He also found time to get a bachelors degree in marketing from the University of Sydney.

After two years of running the Shoal Bay Country Club alongside his father Andrew after his family business acquired it and poured millions of dollars into a refurbishment, he's ready to take on the challenge as director of the Beach Hotel in Merewether.

The Lazarus family takes ownership of the landmark pub on Monday, March 2. Peter Lazarus couldn't be more enthusiastic about the opportunity. "It's super super exciting," he says during an interview at the Beaches in mid-February. "I've been waiting for March 2 for a couple of months now."

Lazarus has been answering questions in this interview for an hour, hardly drawing a breath. He hasn't even ordered a drink of any sort.

He's respectful, certainly aware of how important the Merewether hotel has been to the locals who frequent it, and John Twohill's job of running it for decades.

Peter Lazarus will be living on the premises at the Beaches. "That will be me for now," he says. "I think being here is the main focus, definitely for the short term anyway. Being hands-on, being around, being here when I'm needed is important."

While he was born into a pub family, and lives, eats and breathes it, he knows you have to learn it.

"It's just exposure to the business," he says about the pub game. "That's how you learn, that's how you grow. Someone like John [Twohill], here for 40 years, you can't buy the knowledge he holds. He lived upstairs, he's grown a family upstairs. You can't substitute what you've gone through in the past for those experiences."

The Lazarus family runs six venues - three in Sydney (Lone Pine Tavern in Rooty Hill, El Toro Motor Inn in Warwick Farm, The Eastern in Bondi Junction) and three in Newcastle and the Hunter (Beach Hotel, Shoal Bay Country Club, and the Exchange Hotel in Hamilton).

"In the last few years we have restructured our portfolio, and moved our focus to this region," he says. "For a number of reasons, we can see plenty of opportunity and the lifestyle that goes with it is an added benefit."

When the family purchased the Beaches in November, Andrew Lazarus said: "When we thought about possibly expanding our hotel portfolio, I thought to myself there would only be one pub in all of Newcastle that we'd be interested in purchasing, and it came along, so I was determined to do everything possible to get our hands on it."

Peter Lazarus seconds that view, saying, "We see this as a long-term investment, it's as simple as that. It's the type of venue where it can essentially become the pillar of your whole company. That's how we picture the prospect and the opportunity that lies within. It is definitely a long term investment. Something I envisage will stay in the family for many, many years."

It's not simply a matter of buying a gold mine, far from it. While they see potential in improving the property, and have been open about their willingness to commit new investment funds, they will do their homework first.

"There's a degree of investment that will come into the venue when the time is right," Peter Lazarus says. "Once we're confident we've built up that knowledge and understand what the client wants. I've said this before, but the term iconic gets thrown around left, right and centre. This really is an iconic venue in Newcastle. And, yes, I'm really excited about the potential in it and the project over the next couple of years."

What's the first thing that customers will notice under the new ownership?

It's going to be closed for four days from Monday, March 2, when the new management takes over, until Friday, March 6, when they reopen after a very quick "refresh" of the venue.

And when the doors to the Beach Hotel swing open at 5pm on Friday, March 6, the pub is shouting the first beers.

On March 30 the hotel will launch a new food menu, wine and cocktail list.

Peter Lazarus knows there's plenty of competition right in Merewether, and he welcomes it.

"I think that adds to the vibrancy of Newcastle," he says. "That's what Newcastle is all about. It's a vibrant social scene. A strong pub culture. I think, if anything, it's good for the city. From a business perspective, it just means you need to constantly strive to up your game and have ways of staying ahead of the competition."

New pub owners plans a "refresh" and a free drink

Larazus family buys Beach Hotel