Melbourne's Royal Saxon Hotel sold to interstate group
The Royal Saxon Hotel in Richmond has been sold by owner Paul Olynyk.
“Whilst it wasn’t my intention to sell, it was certainly a process made easier due to the passion shared by the purchasers towards the Royal Saxon,” said Olynyk. “It’s always comforting to know that a venue you worked so hard towards establishing will be kept in good hands.”
The buyer is believed to be an interstate hotel group, making their first foray into Melbourne. BRE Hotels’ Scott Callow and Will Connolly negotiated the sale.
“Many of Melbourne’s high-profile food and beverage hotels have become targeted acquisitions by parties such as the Australian Venue Company over the last few years,” said Callow. “The Royal Saxon has resisted numerous approaches by purchasers over time, but the recent approach from an alternative, interstate hotel group saw a synergy between buyer and seller.”
Sheridan Randall, 7th December 2018
