The home side got themselves into a two goal lead with efforts from Kevin Doyle and David Edwards and although Danny Murphy did lift the Cottagers hopes slightly by converting a second half penalty, a win for Wolves always looked on the cards.
"I thought we started playing far too late," Hodgson told Sky Sports .
"On the evidence of the 90 minutes, I've got to say that Wolves did very well and deserved the victory but obviously we're disappointed that we didn't get ourselves playing the way we wanted to play much earlier”.