A Closed Hotel Changes Hands at USD 14 Million
The Last Hotel at 1501 Washington Avenue in St. Louis sold for USD 14 million to an entity tied to Singh Investment Group of Augusta, Georgia. The source report carries both the price and the buyer. The hotel holds 142 rooms. That price equals about USD 99,000 a room, the figure the report prints.
The property had carried a USD 16.5 million asking price. The St. Louis Business Journal reported on 13 March 2026 that the sale price fell short of that figure after years of litigation and a failed 2025 deal. The Springfield Business Journal reported on 17 March 2026 that the sale was valued at USD 14 million, and it credited the St. Louis Business Journal for the figure.
The Hotel Entered the Market Closed
The Last Hotel shut on 6 March 2025. The source report states the property was in receivership when it closed. About 82 guests learned of the shutdown from a note on the door that told them to find another hotel and directed them to TripAdvisor. Employees lost their jobs at the same time.
Maverick Hotels and Restaurants announced in May 2024 that it had taken over management of the property, per the source report. That arrangement ended before the closure.
The St. Louis Business Journal reported on 25 September 2026 that the hotel's former owner filed a lawsuit against his ex-partner, the property's lender and others. The suit alleges conspiracy to undermine his position and to force a sale at USD 14 million.
What the Previous Conversion Cost
The building opened as The Last Hotel in summer 2019. Hyatt's own release of 30 June 2020 states the restoration cost USD 54 million and took 18 months. The hotel occupies a ten-storey building that went up in 1909 for the International Shoe Company. That restoration produced 142 guest rooms, among them 47 junior suites, one Governors Suite and one Presidential Suite.
The renovation now under way carries a budget near USD 4 million. The two figures set the entry basis for the new owner against the cost of the last conversion of the same building.
The First Hyatt Affiliation Lasted Under a Year
The property joined The Unbound Collection by Hyatt on 30 June 2020. Hyatt's release names HRI Lodging as the management company appointed at the same time, and it puts the brand at 20 hotels worldwide at that date. The source report states the affiliation ended by noon on 24 May 2021.
Paid reservations would still be honoured under the exit, per the source report. Guests would lose Hyatt points and benefits. Existing award reservations would not be honoured. Hyatt said at the time that it was working to move award bookings to other Hyatt hotels, and that members' points and rewards are refunded in these situations. Those terms come from the report's own reporting.
The Asset Returns to the Hyatt System
Hyatt Centric Downtown St. Louis opens on 15 October 2026. STL.News reported the date and an approximately USD 4 million renovation on 7 October 2026. The source report gives the same date and the same renovation figure.
Hyatt has published the property on its own system. A company fact sheet dated 23 September 2026 lists 142 guestrooms, 6,886 square feet of flexible event space across five meeting and event venues, four food and beverage outlets and a seasonal rooftop pool. STL.News reports 11,750 square feet of meeting and event space across ten venues, and it attributes that figure to Hyatt's property information. The two Hyatt-attributed counts differ.
What the Operator Platform Adds
The flag restores distribution to the building. World of Hyatt membership applies at the hotel, per Hyatt's fact sheet. The 2021 exit cut the loyalty channel, and guests lost points and benefits on a live booking. The reopening returns the member channel and the brand booking system to a 142-room asset that sat dark for more than a year.
Hyatt Centric trades as a lifestyle brand for central-city locations. The block sits next to the City Museum and within walking distance of America's Center Convention Complex, per Hyatt's fact sheet and the STL.News report. The venue mix carries a rooftop pool, a lobby bar, a New American restaurant and a 24-hour grab-and-go outlet.
The sale price and the renovation budget together set what the new owner carries into the reopening. The hotel returns to trading seven months after the March 2026 sale. The price per room sits at about USD 99,000 against a 2019 conversion that cost USD 54 million.