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Conroe council approves Hyatt Regency FY2026 budget despite multi‑million dollar debt shortfall
Summary
Council approved the Hyatt Regency hotel’s FY2026 operating and capital budget after budget presenters and finance staff warned the hotel will not cover all debt service in the near term, producing an estimated FY2026 shortfall of about $2.58 million; council asked staff for a multi‑year capital plan and additional financial analysis.
The Conroe City Council approved the FY2026 operating and capital budget for the Hyatt Regency hotel and convention center on Dec. 11, after a detailed presentation that showed operating revenue rising but insufficient to cover the hotel’s debt obligations.
Walter Possecki, the owner’s‑representative/asset manager appearing for Garfield Assets Management, told council that proposed room and food‑and‑beverage revenue would yield modest year‑over‑year gains but would not eliminate a structural shortfall once debt service and reserve requirements were counted. Finance staff explained the numbers during a question‑and‑answer session: available operating cash for debt service was about $1.787 million for FY2026, while the…
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