Vanessa Cavasinni, editor Australian Hotelier
The community of Buchan has just raised $600,000 to rebuild the Buchan Caves Hotel that was destroyed by fire in 2014. The money was raised through crowd-funding website, Pozible.
In April 2014, the Buchan Caves Hotel was completely demolished by fire. Located in the Gippsland region of Victoria, the small town with a population of 400 was devastated by the loss of their main communal gathering place. The 125-year-old pub had been ingrained in the local culture. It had been the main hub for social gatherings, town events and local news.
After the directors at the time of the fire decided not to reinvest in the pub, it looked as though the closest alternative for the community was a 35-minute drive away – not an ideal replacement.
The land that the Buchan Caves Hotel had been situated on was owned by former shareholders, and they began getting offers for the land for use for other establishments. However, it was their dream and that of the local community to rebuild the pub.
Without the resources to rebuild, a community meeting was called, and the idea to try crowd-funding was suggested and agreed to. With the target set at $600,000, they engaged the greater community and Australians in general through Pozible and social media.
The pressure was on, as if they did not meet the target of $600,000 by 13 August, they would receive none of the donations.
But with the help of 1694 supporters, the Pozible campaign ended yesterday with $605,146 raised.
The shareholders now plan to seek approximately another $300,000 which should see the project be able to reach completion. Once the Buchan Caves Hotel is again up and running, the annual profit from the pub will then be distributed back to the community of Buchan and will support local initiatives and organisations such as the Bush Nursing Centre, the Buchan Football Club and the Buchan Primary School.
There’s no doubt that the community of Buchan will be ecstatic to know that in the future they will again be able to frequent their beloved local, the Buchan Caves Hotel.