Sydney hoteliers Jason and Peta Marlow have expanded their portfolio of 13 pubs to include the Robin Hood Hotel, agreeing to pay $19 million for the venue.
Mr Marlow said he had travelled from Sydney to visit the pub half a dozen times before deciding it was the right one for their family company Marlow Hotel Group.
"It's the biggest and the best, as far as I'm concerned," he said.
Mr Marlow, who was due to address staff on Tuesday afternoon, said the company had been looking to invest in a regional hotel.
"We had criteria - [Orange] has the population, and there had to be good economic drivers so we could maintain the business for a long time to come."
The company is slated to take the reins in late April.
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The Robin Hood Hotel has a large bistro, a TAB, poker machines, indoor play centre, drive-through bottle shop and accommodation.
"The current owner has done an excellent job over the last 20 years," said Mr Marlow.
He said that after settlement, the first three months of ownership would be about "maintaining what we bought".
"Then we can consult with the community, carry out an analysis of what hospitality exists in the area, and subtly spend money on the hotel over a series of years.
"The most important thing is that we enhance the current facility, not change it."
Mr Marlow said the site, at 3.2 hectares, was the largest parcel of land in the company's portfolio.
Over time he said the company would look at developing facilities so the pub could host functions and offer more accommodation.
Other venues owned by the group include Carlton's Royal Hotel, Coniston's Coniston Hotel, Kogarah's Bank Tavern, Parramatta's Rose and Crown Hotel, Albion Park Rail's the Parks Hotel Motel and Penrith's Peachtree Hotel.
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