Oscars Hotels chain has denied reports co-owner Bill Gravanis had made an offer to buy the Novotel Northbeach.
It was reported in a Sydney newspaper yesterday that Mr Gravanis had offered current owners Canadian group Brookfield $48 million to buy the 204-room beachside hotel at North Wollongong.
But an Oscars Hotels spokesman said the report was "news to us".
Oscars had been looking at hotels but there was "no movement" at the moment, the spokesman said.
Novotel Northbeach general manager Walter Imoos said he was also not aware of the hotel possibly changing hands.