"Oh how the mighty have fallen."

From this week's Crains... Full Article Here
Doran never dreamed that the so-called “Pink Palace” of Dearborn would later set an eye-popping low sale price in 2010, selling for $3 million in a sale forced by Ritz-Carlton.

When the hotel last changed hands, in 1998, its sale price was $64.8 million, still far less than the estimated $100 million it would cost to replace the property.

A group of investors from Houston pooled $3 million and purchased the hotel in April with Denver-based Greenwood Hospitality Group to handle a transition of the property to its new name: The Henry.