Armed robbers remain on the run as injured worker's condition improves

The Cooks Hill institution was able to reopen at about 6.30pm last night, more than 12 hours after it was thrust into the centre of an extensive police investigation and combed by crime scene officers.

It's understood a cleaner at the hotel, on the corner of Bull and Union streets, was found seriously injured on King Street after he was beaten up while trying to flee from two armed men at about 4.45am on February 28.

Police said they had to perform CPR on him before paramedics arrived and the man was transported to John Hunter Hospital.

A Hunter New England Health spokesperson confirmed to the Newcastle Herald on Thursday afternoon that the man was listed as being in a stable condition.

It was an improvement from Wednesday night when the spokesperson said he was in a serious but stable condition.

A second employee at the hotel was left shaken but not physically hurt in the ordeal, police said.

Emergency services were first called to the Commonwealth Hotel after reports two men - one wielding a machete and the other a baseball bat - forced their way in and confronted the two workers.

The intruders fled with what the Herald understood to be a substantial amount of cash.

The assailants were described as being of Caucasian appearance, aged in their 20s and wearing masks.

The wanted men remained on the run on Thursday afternoon, while the investigation into how the armed robbery unfolded and who was behind it was continuing, police confirmed.

Crime scenes were established and Union Street was closed in both directions between Bull and King streets for several hours on Wednesday while officers searched the area.

King Street was also partially closed at the intersection of Union Street and local traffic diversions were in place.

The Commonwealth Hotel was cordoned off with police tape and detectives and forensic officers were seen swarming the area.

The Commonwealth Hotel's courtesy van was seen being dusted for fingerprints and photographs of items of interest were photographed.

Yellow evidence markers were set up and forensic photographs taken at the King Street end of the crime scene as well.

The doors to the Commonwealth Hotel were able to open for the evening crowd on Wednesday after police gave clearance.

"We thank everybody who has sent in their best wishes and hope to see you all in soon," a public statement from hotel staff said.

The "Commy Team" had earlier issued a statement saying they had been assisting police and thanked people for their patience while they dealt with the "very unfortunate incident".

"Our immediate concerns and thoughts are with the staff involved and their speedy recovery," they said.

As the manhunt continues, any witnesses, anyone who may have dashcam footage, or anyone else that noticed suspicious activity in the area has been urged to contact Newcastle police or Crime Stoppers on 1800 333 000.