The Imperial Hotel in Erskineville, popularly remembered for its appearance in the film “The Adventures of Priscilla, Queen of the Desert,” has been sold following an extensive $6-million renovation.
Built in 1880, the Imperial Hotel has been a beloved local and tourist hotspot for generations. In 2015, JLL Hotels & Hospitality Group announced the takeover of the historic Erskineville establishment on behalf of Fraser Short, from Sydney Collective, and Scott Leach, President of the Australian Hotels Association NSW. Mr Short and Mr Leach stepped in to rescue the venue from closure in 2015.
Following a substantial renovation and extensive community consultation, the hotel reopened its doors in March 2018, just in time for Sydney’s vibrant Mardi Gras festival. In early 2023, the Imperial Hotel went on the market and was then sold to Universal Hotels, owned and operated by the Kospetas family, prominent figures in the Sydney hotel scene.
As its new owner, Universal Hotels boasts a diverse portfolio of LGBTQIA+ venues, including the Newtown Hotel, Civic Hotel, Crown Hotel in Surry Hills, as well as The Riley, Oxford Hotel, and Universal, all located along Sydney’s renowned Oxford Street.
Harris Kospetas, CEO of Universal Hotels, expressed enthusiasm about the acquisition, citing the strong connection his group has with the LGBTQIA+ community.
Mr Kospetas emphasized that the Imperial Hotel aligns with its strategy of acquiring exceptional assets that can unlock value through operational and geographical synergies. He extended his gratitude to Mr Short and Mr Leach for their exceptional rebuild and stewardship of the venue.
Kate MacDonald, Senior Vice President at JLL, who exclusively negotiated the sale, expressed confidence in the hotel’s future operation. MacDonald stated that the Imperial Hotel’s addition to the Universal Hotels portfolio aligns with their focus on venues with robust and diverse income streams, many of which rely on entertainment as a primary business driver. She praised the Kospetas family and their capable team, expecting them to provide the Erskineville community with the same positive atmosphere they have cultivated throughout Sydney for over two decades.
The Imperial Hotel’s legacy as a cultural landmark, intertwined with its starring role in “The Adventures of Priscilla, Queen of the Desert,” continues to captivate both locals and visitors as it embarks on a new chapter under Universal Hotels’ ownership.
Published 16-June-2023