Irvin says he is always on the lookout for opportunities in both NSW and Queensland.
He sees a strong future for Cairns, which managed to “trade fairly well” despite COVID.
“It’s an exciting opportunity for us,” says Irvin. “The pub itself is quite a mature food & beverage operation, with strong gaming.
“There hasn’t been any significant downturn in trade through the COVID period, so as borders open up and restrictions relax we think the only way will be up.”
Sale price of the Bungalow was not disclosed, but it was reportedly sold in accordance with market expectations, rumoured to be about $20 million.
Cairns is well positioned to enjoy the benefits of the pending boom in domestic tourism, but also international guests once borders reopen.
Irvin Hotels offer no plans for the Bungalow, which Joe says is a “very solid trader” and will continue business as usual.
“The Gibsons are experienced hoteliers and ran a pretty tight ship. We’re happy to keep their good work going.”
The sale was managed by Robert Hunter of Power Jeffrey, to whom the Sydney-side Irvin is grateful, locked out of the state during the transaction.
“I can’t thank Rob enough. He was very helpful all the way through with what’s been a difficult process, trying to get this settled with COVID and everything having to be done remotely.”
