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Article: Newly Built Bay City, Mich., Hotel Serves as a Tribute to the Nonprofit Ownership Model By Garfield Traub Development; Bay City, Mich., Becomes the Sole Beneficiary of Hotel Profits With Limited Financial Support.
- Article from:
- PR Newswire
- Article date:
- October 12, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS, Oct. 12 /PRNewswire/ -- The recently completed Doubletree Hotel Bay City - Riverfront, located along the riverfront in the heart of downtown Bay City, Mich., was developed under the nonprofit ownership model by Garfield Traub Development LLC. The City of Bay City will serve as the sole beneficiary of all profits under the ownership model.
(Photo: http://www.newscom.com/cgi-bin/prnh/20041012/DATU017 )
"We introduced the nonprofit ownership model to the City as a way to build the only full-service hotel and conference center in the region without extending the City's general credit," said Tony Traub, principal of Garfield Traub. "The City will ...