The Statesman Hotel, a politics-themed venue just 10 minutes from Parliament House, has been sold to an interstate investor.
With rooms named after the upper and lower houses, the hotel's theme pays tribute to both Canberra and its own scandalous history: in 1980, former political reporter Laurie Oakes was given the budget papers in the car park days before then-treasurer John Howard was able to give his speech.
The hotel was bought by asset investment and hospitality operating company Fifty Group after about a year of discussions with the previous owners.
A spokesperson for Fifty Group said the company was attracted to the hotel for a number of reasons, including the strong local history and potential for further investment.
"We recognise that the Statesman holds a special place in Canberra's hospitality and political history," the spokesperson said.
"We see ourselves as taking on the stewardship of a well-established Canberra hospitality venue, with a responsibility to respect and preserve its history while giving the property a new chapter for the future."
It is the second ACT hotel acquisition for the group, which recently purchased the Garden City Hotel in Narrabundah.
The Statesman was previously owned by the O'Donnell family, headed by prominent Canberra hotelier Gary O'Donnell, who died in 2018.
A number of Mr O'Donnell's hotels were sold in the years after his death, including the Kambah Inn, which sold for $2.3 million in March 2023, according to Cotality records.
His house on Mugga Lane was also sold for $5.85 million, setting a suburb record for Red Hill in 2019.
The Statesman Hotel, however, continued to be operated by the O'Donnell family.
It underwent a facelift in 2023, when its new look paying homage to the hotel's political history, including murals of a number of famous political figures, along with a new menu, was revealed.
In 2016, Mr O'Donnell had proposed building a 12-storey residential building on the site of the hotel.
However, the plans were abandoned after the Curtin Masterplan was released, restricting development to six storeys.
The restrictions made the plan "unviable", a spokesperson told The Canberra Times at the time.
The new owners were aware of the planning context of the site, the spokesperson for Fifty Group said, and would continue to consider how the space would best serve the community.
However, any redevelopment would be a long-term consideration, the spokesperson said, and the company was already in the process of planning improvements to the existing facilities.
"Our immediate focus is very much on the Statesman continuing as a hotel and hospitality venue and on improving what it offers to hotel guests and the local community," the spokesperson said.
"We want the Statesman to be a better place to stay, meet, dine, connect and be entertained.
"For now, our priority is investing in the existing hotel, respecting its heritage and strengthening its role within the local community."
