The Courier of Montgomery County reports that Conroe city council members learned as they considered the 2026 budget for the Conroe Hyatt Regency Hotel and Convention Center that it won’t come up with a profit in 2026 and won’t be meeting growing debt requirements.
During their December 11th meeting the city council okayed a $10.6 million budget for the hotel owned by the city. Projected revenues will remain the same as in 2025 at $2.1 million.
Senior Vice President with Garfield Public Private, Walter Peseski, on behalf of Hyatt presented the budget and passed along that the city would be “significantly short” on money to repay the growing hotel debt that has topped more than $170 million.
Originally issued by the city were $28.715 million for lien number one, $27.16 million for lien number two and $22.215 million for a third lien. Come April, a $1.76 million dollar payment is due for the first lien, $1.8 million for the second and $900,000 due on the third lien. Sales tax pays the third lien.
Councilwoman Marsha Porter has pointed out that the city is not making any money, while the Hyatt and Garfield Public Private are.
