The giant, privately-owned Sydney hospitality group Merivale run by Justin Hemmes is on another buying spree, confirming its purchase of the Royal Hotel Bondi in another multi-million dollar deal.

Merivale will not take control of the business until June 2018. The latest acquisition follows the announcement last month that the business grabbed a second hotel in the city’s Inner West, buying Marrickville’s Vic on the Park from the Australian Pub Fund, owned by former Qantas boss Geoff Dixon and adman John Singleton for a rumoured $20 million.

The billion-dollar business, best known for the Ivy and Establishment in the CBD, now has more than 60 venues, having bought a third northern beaches venue, the Collaroy Hotel, in August for $21 million. That pub is being refurbished over summer and will reopen next year along with the second stage of The Newport.

A Merivale spokesperson said plans for Bondi’s Royal Hotel will be announced in due course.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.