COFFS Harbour's Pacific Bay Resort has been sold following an announcement by the AccorHotels Group that the Novotel hotel will close in January.
The beachfront property has been purchased by interests of Peter Montgomery, who has had a long association with the resort.
"We hope that we will be able to bring all of the parties together in order to reopen the resort as soon as possible after the proposed closing date," Mr Montgomery said.
"We are well aware of the importance of the accommodation pool of rooms to the local tourism industry.
"We will attempt to use some of the expertise of our team at Bonville Golf Resort, led by its manager Brad Daymond.
"We will also be attempting to preserve as many jobs as possible, but much needs to be done before the proposed closing date."
The Novotel Hotel will close on January 20, the AccorHotels Group has advised The Advocate.