“This is a landmark day in the history of our city. Hyatt Regency Conroe will be another jewel in the crown of America’s Miracle City,” Mayor Jody Czajkoski said in the release. “We’re not only thrilled to see this fantastic project move forward but are also excited about the economic development opportunities it brings along with it.”
The hotel will have 250 rooms and include a full-service restaurant, full bar, pool deck, gym and a market. The 41,000-square-foot convention center will include a 15,000-square-foot grand ballroom, 8,000-square-foot junior ballroom and 8,000 square feet of breakout rooms and board rooms.
The project is anticipated to be complete in the second quarter of 2023, according to the release.
The project is financially self-sustaining and will bear no burden to taxpayers, said Steve Williams, assistant city administrator and chief financial officer, in the release. The cost is expected to be paid through revenues and taxes generated by the hotel and convention center, according to the release.
“I couldn’t be more pleased with the timing of the sale of the bonds utilized for this project,” Williams said in the release. “We were able to successfully issue debt at historically low interest rates, which will save us millions of dollars of interest long-term.”
The estimated maximum total cost for the project is $98 million, Community Impact Newspaper previously reported.
“We look forward to introducing a Hyatt Regency hotel to Conroe and [being] part of this exciting new development project,” said Kimo Bertram, Hyatt’s vice president of real estate and development, in the release. “The Hyatt Regency brand resonates with business and leisure travelers alike and the hotel’s facilities and amenities, paired with its proximity to the convention center, are expected to offer a seamless, intuitive experience for guests.”