Mark McIlroy and three other business partners took over the venue on Wednesday, April 17, 2024.

It's an exciting time for Mr McIlroy, who will have help from his wife Shahne, along with stepson Charlie Kent, 13, and daughter Millie, 2, in later years - to run the business.

"The guys I'm partners with, they're a great group of guys," Mr McIlroy said.

"We work really well as a team together and we have done over a number of years."

Mr McIlroy said renovations were under way upstairs on the Highline bar and lounge.

He said it was undergoing a full revamp and would reopen with a new name in time for the May races.

Mr McIlroy said he didn't expect the revamp to be completed during race week but the bar would open to give residents and visitors a sneak peek.

"We're doing a full refit upstairs," he said.

"It will be a new and exciting night spot for Warrnambool which will officially open a couple of weeks after the May races."

Mr McIlroy said the response from the community to the change of hands had been incredible.

"We've had a very positive response from the community," he said.

"It was a long process, but it was well worth it."

Mr McIlroy said he would like to thank the previous owners Daryl and Susie Porter.

The couple took over the venue in 2014.

"We would like to thank the Porter family for giving us the opportunity to get into a wonderful venue," Mr McIlroy said.

"It's a beautiful pub and it's been immaculately maintained.

"We would like to thank them for all the hard work they have done."

Mr McIlroy said he was also thrilled to have good staff.

"We want to thank the Porters for the great team of staff," he said.

Late last year, Mr McIlroy announced he was taking over the Caledonian Inn, known as The Stump, in Port Fairy with his siblings Anne McIlroy and Jo Mackenzie.

The news comes after another popular Warrnambool hotel changed hands recently.

Matt McMahon and Josh O'Dowd recently took over Hotel Warrnambool after it was sold by a small syndicate, including Stephen Phillpot for three decades.