Detectives launched an investigation - codenamed Strike Force Krichauff - after two men armed with a baseball bat and a machete allegedly robbed the Cooks Hill pub just before 5am on February 28.
Strike force police homed in on 34-year-old John Jerrett at Mayfield just before midnight on Wednesday, March 6, after a week-long manhunt.
Jerrett was arrested and taken to Newcastle Police Station, where he was charged with robbery armed with an offensive weapon and recklessly causing grievous bodily harm.
He was refused bail in Newcastle Local Court on Thursday and will remain behind bars ahead of his next court date in May.
Police will begin compiling a brief of evidence in the case in the meantime.
Jerrett has not been required to enter pleas to the charges.
Strike Force Krichauff detectives allege Jerrett was one of the two men behind the armed robbery but are continuing the hunt for a second masked man.
Emergency services were first called to the Commonwealth Hotel after reports two men - one wielding a machete and the other a baseball bat - forced their way in and confronted the two workers.
Police rushed to the scene and had to perform CPR on one of the hotel's staff members after they were found seriously injured on King Street after trying to flee.
It's understood the employee had been beaten up and suffered a medical episode, and was rushed to John Hunter Hospital.
A spokesperson from Hunter New England Health confirmed in the days after the armed robbery that the man's condition had stabilised.
The second employee was shaken by the ordeal but not physically injured, police said.
The intruders allegedly fled with what the Newcastle Herald understood to be a substantial amount of cash.
Crime scenes were set up at the hotel, on the corner of Bull Street and Union Street, as well as at King Street, for several hours.
Forensic police and detectives swarmed the area - combing for clues, collecting evidence, taking crime scene photos and dusting for fingerprints - as they worked to piece together what happened.
The Commonwealth Hotel reopened to the public more than 12 hours after the armed robbery.
"Our immediate concerns and thoughts are with the staff involved and their speedy recovery," a statement released at the time said.
The team from the "Commy" announced it would hold a fundraiser - with the support of local businesses and groups - on Friday, March 8, after a "tough week".
"Everyone who is part of our community knows that we're more than just a pub - The Commy is a second home for many, and our staff and customers look out for each other like family," a statement on Wednesday said.
All proceeds from the event will go towards supporting the two staff members involved.
As police hunt the second alleged offender, the public has been urged to contact police with any information they might have.
Crime Stoppers: 1800 333 000
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.