The Clovelly Hotel sold, sells to Greenwood Hotel owners

Solotel, headed by publican Bruce Solomon and chef Matt Moran, have sold the Clovelly Hotel, with Nick Wills' Tilley & Wills Group touted as the buyers.

The Tilley & Wills hotels group own Sydney CBD's Verandah and North Sydney’s Greenwood Hotel.

Bruce Solomon, director of the Solotel Group, told the Australian Hotelier website they're rebalancing their portfolio.

“Solotel have made a strategic decision to rebalance our portfolio for future growth, and invest in our freehold venues.

"This means we are unfortunately saying goodbye to the Cloey locals, who were a pleasure to serve over the past two years.”

Solotel asset manager John Preston suggested the Cloey is an important part of the local community.

"We have a first class team to take the Hotel forward and the best times are ahead.”

It was less than two years ago that Moran and Solomon's Solotel bought the property from Iris Capital.