Three thieves who had their faces covered to conceal their identities broke into the Courthouse Hotel in Corryong in the early hours of Saturday morning to steal cash and porterhouse steaks.
They entered the pub through an unlocked door for motel guests at 3.40am then damaged the door to the office with a crowbar to force their way inside.
Money was stolen from inside the safe, before the thieves stole meat from the kitchen on their way out.
Wodonga Detective Senior Constable Justin Foots said there were people sleeping inside the building at the time of the break-in, upstairs in the motel, but they did not hear the thieves.
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The theft was discovered by the pub manager when he arrived early the next morning.
Police will examine CCTV footage of the incident.
Detective Foots has asked anyone who saw suspicious people or cars in the area of the pub on Friday night or early Saturday morning to contact police on (02) 6049 2700.