Built in 1888 by John Walsh, owner of the Jolly Butcher's Hotel, the Centennial Hotel is one of the oldest continuous licensed hotels in Launceston. The hotel was named to commemorate Australia’s Centenary. Nestled in the valley of Launceston and on the main route to town, the hotel became one of the most popular establishments for travellers and locals particularly waterside workers, merchants and mariners.

By the 1890s it was a landmark in a town that was described as ‘pretty’ and ‘unpretentious in appearance.’ The impressive Victorian style hotel built of solid brick has a long tradition of hospitality where beer, meals and lodgings were obtained at a moderate price.

By 1915, Richard O'Keefe held the licence, with A. Fox following in 1922. In the 1950s the Tasmanian Brewery owned the hotel and in 1959 undertook extensive renovations including ensuite accommodation. Since the 1970s, the hotel was run as a family business and received continual internal improvement to the bistros, bottleshop and accommodation.

Featuring a distinctly European ambiance, the main dining area has a hunting lodge theme featuring hunting prints, deer heads and traditional decor. It has a cosy and intimate appeal, as well as offering family friendly comfort. It is just the place to sit and listen to live jazz and country rock on some Friday and Saturday nights, and special music events such as the Centennial Jazz Festival.