 During a severe local recession in 1985 the 36-year-old hotel, still the second largest in Houston but by then in need of extensive refurbishing and refitting, was in effect donated to the Texas Medical Center.In March 1986 a protest rally was held by historic preservationists including McCarthy and the hotel opened its last annual St Patrick's Day party to the public.That evening, some people who had been at the opening night party in 1949 reportedly attended a semi-formal event in the hotel's Emerald Room.