The City of Bryan wants a hotel in their downtown area, but they don’t want to own it.
Bryan Commerce and Development voted Tuesday to authorize city staff to start negotiating with firms that are interested in coming in to manage the LaSalle Hotel, with an eventual goal of buying the historic property.
Assistant City Manager Joey Dunn says the city is committed to having a hotel in the downtown area.
Over the past few years the LaSalle has produced enough revenue to cover their own operating expenses, although they are not capable of servicing their debt.
That debt service will cost the city roughly $330,000 this year, but Dunn says the hotel’s operations and revenues are growing each year along with the downtown area.
Denver based Magnolia Hotels currently operates historic hotel properties in Dallas, Houston, Omaha and Denver.
Dunn says they are the top ranked firm going