Iconic Sydney gay venue the Imperial Hotel has been bought by the Universal Hotels group, ending speculation about the fate of the venue.
The popular Erskineville venue had been up for sale by Sydney Collective’s Fraser Short and Australian Hotels Association NSW president Scott Leach.
The pair rescued the venue after it closed in 2015, spending $6.5 million buying the building and $6 million renovating it and turning the upper floor of the pub into additional bar and dining space.
They have reportedly now sold it for $20 million dollars.
Short and Leach confirmed the venue was on the market last week, with Short saying he had been reducing his interests in night life venues in order to spend more time with family.
“Running this business is a seven days a week job. I’m almost 50. My late dad, Warwick, a successful publican, was only 60 when he died,” he told the Sydney Morning Herald.
A great opportunity for Universal
Universal Hotels CEO Harris Kospetas said in a statement that, “the opportunity to transact on the Imperial was one in which we believed had great synergy with our [existing] group of venues.”
“We have a strong connection with the LGBTQIA+ community and are very excited about the next chapter for the venue.”
“The acquisition fits our strategy of aquiring outstanding assets where our operational and geographical synergies can unlock value. I would like to thank Fraser and Scott for their outstanding rebuild and subsequent stewardship of the venue.”
A jewel in Sydney’s rainbow crown
The Imperial was one of the first LGBTQIA+ venues to be established outside of Darlinghurst or Kings Cross when it was purchased by pioneering Sydney lesbian businesswoman Dawn O’Donnell in 1983. O’Donnell was also responsible for turning the Newtown Hotel into a gay venue.
The Imperial Hotel went on to feature in the opening scenes of the 1994 movie, The Adventures of Priscilla, Queen of the Desert.
Universal Hotels own the Newtown Hotel, Civil Hotel, Crown Hotel, The Riley, the Oxford Hotel and the Universal nightclub.
