Responding to a proposal to demolish the Greyhound Hotel and to significant community concerns, the City of Port Phillip commissioned Context to undertake a cultural values assessment. Context focused on understanding the history of the hotel, its development and changes over time, its setting and its contemporary community associations. Social values were explored through analysis of social media, an online survey and targeted interviews. The conclusion was that the Greyhound Hotel was of local historical and social significance to the City of Port Phillip. Historically the hotel is one of few remaining buildings in the City of Port Phillip that reflect the history of Victorian hotels generally, and locally charts the changing fortunes of St Kilda, and specifically, the history of the LGBTQI community in Victoria. The Greyhound Hotel was recognised as being of social significance for its strong and special associations with the St Kilda community and the local and broader LGBTQI community. [Context Pty Ltd]

The Greyhound Hotel was demolished in 2017.