Rooms were originally available at what seemed a very cheap price, leading many other hoteliers to predict the failure of the Buffalo hotel. The opening night price was as low as $1.50 for a guest room, leading to the slogan "A Room and a Bath for a Dollar and a Half." The hotel had a line of credit available of $500,000, but was so successful from the beginning that Statler never touched the line of credit. The Hotels Statler Company, Inc., was sold to Conrad Hilton's (Hilton Hotels) in 1954 for $111,000,000 in what was then the world's largest real estate transaction. (Source: Wikipedia)
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