The historic 100-year-old facade remains, but inside you'll find the results of a multi-million dollar nip and tuck which spans throughout five distinct drinking areas.
Newtown residents must have wondered if they'd stepped into a location vortex when this perennial favourite relaunched at the end of 2006.
The comfortably shabby interiors have been replaced by huge art deco-influenced mirrors, a contemporary marble bar, topiary trees and communal tables. In the Velvet Room upstairs, interior design firm JSB Interiors has introduced a backlit onyx bar, massive Italian leather armchairs and the requisite addition of velvet curtains - all leading out onto a chic upper deck, which juxtaposes interestingly with the view down onto King Street's grungy streetscape.
The beer and wine isn't as cheap as it was, but for a hotel of this size and style the pricing is still competitive. Award-winning bartender Ben Davidson's cocktail list includes cut-above creations such as the Creole Sidecar (Martell Cognac, Tia Maria, lemon, blood-orange juice and pepper) and new-millennium updates on classics such as the whisky sour (known here as the Steel Cap).
Bar food options includes a Sumalee tasting plate for two, named for the hotel's popular Thai kitchen, a healthy range of Mediterranean classics and a selection of quality local cheeses. Crowd-wise, the venue attracts a mix of upwardly mobile professionals, same-sex couples and loyal regulars from back when The Bank was just another seedy Newtown local.
Jennifer Paterson
