Bendigo's Hotel Shamrock has changed hands for the second time in four years.
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After purchasing the business in late 2019, current operators Ray Sharawara and Mark Marantelli have sold the lease to new owners for personal reasons.
Mr Sharawara said the new owners will take over on June 27.
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"The three years we have been here have been fantastic. The only problem was COVID, which was challenging but we got through it," he said.
"The pub survived well and hopefully the new owners can continue to improve it."
"Mark and I have been business partners for 22 years, so we agreed to go in to this together and out together.
"If the circumstances were right and these personal reasons didn't crop up (we would stay longer). We had a 43-year lease but have managed to sell it on to new people."
Mr Sharawara said the new owners own a number of hotels in South Australia and Victoria.
"They have 37 hotels - a lot of which have been purchased in the last couple of years. With 26 here and 11 in South Australia," he said.
Mr Sharawara and Mr Marantelli bought the business from land and building owner Jim Hogan in 2019.
Mr Hogan operated the hotel for 12 years after purchasing it in 2007 for a reported $9 million.
Since then the business partners have completed renovations on the building.
"We are leaving the pub in good shape. When you have a long lease, you have the ability to spend a few bucks on the venue and along the way, recoup that money.
We have done some renovations and planned more. We did the cafe and bistro, which are firing beautifully now.
"The accommodation began with nine new rooms in addition to what we had. They are nearly five-star rooms.
"Since getting on track after COVID, everything has been being terrific."
Mr Sharawara, who is also an executive board member with the Australian Hotels Association, said he has other hotel interests to pursue.
"I'm sorry to leave Bendigo and the input I have been able to put into hotels in the area," he said. "I still retain my position with the AHA and will continue to work as hard as I can for hotels in Bendigo and Victoria."
"COVID has been tough and we fought hard with the governments to get the best for the industry.
"For a while we were not getting enough financial help but in the end it did arrive and we were thankful for that. The money they gave us at end for 13 weeks was a God send and we - along with other businesses - got through."
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