What does it take to scale a pub group through a pandemic – and come out stronger? For Tom Francis, it meant backing bold decisions, embracing uncertainty, and going from 70 to over 300 staff in just 12 months. As Managing Director of Francis Venues, he’s led one of Victoria’s fastest-growing hotel portfolios by combining sharp commercial instincts with a deep respect for the communities his venues serve. In this candid interview, Tom shares how he balances local soul with large-scale growth, what he looks for in every acquisition – and the leadership lessons that came from betting big when the future was anything but certain.
FuturePlace: Can you tell us a bit about your background and how your journey led you to lead Francis Venues?
While studying film and television, I pursued work in hospitality and liquor retail. I started in front-of-house and liquor retail roles at a metro Melbourne gastro hotel, quickly developing a passion for the industry. Enjoying the work, I decided to leave my studies behind and commit to full-time employment at the hotel. Eventually, I transitioned into supermarket management when a management position opened at a nearby SUPA IGA.
Despite shifting away from hotels professionally, my love for the industry remained strong, and I continued working casually at my family’s managed club in Newport. At 23, I made the leap from supermarket management to the club industry, taking on venue management roles for a few years. This experience led to the opportunity to acquire the leasehold of Kealba Hotel.
In 2019, my family and I decided to purchase Kealba Hotel, where I took on the role of General Manager. Later that year, we expanded further, acquiring Summerhill Hotel and, during COVID, the Zagames portfolio. The vision and drive to grow in the hotel market became a shared challenge between myself and my father, Ian. Since 2019, we have successfully acquired eight hotel leaseholds in Victoria and two hotels in Sydney as going concerns. The company is currently owned and managed by Ian Francis and me.
FuturePlace: What’s one project or decision you’ve made at Francis Venues that you feel especially proud of – and what did you learn from it?
During the COVID lockdown in 2020, Ian and I made the decision to acquire Zagames Reservoir. Uncertain about how the pandemic would unfold, we finalized the purchase in early 2021. Over the course of that year, we secured and settled three additional Zagames venues, rapidly expanding the company from 70 employees to over 300.
This growth brought a significant surge in food and beverage operations, along with new challenges at the head office level. Before this expansion, the scale and complexity of such a transition were unfamiliar to both our management team and me. Successfully navigating these changes while emerging from the pandemic was a milestone achievement.
FuturePlace: How do you create long-term brand value through the way your venues look, feel, and operate – and what contributes most to that success?
Understanding customer demographics and their expectations is the foundation of building a strong hotel brand. Food and beverage offerings, in particular, must appeal to a broad audience. My approach has always been to deliver value-driven promotions, ensuring our hotels offer quality experiences at accessible prices. Thanks to our special offers, rewards program (Frisbie Application), and upgraded facilities, many of our regular guests return to our venue’s multiple times per week.
Continuous facility upgrades are essential to maintaining modern, clean, and visually appealing hotels. Entertainment also plays a crucial role, providing free activities for families such as trivia nights, kids’ entertainment, and live music. Additionally, the audiovisual experience must surpass what guests can enjoy at home – featuring massive LED screens and state-of-the-art sound systems – to create a compelling reason for them to step out and visit our venues.
FuturePlace: When evaluating potential acquisitions or redevelopments, what factors or signals do you look for before making a move?
Conducting due diligence is a crucial and often lengthy process before acquiring a hotel. Key factors such as freehold and venue quality, local demographics, projected growth, and area developments play a significant role in determining whether to proceed with an acquisition.
Beyond evaluating competitors, demographics, and the hotel’s fixtures and fittings, a comprehensive review of financial accounts and business trends is essential. The numbers must align with our trade model and provide reliable, actionable data. In many cases, due diligence may be conducted on over 100 (exaggeration) hotels before identifying the right acquisition that best suits the purchaser’s objectives.
FuturePlace: How do you balance preserving the soul of a venue with the commercial realities of modern hospitality?
Before making any significant decisions that could affect local patronage, consulting with customers and current hotel employees is essential. Their insights help guide thoughtful and informed choices.
After settlement, I typically review customer feedback, explore potential redevelopment opportunities, and assess recent competitor upgrades to understand their impact on the market. Hotel redevelopment and upgrades are necessary for maintaining relevance, but balancing the needs of different demographics is always a challenge – ensuring the new look and feel resonates with as many guests as possible while acknowledging that not everyone will embrace the changes.
FuturePlace: Technology and data are playing a growing role in hospitality – are there any innovations or tools you’re particularly excited about right now?
Advancements in technology and software upgrades have significantly improved our operations. Booking platforms, accounting systems, and POS solutions are increasingly integrating Artificial Intelligence, streamlining processes, and reducing costs for operators.
One of the most impactful changes has been the seamless integration of software applications, which has greatly enhanced efficiency in our back-of-house operations. The time savings, improved workflow, and reduction in manual labour have been invaluable in supporting our management team.
FuturePlace: What are you hoping to contribute to or take away from the Hospitality Real Estate Summit?
I’m eager to attend the Summit and gain insights into how other operators are navigating the current economic climate. It’s a great opportunity to exchange knowledge and strategies. I’m also looking forward to contributing valuable perspectives for operators considering the next step in their expansion – whether they’re independent owner-operators or part of a generational family hospitality business. Growth comes with uncertainty, but understanding the balance between risk and reward is essential for success.
FuturePlace: If you had to look five years ahead, what shifts do you think will most impact the pub and hospitality property market?
Interest rates and the cost of borrowing continuously shape market performance, influencing both freehold and leasehold opportunities. Additionally, State Government policies can directly impact the hospitality sector, adding another layer of complexity.
The challenge lies in balancing rising costs while sustaining strong customer revenue. Competition extends beyond hotels themselves – fast food chains and evolving hospitality trends create a dynamic and ever-changing landscape. Despite these pressures, I remain optimistic, as Australia boasts one of the most vibrant and resilient hospitality markets and cultures in the world.
Tom Francis will be joining an all-star lineup at the Hospitality Real Estate Summit, leading a targeted roundtable on ‘Partnering with landlords to maintain and enhance hospitality assets as A-grade leaseholds and structures.’ He’ll also take the stage alongside Antony (AJ) Jones (CEO, The Boathouse Group), Ben May (Founder, May Hospitality), and Craig Shearer (Founder, Kickon Group) in a mainstage panel moderated by Vanessa Rader, Head of Research at Ray White.
Their panel – ‘Adding Value to Existing Assets Through Smart Refurbishments and Design Upgrades’ – will unpack how leading operators are reimagining tired venues and underutilised spaces to unlock new value and strengthen guest appeal.
Key themes include:
- Strategic refurbishments that drive ROI
- Reclaiming rooftops, car parks and forgotten corners
- Navigating planning hurdles and zoning complexities
- Balancing modernisation with local character and heritage
If maximising performance, upgrading with purpose, or future-proofing your venue(s) is on your radar – this session delivers the insights and strategies to make it happen.
View the full event agenda here.
