Staff at the Golf House Hotel in Doveton Street, Ballarat North, were held at knife-point just after 12am, when a lone offender entered and demanded cash.

Police are still hunting the man and have called for anyone with information to come forward.

Detectives also want to speak with a man who first spoke to police on Norman Street minutes after the robbery took place.

The man arrived in a light-coloured vehicle, identified himself as a photographer and spoke to police about a vehicle he had seen leaving the area.

During the robbery, police said the offender threatened two hotel staff members with  a “large carving knife”, then left with an unspecified amount of cash.

No hotel staff or patrons were injured during the robbery.

A joint investigation has been launched between detectives from the Ballarat Criminal Investigation Unit and the Melbourne-based Armed Crime Taskforce.

They say the man appeared to have acted alone in the crime, but investigations are continuing.

Detective Senior Constable Steve Campbell said between CCTV footage and eyewitness accounts, a brief description of the offender has been made available.

“He’s described as a man about six feet (182cm) tall, wearing dark clothing,” he said.

“He had a dark hooded top pulled up around his face and he was armed with a large carving knife.”

Detective Senior Constable Campbell confirmed the offender was last seen running through parkland immediately north of the hotel as soon as he left the building with the stolen cash.

Police are still unsure if a vehicle was later used in the getaway.

Anyone in the area at the time of the robbery or anyone who might have seen the offender getting into a vehicle can call Ballarat Criminal Investigation Unit on 53366080 or Crime Stoppers on 1800 333 000.