The expanding Zenith Hotels of Andrew Lazarus has reimagined the iconic Exchange Hotel in Hamilton in a five-million-dollar reconstruction, opening tomorrow.
A transformation began on the Exchange back in January. When the pandemic hit it was briefly put on pause, but reactivated once a decision was made to use the time.
This planning subsequently allowed a degree of renegotiation on works and purchases, getting a first-class job completed for several million less than it might have normally cost in Sydney.
Speaking with PubTIC, Lazarus says he adopted a philosophy of reinvesting 100 per cent of cashflow back into the businesses, looking to maximise their potential. Local experience has shaped the offering at the Exchange, which the group says was purpose-built to fill a gap in the market.
“Over the last few years being in Newcastle I’ve gotten to really learn the landscape. It’s a very different market.”
Despite the rampant popularity of live music in Newcastle, with bands and acts playing at most pubs each week, there are surprisingly few venues purpose-built for live entertainment.
The Exchange, located on a corner just off Hamilton main drag Tudor Street, was established in 1880. The redesign strove to maintain the charm of the building, while aiming to create one of the best large-capacity dedicated music venues around.
The entertainment space, dubbed Live at the X, includes a state-of-the-art sound system previously in the Sydney Opera House, and multi-level views of the stage, including a VIP mezzanine. Live music will feature several nights a week, playing everything from local groups and artists to national and – when permitted again – international touring artists.
Behind the stage is a massive TV screen that will serve as the perfect light show backdrop for bands, as well as screening the big sporting events, UFC nights and special meets such as the Melbourne Cup – complementing the brand-new TAB and Sports Bar.
Bringing a taste of the city to Novocastrians, from ‘The Kitchen’ bistro will come “classic dishes, done well”, starring a woodfired pizza oven and fresh housemade pasta, with authenticity guaranteed by dedicated pizza chef Franco Malgioglio, bringing 24 years of experience perfecting his original dough recipe.
From Swill Bar, upstairs, will be cocktails that are not super-premium but a twist on the classics so as not to appear mainstream, custom designed by award-winning mixologist and Zenith Hotels’ group beverage manager Brent Tozer. The cocktail bar vibe is curated through adventurous interiors, low lighting, and DJs until 3am.
Zenith Hotels is a new hospitality group launched this year by well-known hotelier Andrew Lazarus, who has largely relocated to the Newcastle area since falling in love with life at Shoal Bay.
Following his partnerships in Sydney, Lazarus first bought the Exchange then Shoal Bay on his own. Just prior to COVID-19 he settled on The Beach Hotel at Merewether and the Lone Pine Tavern.
He has now assembled what he describes as a “fantastic team” to lift Zenith’s offerings and profile, investing heavily in head office infrastructure. His two sons are both in the business, each hotel has a director, and they have sought top-notch general managers and head chefs, with a group executive chef and drinks manager, and former Merivale interior designer.
With the team ready to shine, Lazarus says he has been very selective in the assets acquired to date, maintaining that great assets in good locations is “half the battle”.
He sees The Exchange as a test for the new outfit, while noting the opportunities emerging from the pandemic environment.
“Dining out at the pub culture has become front and centre, and good ones are doing well.
“I’m confident we’ve got all the things we need and think we’ve covered our bases in terms of what we can offer to the public.”
The all-new The Exchange will reopen its doors Saturday, 26 September.
