A few years ago, I was working as a catering manager of a local historic hotel. The hotel had been in terrible condition for many years until a group of investors purchased it and began the long arduous process of renovation. They were able to get the majority of it renovated before the funding started to run out, at which time they opened for business to offset some of the costs of ownership. As a result, all of the rooms, lobby and ballroom were completely renovated, while the restaurant was still in a sorry state.