Luna Park, the beloved amusement park that has been a staple of Sydney's entertainment landscape for nearly a century, has significantly changed ownership. After an intense international sales campaign, the park was put on the market with a hefty price tag of $70 million. The outcome? A local heavyweight in the hospitality industry, Oscars Group, emerged victorious, acquiring the iconic attraction for an undisclosed sum.

The sale marks a new chapter for Luna Park, a cherished destination for tourists and locals alike. Oscars Group, a major player with a portfolio that includes hotels, resorts, pubs, and events centres along Australia's eastern seaboard, is no stranger to the hospitality scene. With this acquisition, they're set to bring their expertise to one of Sydney's most iconic waterfront landmarks.


Bill Gravanis, the managing director of Oscars Group, expressed his excitement about the purchase, recognising the park's unique position on the shores of what he calls 'the best harbour in the world.' The group's ambitious vision is to propel Luna Park into the 'top five' tourist destinations for visitors and cultivate it as a premier entertainment precinct for Sydneysiders.


The sale, orchestrated by Simon Rooney of CBRE, attracted significant attention from international investors. Luna Park's prime location and the potential for revenue growth through additional amusement, immersive experiences, and food and beverage initiatives made it a hot commodity in the global market. Investors were keen to tap into the park's existing assets and customer base, seeing it as a valuable opportunity to add to their portfolios.


As Luna Park approaches its 90th anniversary, it's riding a wave of 'exceptional momentum,' according to CEO John Hughes. With record ticket sales and visits, the park is gearing up for its biggest summer yet. Exciting developments are on the horizon, including a partnership with Netflix, the world premiere of the Vegesaurs experience, a highly anticipated New Year's Eve festival, and the relaunch of the heritage-listed Wild Mouse roller coaster after a two-year restoration.

Luna Park Sydney has 17 amusement rides, including the heritage-listed Coney Island, Sydney's Immersive Big Top, and the 1935-built Crystal Palace. It also boasts a 389-space car park, making it an accessible destination for families and thrill-seekers.

The acquisition by Oscars Group is more than just a business transaction; it's a commitment to preserving and enhancing a piece of Sydney's history. Visitors can expect to see a blend of nostalgia and innovation as the park enters this new era, ensuring that Luna Park remains a treasured part of Sydney's cultural fabric for years to come.


For our readers over 60, who may have fond memories of Luna Park from their youth, this change of ownership might bring a mix of emotions. It's a reminder of the ever-evolving nature of the places we hold dear. Yet, there's also a sense of anticipation for the future. Will the Oscars Group maintain the charm and history of Luna Park while injecting new life into its attractions? Only time will tell.
We'd love to hear your thoughts and memories of Luna Park. Have you visited recently, or do you plan to check out the new attractions? Share your stories with us in the comments below, and let's reminisce about the magic of this Sydney icon together.