Listed pub landlord Hotel Property Investments has moved closer to owning a $1 billion portfolio of assets after teaming up with operator Australian Venue Co to acquire the Surfair Beach Hotel south of Noosa.

The $20 million deal to buy the Sunshine Coast venue adjoining Wyndham’s Ramada Hotel at Marcoola Beach was the sixth acquisition by HPI since February last year, when it ended five years’ of abstinence to buy two hotels in Sydney and Brisbane for a combined $60 million.