Universal Hotels Purchases Iconic Sydney Gay Venue Imperial Hotel For $20 Million
Image: The Imperial Hotel. Image: Facebook
One of Inner-West Sydney’s most iconic gay venues, the Imperial Hotel, which featured in the Australian movie The Adventures of Priscilla, Queen of the Desert, has been purchased by Universal Hotels group for a reported $ 20 million.
Held by the Collective Group since purchasing the venue for $6 million in 2015, the venue has now been sold to Universal Hotels after a month of being on the market. Universal Hotels own multiple gay bars and clubs across Sydney including the Oxford Hotel and Universal Club.
Whilst the price for the venue has been disclosed, it is estimated the sale of the venue has been sold for around $ 20 million, reported Nine Newspapers.
Storing Connection To LGBTQI Communities
Universal Hotels CEO Harris Kospetas spoke with Nine Newspapers about the “great synergy” between Imperial and the group’s portfolio of locations.
“We have a strong connection with the LGBTQIA+ community and are very excited about the next chapter for the venue,” said Kospetas.
“The acquisition fits our strategy of acquiring 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.”
JLL Hotels & Hospitality Group’s managed the sale between previous owners Fraser Short and Scott Leach to Universal Hotels, with vice president Kate MacDonald explaining the purchase was a “natural addition” to the group’s purchase.
“The Kosperas family and their incredibly capable team will provide the Erskineville community with the same good vibes as they have done all over Sydney for more than two decades,” said MacDonald.
Priscilla, Queen of the Desert
Built in 1880, the Imperial Hotel has become an attraction for LGBTQI communities over the past decade with the location featured in the 1994 film, The Adventures of Priscilla, Queen of the Desert. The Collective Group reopened the venue in 2018 after $6 million in renovations and continued to attract many visitors with its notable Drag and Dine shows and club events.
Following the announcement of the venue being put up for sale by The Collective group last month, speculation around Universal Hotel’s purchase of the hotel was initially squashed after Kospetas.
Whilst it is unknown how much will change following the recent purchase, the venue is expected to continue being a haven for LGBTQI communities and entertain audiences under this new experienced ownership.
The Imperial has become an “attraction” over the last decade?
Sweety, Darling, The Imperial was an attraction when I came out in 1992.
The release of Pricilla in 1994 made the drag bar crowded with hens parties and heterosexuals. The drag queens would rip into them, get them onstage insult and embarrass them. It was hilarious.
So there’s over three decades of history and more before that