Current owner Colin Raybould said while the hotel was not officially up for sale, he would consider offers to purchase the building.

Local and Melbourne real estate agents have spoken to Mr Raybould about a sale.

"I haven't signed anything yet," he said.

Mr Raybould also knocked back an approach to sell the Criterion, before Christmas, from a group wanting to convert it into apartments.

"It's coming to the stage where if they came back, I would feel like `yeah, go for it'," he said.

The news comes only days after Wellington Shire Council temporarily closed the 141-year-old building because of safety concerns until the verandah and interior have been repaired.

Since the Criterion was closed, scaffolding has been erected underneath the verandah, which will remain in place until the repairs are completed.

"Hopefully we've got the verandah safe, we're now working on getting the inside safe," Mr Raybould said.

Of particular concern inside is the middle bar.

"All the floor's rotten and the ceiling's falling down," Mr Raybould said.

Repairs to the building will begin once Mr Raybould obtains a permit from Wellington Shire Council.

Mr Raybould has sought a meeting with council chief executive Lyndon Webb and community and economic director Steven Dickson to discuss the restoration of the hotel.

"I'd like to have a meeting to see if we can't resolve all these issues," he said.

"If there are any councillors who want to find out my plans, I'll gladly speak to any of them."

Mr Raybould said once repairs were completed the Criterion would become a major tourist drawcard, employing up to 20 full-time staff.