By Annette Shailer
Sydney hotel group Merivale has reportedly added the Excelsior Hotel to its impressive portfolio of venues, suggesting a keen interest in the Surry Hills area.
An article published in the Sydney Morning Herald today (Feb 21) estimates that the group paid about $4.5 million for the hotel.
This is the second venture into the suburb by Justin Hemmes’ family-run company, which bought The Beresford Hotel for $14.6m 10 months ago.
A spokesperson for Merivale declined to comment on the acquisition but Hemmes told TheShout late last year that he had been impressed with the growth and innovation taking place in the Surry Hills pub sector.
The Beresford Hotel is currently undergoing a major renovation of its upper level.