Two companies - Rankin Builders of Pambula and Irisha/Rubycove from Melbourne - have lodged tenders with Bega Valley Shire Council to buy and restore Eden's iconic Hotel Australasia.
A Bega Valley Shire Council spokeswoman said the tenders - confidential at this stage - were currently under evaluation and will go to the August 30 council meeting for a decision.
"It is pleasing to receive interest from both locally based and interstate commercial entities," the spokeswoman said on Monday.
Council said the successful tenderer would be required to restore the original part of the old 1904 hotel, with plans to list it as a heritage item.
Restoration must commence within nine months and be completed within two years, it said.
Selection would be based on previous project experience, as well as being able to demonstrate “local community benefit” and commercial activation of the building.
Tenders closed on Wednesday, August 2.