Pubs are allowed to trade for up to 10 people at a time on Friday but North Gong Hotel will not open.
"10 people is not feasible for us from a sustainability perspective," Toby Wiedemann said.
"At this stage we will be waiting until we get some more lenient restrictions.
"We probably won't open until stage three".
Mr Wiedemann said if North Gong did open and sell alcohol with a meal it would require a manager, chef and another staff member and that was just not viable for only 10 people.
"I am not aware of any other large venues that are going to open," he said.
Mr Wiedemann said North Gong Hotel was aware many patrons are eager to come back and enjoy the venue again.
But management wants to wait until it can be done well and safely for all concerned.
The Steelers Club has made a similar decision.
General manager Sharon Arrow said it was too early to open at the venue at this stage because the cost to open for 10 people would way exceed any revenue potential.
"We will have to wait it out until the restrictions loosen and we have the ability to open more than a dining room," Ms Arrow said.
"But we are comforted by the fact the ball is rolling".
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