Adelaide’s The Rosey, formerly Rosemont Hotel, on Hindley St starts trading Friday

One of Hindley Street’s landmark institutions will re-open its doors this weekend with a new name after a major overhaul.

The Rosey owner Greg Maitland enjoys a beer at the new updated bar. Picture: Keryn Stevens.

• GM Hotels Group to sell six Adelaide pubs
• New name, new ownership for landmark Rosemont Hotel
• Landmark Adelaide pub closes

An Adelaide CBD institution will reopen its doors to sportsbar fans on Friday following a $1.5 million facelift, which includes a new kitchen, gaming area and updated bar.

The Rosey, previously called The Rosemont Hotel, on the corner of Hindley Street and Morphett Street, starts trading from 5pm on Friday with a number of specials as part of its opening night attractions.

Besides the new name and investment, Rosey now also sports new signage, screens and will trade seven days, 11am to 5am.

Owner Greg Maitland, managing director of the GM Hotels Group, said the focus would be on increasing bar trade while maintaining the attraction for gamers and sports enthusiasts that have supported the establishment over the years.

“We have a busy weekend ahead with both the Crows and Port games on Saturday.

“We have reached out to our database through social media to make the most of the Port game being televised at Rosey and are hoping Crows fans will come in for pre and post-game entertainment.”

The venue, which will also have live bands, has created up to 40 new jobs, including permanent positions.

The Rosemont Hotel closed in February, marking the end of the 20-year lease by the Rose family.

In March, Mr Maitland bought the leasehold on the pub for the next 35 years — and has plans to invest another $2 million over the next 12 months, adding a beer garden, outdoor seating and a mezzanine-level extension, subject to development approvals.

After being “stuck in a time warp”, the changes will broaden The Rosey’s appeal, Mr Maitland said.

A file picture of the Rosemont Hotel on Hindley Street just after it closed earlier this year. Picture Dean Martin.

Separately, the GM Hotels Group is in the midst of offloading a significant share of SA’s hospitality and gaming revenues through the sale of six pubs.

The portfolio, expected to sell for more than $70 million, includes two freehold hotels Christies Beach and The Brahma, and four leasehold hotels — the Tower Inn, Crown Inn, Emu Hotel and Beach Hotel.

The pubs are held in a joint venture fund with Blue Sky Alternative Investments, which was placed in administration on Monday, following a disastrous year.

JLL Hotels & Hospitality Group is managing the sale process and expressions of interest closed on May 2.

Mr Maitland told The Advertiser Blue Sky was a “trustee” and held no equity in the pubs with no loans to or from the GM Group.

“The sale process is not impacted by what is happening with Blue Sky. We are negotiating the sale with short-listed parties.”

A separate sale process is also underway for the group’s St Francis Winery Resort at Reynella — a 41-suite accommodation with 32 gaming machines.

Blue Sky and Mr Maitland paid $66 million for 10 Adelaide pubs from independent Pub Group in 2015.

The GM Group also owns The Rosey, The Whitehorse Inn at Bolivar, The Paradise Hotel and the Valley Inn at Hope Valley, which are not part of the sale.