The Grollo Group's decision is a major boost for the tourist location and an reaffirmation of the company's long standing belief in resort town's future.
The Grollo Group, run by Lorenz Grollo and his brother-in-law Nick Whitby, say the town centre development property is the final piece of the jigsaw in their plan to unlock the potential of the current village square and turn the town into a year round tourist resort.
'Our family's decision to invest in the on-going expansion of Mount Buller and purchase of the Kooroora property is further proof of our commitment to developing Mount Buller into a truly world class resort," said Lorenz Grollo chief executive of the Grollo Group.
The centrally located property includes the Kooroora hotel, one of the oldest commercial establishments in the traditional tourist town. The Grollo Group plans to redevelop the Kooroora property into a mixed use development..
Mount Buller has the largest lifting capacity of any Victorian ski area, with a network of 25 lifts capable of moving 40,000 people per hour around the resort's 80kms of groomed trails.