Mario and Bill Gravanis’ Sydney-based hospitality company Oscars Group is expanding into South Australia for the first time with the purchase of three hotels in Adelaide for about $80 million.

Fresh from their purchase of Sydney’s Luna Park at the end of last year for more than $50 million, the Gravanis brothers have now established a substantial foothold in the Adelaide market, acquiring the Lakes Resort Hotel, Bridgeway Hotel and Maid & Magpie Hotel.