Sale of iconic Prince of Wales hotel angers locals
The sale of Melbourne’s iconic Prince of Wales hotel has caused anger among St.Kilda locals, who have called it a “disgrace”.
The venue has been purchased by Hospitality giant Australian Venue Co (AVC), which owns more than 200 pubs nationwide and in New Zealand, including six others in St.Kilda.
Village Belle, Newmarket Hotel, The Espy and West Beach Pavilion are all under Australian Venue Co’s ownership.
While the venues are popular, locals in a private community Facebook group, Residents in St Kilda (RISK), have expressed their anger.
“They killed The Espy and now they will kill The Prince,” one wrote.
“(The Espy has) gone to the dogs. The times we had there back in the day, with a brilliant live music venue, vibe and fabulous crowd... all gone.”
“RIP family-owned pubs,” said another.
International ownership also came under fire.
“It’s obvious people don’t care who owns our treasures. (The) Palais is owned by Live Nation/Ticketmaster (American).
The Espy, and now the Prince owned by a huge American entity.
“No profits stay in Australia. It’s really quite sad.”
Others worried AVC, which was sold to Hong Kong-based PAG in a billion-dollar deal last year, was killing Melbourne’s live music scene.
“There’s no band lists anymore, just drinks specials,” one wrote.
“This is terrible news... AusVenue Co are snapping up all live music venues and turning them into pubs.”
AVC says it will honour the pub’s rich history.
“We have enormous respect for what the Ryan family and team have created with The Prince,” AVC chief executive Paul Waterson told the Herald Sun.
“The pub holds a special place in the heart of many Melburnians and has been a mainstay within the St Kilda hospitality scene for decades. We look forward to honouring this rich heritage as we continue to deliver a memorable experience for loyal locals and new customers to The Prince.”
Jonathan Jackson, 3rd July 2024
