"Iconic waterfront landmark": Sydney Luna Park gets new owners for undisclosed fee

Sydney’s iconic Luna Park has been bought by pubs and hotels operator Oscars Group. With no disclosed sale price, the park was put on the market by Canadian investor Brookfield in June and ensures the tourism attraction is once again Australian-owned.

Oscars Group is one of New South Wales’ largest privately owned hospitality groups, owning hotels, yachts, and pubs along the east coast. While most of the group’s investment has focused on Sydney’s city, western suburbs, inner west, and the Central Coast, the purchase of Luna Park has been made with an intention to establish the location as a top five tourist destination for visitors.

“It is an iconic waterfront landmark on the best harbour in the world that presents a great opportunity for the Oscars business,” said Oscars Group managing director Bill Gravanis.

Luna Park CEO John Hughes told 9 News the park has “exceptional momentum” with record ticket sales and visits, predicting the upcoming summer period to be the park’s “biggest on record.”

The North Shore Lorikeet has contacted Oscars Group for further comment.