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.

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

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.

Oscars Group has agreed to purchase Luna Park Sydney off Brookfield for an undisclosed amount, beating out international competition.

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

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

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.