The stylishly revamped Saint Hotel has the potential to be St Kilda’s saving grace, with five venues to open over two soaring levels punctuated by an atrium.

A year of work and a budget of between $3 million and $4 million has ripped a nightclub and South-East Asian restaurant out of the hotel and replaced them with a steakhouse powered by a Josper grill and an upscale front bar plus two upstairs bars to open soon, as well as a street-level bottle shop coming later with 12 bar stools.

The megavenue, licensed for 430 people, joins other recent St Kilda arrivals Rufio on Carlisle Street and Loti on the foreshore, and the reopening of Cafe Di Stasio, somewhat stemming the area’s hospitality losses, including Andrew McConnell’s Supernormal Canteen. Could this be St Kilda’s year?

Saint Hotel general manager Mrinal Beekarry and executive chef Gary Lai, both formerly of The Atlantic, say the pub’s 1915 heritage was a major drawcard for them to join the project, led by James D. Field and his father James M. Field, both in the construction business.

“[The renovation] went from something very basic to what it’s become. We felt there was a lot of potential in this building,” says Beekarry.

Lai’s menu in Saint Dining features five cuts of steak from producers including O’Connor and Mayura Station, as well as crayfish, skewers and vegetables cooked over coals. The Josper is even used to smoke manchego cheese and dessert ingredients.

Saint Bar greets guests with a large stone-topped bar in black and gold tones, flanked by modular booths to slide into for prawn sandos, grilled oysters with guanciale vinaigrette or Moreton Bay bug pasta.

Saint Dining and Saint Bar on the ground floor opened on March 24, with Bar 54 opening this week and Stellas, a listening room and cocktail bar, to follow in April.

Located upstairs, Bar 54 hugs the atrium with a suite of generous chartreuse banquettes upholstered in leather and velvet, and sun-soaked terraces for more casual drinks and snacks.

At Stellas, bar manager Roy Das Neves will be creating hyper-sustainable drinks, similar to his work at Bouvardia in the CBD. But the centrepiece will be a pair of enormous custom-designed Pitt & Giblin speakers, also responsible for the sound at Brunswick’s Waxflower Bar. Like that venue, Stellas is inspired by Japan’s listening bars.

Bottleshop The Vault is still several months away from opening due to licensing .

Saint Bar is open daily noon-late; Saint Dining is open daily noon-3pm, 6pm-11pm; Bar 54 open Thu-Sun 6pm-late from March 30.

54 Fitzroy Street, St Kilda, sainthotel.com.au