Chris Morris invests $7m into Portsea Hotel revamp

Portsea Hotel on the Mornington Peninsula has had a $7 million revamp by billionaire operator Chris Morris.

The hotel was added to Colonial Leisure Group's tourism portfolio after it was purchased by Morris for $9.3 million almost two decades ago. He then sold the 142-year-old freehold building in 2016 to pub baron Mazen Tabat for $17.1 million, while continuing to operate the business.

"Selling the Portsea Hotel as a freehold provided the opportunity to reinvest back into Colonial Leisure Group, allowing us to expand our portfolio," Morris told The Australian Financial Review.

The hotel will open its doors again to the public on December 10, after its closure in May. The $7 million refurbishment includes a large open-style kitchen, a new burger bar overlooking the water and a whiskey-inspired cocktail bar.

"Portsea Hotel has been a great place to go in the warmer months and although it is seen as a Portsea icon, the charm had left the building some time ago," Morris said. 

Sheridan Randall, 3^rd December 2018