The star-studded on-market sale of the Hotel Hollywood has found local operator Parlour Group outbidding big names and interest from Hollywood itself to take the show for around $10 million.
Located in the heart of Sydney’s Surry Hills, the four-storey venue was built circa 1942. It still sports traditional mustard tiles at street level, a public bar and small gaming room, with a 3am liquor licence. Upper levels find a manager’s residence previously used as a trading area, and nine well-appointed accommodation rooms.
American band The Foo Fighters took residence at the pub during a tour in 2018, hosting several after-parties.
It was once home to former Hollywood starlet turned operator Doris Goddard, who bought the art-deco property in 1977 for $175k. She passed away in 2019, aged 89, and last month the Hotel was listed for sale for the first time in 42 years.
Industry sources say the new owner is the Parlour Group, fronted by Brody Petersen. The Group already counts nearby venues Riley St Garage in Woolloomooloo, and Paddington’s Village Inn. PubTIC was unable to make contact with the Petersens prior to publication.
The sale process was directed by Trustee Stephen Goddard, who praised the level of interest and buyers’ plans to maintain its “hospitality origins”.
“The level of enquiry was as diverse as it was deep. It brings great pleasure to know the successful party will keep the doors open in a fashion consistent with how Sydney has enjoyed a relationship with this wonderful hotel.”
There had been some community concern that a development project could prove the highest value use of the site, as opposed to it staying a pub.
The marketed sale process did reportedly welcome in excess of 100 enquiries, rumoured to even include industry heavyweights Justin Hemmes and Stu Laundy, but also Hollywood doyens Russell Crowe and Matt Damon.
News of the sale did not specify price nor buyer, but that the final figure was in line with guidance, suggested last month to be circa $10 million.
The transaction was brokered for the Trustee by HTL’s Andrew Jolliffe and Sam Handy, who attested to the widespread interest.
“With Hollywood, we had enquiry from the best hoteliers and restaurateurs in the land, as well as developers and some notable entertainment industry professionals,” said Handy.
