A NSW hospitality company has been revealed as the new owner of Sydney’s famous Luna Park, months after the beloved harbourside attraction hit the market for the first time in two decades.

Sydney’s iconic Luna Park has switched hands, selling for the first time in almost two decades to major local hospitality player, Oscars Group.

Luna Park has found its new owners following a 6-month search. The Sydney amusement park went up for sale in June.

The new owner is one of NSW's largest privately-owned hospitality groups, with venues along Australia's eastern seaboard.

Oscars Group, one of the largest privately-owned hospitality groups in New South Wales, has acquired Sydney’s iconic Luna Park.

The popular harbourfront landmark was sold by Canadian investor Brookfield for more than $50 million. Its new owner described it as a “great opportunity”.

Luna Park officially has a new owner, with NSW hospitality giant Oscars Group swooping in to buy the iconic attraction from international investment firm Brookfield.

Sydney Harbour’s Luna Park has been snapped up by the pub and hotel owning Oscars Group, with the low-profile company planning to revitalise the ageing fun park with a series of new harbourside restaurants and bars.