Jonny Jones, who owns North Street Social, has reversed a decision to put the venue up for auction after seeing footfall increase in the last few months.
The bar, which opened in February last year, temporarily closed again in August due to the city centre roadworks stopping customers from coming to the bar.
He put it up for auction last month but has now taken it off the market, with his wife Charlotte who runs it reporting 'record numbers' recently.
The opening night of The Halls saw Blur visit the bar for the after party and a decision to take bookings only and use it as a fan zone for Wolves' games has also got the cash as well as the beer flowing.
Jonny, who previously ran the venue as Blossoms and also has another business, praised Wolverhampton Council for completing the work in North Street and nearby Victoria Street and 'speculating' in trying to improve the fortunes of the city centre.
He said: "Things have been buzzing lately – obviously there has been the increased number of people with The Halls open but even before that things were looking up and we noticed an increase in business in this area of town.
"We have taken bookings from a lot of groups such as birthday parties, the Desi Fever group and hosting a fan zone for Wolves games so things are looking at.
"But generally people seem to be coming out more and I give credit to the council for the building work they have done and the way they are trying to transform the city centre to make it more attractive to visit.
"They have taken stick, including off me but credit where it is due and it needs everyone pulling together if we are to make the city centre the place it can be."
He feels the culmination of roadworks in the area coming to an end, the re-opening of the former Civic Hall as a new venue, and the council's plan to rejuvenate and invest in the city centre means the future is positive.