Owner Chris Forrest, who could not be contacted for comment yesterday, leased the pub to Poolburn residents Larry and Carman Connell two years ago.
"We took it on because the owner walked away from it and it looked as though it was going to be lost to the community. We wanted to keep it open so prospective buyers could see it as an operational hotel.
"It's a great wee pub, and has always been very busy," Mr Connell said.
The Connells, who have lived at Poolburn for 17 years, said they had decided not to renew their lease after November 20.
Mr Connell, who has been a fulltime graphics and design technology teacher at Dunstan High School in Alexandra for 21 years, said the past two years had been extremely busy but "wonderful".
Mrs Connell has also been working fulltime, previously at an Alexandra pharmacy and recently as manager of a Queenstown pharmacy.
The couple have managed to run the pub from 5.30pm during the week as well as all day and night at weekends and school holidays, despite their fulltime jobs.
"We are looking forward to our first holiday in a while, and to being able to relax and get things done around the house," Mr Connell said.
The hotel has served the people of the southern Ida Valley as well as visitors for more than 100 years.
"We've had people from all around the world stay to go fishing or ride the Otago Central Rail Trail.
"Many have come back as return customers and it's that sort of thing I will miss, as well as getting to know the locals so much better," Mr Connell said.
In 1930, the Poolburn Hotel was moved to its existing site on the Ida Valley's main road, and Mr Connell said it had not changed since then.
"It's more than just a pub which serves alcohol - it is a social meeting place for the entire community. Farming has been tough over the years and it's a place where farmers can talk with each other about what's going on and compare notes.
"Social playgroups, the Lions club, and all sorts of other community groups also use it as a meeting venue, even though we've a great community hall in Poolburn," he said.
The next closest pubs are situated 10 minutes away over Blacks Hill at Ophir and Omakau, and there is also a watering hole about 30 minutes up the Ida Valley at Oturehua.
Mr Connell said it would be a "real shame" to see the pub closed for good, and remained optimistic about its being sold so it can reopen.
"I think there's still life in it yet. It would be terrible to see it die. We've such a great community in Poolburn and they have been wonderful, but there's only so much the community can do," he said.
The Connells will put on a community barbecue at the pub on Sunday, and will continue to open during evenings until next Thursday night, when the doors will be locked until further notice.
