Moelis Australia has officially completed its acquisition of the Beach Hotel, Byron Bay, which will reunite the common ownership of the real estate and operating business for the first time in thirteen years.
Acquisition of both the real estate freehold and the operating business will enable Moelis Australia to make continued investments into the future of one of Australia’s most iconic venues.
Moelis Australia Hotel Management, a subsidiary of Moelis Australia Limited (ASX: MOE), (MAHM), is a leading hospitality operator and investment manager, currently managing the ASX 300 listed Redcape Hotel Group comprising 32 community-focused venues along the east coast of Australia.
Moelis Australia Hotel Management CEO Dan Brady confirmed that MAHM is committed to honouring the Beach Hotel’s legacy and celebrating its rich past, whilst still having a robust and strategic vision for its future.
“The Beach Hotel, Byron Bay is a much-loved local institution and we are privileged to be its new custodians. We have a clear and exciting vision for the hotel - one that places the local community firmly at its core - and are committed to ensuring that the Beach Hotel continues to enrich the lives of those around it for many years to come.”
The Beach Hotel is one of Australia’s most celebrated and iconic venues, overlooking the sparkling waters of Byron Bay’s Main Beach. The hotel has had a rich and colourful past under the management of several owners, including filmmaker and long-time manager of Paul Hogan, John Cornell, who acquired it in 1990. People from all corners of the globe have congregated on its sweeping lawns for more than thirty years, and it has proudly made its mark as a commune for live music where many young artists have cut their teeth.
Following acquisition, Management will invest considerable time getting to know the team, community and guests, as well as investing funds to implement operational improvements and crucial maintenance and repair work that is required to the base building.
“The base building has not received the required level of investment over the years due to the split ownership structure. We are well capitalised to give the property this required future investment to enhance the offer and elevate the experience for customers ensuring this iconic venue once again leads in this great community and on an international level,” said Dan Brady.
Longer term plans will see the venue undergo a significant revitalisation program, which will include a new design roll out and enhanced operational features.
“We are excited to embark on an exciting new chapter for the Beach Hotel that will restore the venues integral role in the community and significantly enhance the overall customer experience. This involves leveraging our years of experience in the industry to deliver higher levels of customer experience and team development, as well as exceptional design and operational features that befit its spectacular location and are deserving of the world stage.
“Our utmost priority at this stage, however, is in getting to know the passionate Beach Hotel team, our loyal locals and the many community partners who are proud to call the Beach Hotel their own. We have a great responsibility to do the venue justice, and want to give it the time, energy and respect it so rightly deserves.”
Further details on the refurbishment for the Beach Hotel, Byron Bay will be announced in due course. In the meantime, the venue will continue to trade as normal under the new management, maintaining its diverse live music schedule, with operational improvements and urgent maintenance implemented as soon as possible.
Beach Hotel, Byron Bay
1 Bay Street, Byron Bay