Pub king Arthur Laundy turns to revamping his big-ticket properties as prices spiral

Arthur Laundy with daughter Danielle and her husband, Shane Richardson, at the Watsons Bay Hotel. Picture: Jane Dempster

Pubs baron Arthur Laundy says a plethora of syndicates buying up pubs is responsible for the historically high prices being paid in NSW.

The billionaire, who controls more than 90 pubs and hotels on the eastern seaboard, says there aren’t any bargains to be had – and is concentrating on renovating parts of his existing portfolio.

“I have not seen a bargain in a hotel for some time,” Mr Laundy said.

Together with its partner the Karedis family, Laundy Hotels has just spent $125m renovating the 176-room, five-star Sofitel Noosa Pacific, upgrading its bars, dining areas and rooms.

“It looks spectacular,” Mr Laundy said, adding that it had been a big job and would be completed within the next three to four weeks.

Mr Laundy estimated that the next renovation, of the Sheraton Mirage on the Gold Coast hotel, would cost much more.

“It will be at least $100m, possibly more,” said Mr Laundy of the renovation work which will not commence until 2027.

“We will go through the council all next year, it will be well over $100m and we will work on it all next year.”

The Laundy and Karedis families purchased the landmark Sheraton Mirage, which is known for its attractive beach location, two years ago paying about $192m.

In Sydney the Laundy family has spent $3m upgrading its harbour-front Watsons Bay Hotel – describing the renovation as one of the most significant transformations in the Sydney Harbour hotel’s near 200-year history.

The renovation of the hotel’s top and mid decks represents a significant investment in Sydney’s hospitality landscape.

The Watsons Bay Hotel renovation has cost $3m.

Mr Laundy’s daughter, Danielle Richardson said: “We’ve reimagined these spaces to effortlessly transition from casual social gatherings to corporate functions and dream weddings.”

The upgrade, by Laundy Hotels’ Danielle and Shane Richardson and Etic Design, has redefined how the decks are used, creating versatile, contemporary spaces to showcase the hotel’s expansive harbour views and elevate every event.

The Top Deck seats 102 or 150 standing, while the Mid Deck accommodates up to 60 seated.

“This isn’t merely a renovation – it’s a complete reimagining,” Ms Richardson said, unveiling the redevelopment.

Watsons Bay Hotel’s grand reopening of its Top Deck and Mid Deck following a $3m transformation.

The Laundy family fully acquired the Watsons Bay Hotel two years ago following the purchase of the remaining half share from Fraser Short.

Ahead of the soft launch on Wednesday night, Mr Laundy said the Watsons Bay Hotel had been modernised, and bookings were already being taken for the new deck.

Asked how he saw the pub market currently performing, Mr Laundy said “it still seems very active to me”.

“Some of the prices still surprise me. We get a lot of these collective groups they have bought into the trade and I am sure they are keeping the prices high.”