The Tumut Star Hotel is the latest Riverina hotel up for sale

The Tumut Star Hotel has gone up for sale again after changing hands less than two years ago.

JLL Hotels & Hospitality Group vice president Greg Jeloudev is marketing the property and said the Tumut Star is a versatile investment, which would make a good "entry level" for someone trying to break into the pub game.

"It is a really good platform for either a husband and wife team, could be a platform for an established publican looking to put a daughter or son into their first hotel ... it's got rooms, good real estate fundamentals, a good block of land," he said.

Publican Robert McGhee, who previously owned Adam's Tavern in Blacktown, western Sydney, has "pumped substantial capital improvement" into the Star, Mr Jeloudev said.

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The hotel is being sold via Expressions of Interest, and while Mr Jeloudev wouldn't be drawn on the price Mr McGhee will be looking for, he "wouldn't be surprised" if it went for a price in the millions.

Regional pub sales have been big business in recent years, with the Doodle Cooma arms in Henty selling in late 2022, as well as The Victoria Hotel, for a massive $29 million, Lake Albert's Thomas Blamey Tavern for $25 million, Gundagai's Criterion Hotel for $6 million and The Red Steer for an undisclosed amount.

The Duke of Kent, Romano's, Sporties, Lockhart's Commercial Hotel and Jugiong's The Sir George were each sold in 2021.

Mr Jeloudev has sold a few other Riverina hotels in recent years, including the Howlong Hotel, the Globe Hotel in Deniliquin, and further afield with the Alpine inn at Khancoban.

All sold in the millions.

The Riverina and other regional locations can offer a better return for investors, Mr Jeloudev said.

"Why people are buying in that particular area, when you compare hotels in that part of the world to say Sydney, your yields and your returns are generally greater," he said.

"But also agriculture has been successful over the last couple of years, so commodity prices are high, so discretionary spending is better in those areas."

But ultimately Australia's love of pub culture is what's driving the current market.

"The appetite for pubs is really underpinned by Aussie culture, it's where people meet socially ... whilst that is still going on in our society pubs will still be highly, highly sought," he said.

The Tumut Star is being sold via Expressions of Interest, closing Tuesday May 2.

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