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Coins in the fountain at Mineral Wells historic Baker Hotel?Coins in the fountain at Mineral Wells historic Baker Hotel?https://www.recenter.tamu.edu/news/newstalk-texas/?Item=15272015-03-09T08:18:00Z2015-03-09T08:00:00Z

MINERAL WELLS - An historic Texas hotel now in ruins that drew celebrities and visitors to its mineral waters decades ago could once again generate millions of dollars in profits after renovations.

The Mineral Wells Index reported a study shows the Baker Hotel, about 50 miles west of Fort Worth, could realize $2.1 million in net operating profit if renovated. In ten years, annual net profits could reach $5 million.

Besides the conversion from more than 400 current guest rooms to 157, the redeveloped hotel’s plans call for 23,750 sf of meeting space, including a 4,875-sf ballroom

The study was compiled by Houston-based PKF Consulting USA for Chad Patton and Laird Fairchild of Baker Hotel Development Partners LLC.

Using uniform hotel industry performance baselines, the Baker Hotel in its first full year of operation could see $12.5 million in gross revenues, based on room rentals, food and beverage sales, spa revenue, rentals and special events, and other income.
 
Take a tour of the Baker Hotel here, courtesy of Tyler Mask, staff writer of the Mineral Wells Index.com. Mineral Wells is in Palo Pinto County.

NBC 5
Dallas-Fort Worth-Arlington
Hotel
http://www.nbcdfw.com/news/local/Historic-Texas-hotel-Could-Generate-Millions-in-Profits-295546361.htmlRead more at {Source}

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