Independent valuation finds Conroe Hyatt worth about $22–24M; public comments press for charter changes
City-hired evaluators said the Hyatt Regency Conroe’s market value has fallen to roughly $22–$24 million, prompting public callers and some council members to renew calls for charter amendments (including Proposition O) and for accountability over prior financing decisions.
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A Jones Lang LaSalle appraisal presented to the Conroe City Council on Oct. 23 found the Hyatt Regency hotel and the adjacent convention center would likely fetch about $22 million to $24 million on a normal market sale — far below the roughly $134 million construction cost cited by officials. The presentation and more than an hour of public comment focused attention on how the project was financed and whether voters could have intervened under proposed charter changes.
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