Dubbo-based pair Ryan Maas and Grant Wheeler have purchased the multi-million dollar venue, which closed in October last year, and plan to reopen in January.

While some changes will be made - including replacing the bar, upgrading the kitchen, and improving the beer garden near the entry - Mr Maas said it would largely stay the same.

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"Today is the first day and we're going to start doing some works," he said from the site.

"We want to get it open as soon as we can.

"At this stage that should be in the middle of January."

The new owners have already started advertising for staff, including managers, chefs, food and beverage workers, and cleaners, with about 30 people likely to be employed.

They aim to create a family friendly venue featuring live music.

"The feedback we've got, everyone's pretty keen to get the pub back open and back to the good old days," Mr Maas said.

"That's what we're going to try to do.

"It's in a growth area.

"We've done a bit of research and there are 12,000 or 13,000 people who live in Thurgoona, and this is the only hotel other than the (golf) club."

Mr Maas owns a construction company and will renovate the woolshed using a mix of local tradesmen and those from other areas.

He said running large outdoor gigs could be challenging with homes moving closer to the site, but said such events could be considered if allowed by Albury Council.

Acts including the Hilltop Hoods have previously played there to thousands.

Poker machine numbers may also increase at the venue, which was built on the 3.5 hectare site in 1988.

"There are 12 pokies here now," Mr Maas said.

"That's obviously a growth area.

"Unfortunately that's where hotels make their money so if you don't have pokies, you don't have a pub anymore.

"You can't trade without them."

Mr Maas and Mr Wheeler are involved in the Garden Hotel in Dubbo and National Hotel in Toowoomba.

The Kinross closed after a dispute between the former owner and former lessees.