Conroe will need to cover debt on Hyatt hotel until 2050, report shows

Conroe will have to cover debt on its new $133 million Hyatt Regency Hotel and Conference Center Conroe until 2050 according to an updated report, which shows the city will be on the hook for around $1 million in annual payments until then. Last year, the city hired consultant Virginia-based REVPAR International to provide estimated future cash flow for debt service and surplus revenue from the hotel operations. Chris Cylke with REVPAR International presented the study to the city council during a Wednesday workshop. While the hotel will see some...