The Baker Hotel and Spa — a 90-year-old historic structure in Mineral Wells — has been purchase by Dallas- and Austin-area businessmen with plans for a three-year, $65 million renovation of the property, according to a news release.
The seven owners and developers plan to restore the 14-story hotel and reopen the property as a luxury resort in 2022, the release said.
The Bake opened in the midst of the Great Depression and cost $1.2 million to build in 1929.
