Stu Laundy and Justin Hemmes are said to be in a fierce battle to buy the iconic Pacific Hotel in Yamba, close to the New South Wales coastal town of Byron Bay.
According to The Herald Sun, the picturesque cliffside hotel - which hasn't changed hands in over four decades - is reportedly looking for an asking price of close to $50million, and has peaked the interest of both parties.
It wouldn't be the first bidding war for the duo, as it's understood the pair recently battled over Chris Hemsworth's local watering hole The Lennox Hotel in nearby Lennox Head.