The owners, the Bozzo family, have made their biggest stake in the lifestyle and golf resort on the edge of the town with plans for a $35 million hotel complex overlooking Lake Mulwala.

Similar plans have been released before, but never eventuated.

The former owners encountered financial difficulties and the resort's future sat in limbo.

But two years ago the Bozzo family purchased the property and since then has started to get some important runs on the board.

The 18-hole championship golf course designed by five-time British Open champion Peter Thomson's company was fully completed in late May.

Operators are presently trying to woo tournaments which will drive visitation to the popular Murray River destination.

But the announcement on Thursday of a hotel complex is a huge vote of confidence by its owners.

The waterfront hotel will form the core of a wider resort and marina complex.

It will include a bar and bistro, restaurant, 300-seat conference facility, pool, gym and other health amenities.

A planning permit has been lodged with Moira Council in a move which signals the strong intentions of the owners.

The hotel will have 120 rooms, but the owners want to sell half before kicking off.

They have consulted widely and are confident there is the demand for the type of accommodation proposed.

In an ideal world, construction will start in early 2016 and be completed two years later.

Yarrawonga is the fastest growing town in the Moira Shire and also a popular tourist destination.

The owners are "bullish" about the area's future and their latest stake in Silverwoods is proof of their optimism about the town's potential.

The two-fold boost for Yarrawonga and surrounding area will be jobs in the construction phase and those created in the tourism industry when the hotel complex is completed.

It is exciting times for the town with other developments in the pipeline.