In 1993, Steve Holtze, chief executive officer, forms the Stevens Holtze Corporation (now Stout Street Hospitality), whose primary mission is to renovate and remodel historic buildings in gentrifying urban areas. The Stevens Holtze Corporation later changes to Magnolia Hotel Management and purchases its first building, a vacant 85-year-old former bank building in the core of downtown Denver's business district. The property undergoes a multi-million dollar renovation and is restored to reflect its original appearance. The hotel opened in 1995 under the name Holtze Executive Place, later changed to the Magnolia Hotel Denver.
In 1997, after gaining a foothold in hotel management services, the company acquired the 29-story Magnolia Oil and Gas building, erected in Dallas in 1910. The company redeveloped the property, restoring the famous landmark Pegasus that sits atop the historically impressive structure. Opened in 1999, the building is the namesake for the Dallas Magnolia Hotel and all properties under the Magnolia name.
In 2003, the company purchased the historic former Post Dispatch Building in downtown Houston, the original headquarters for Shell Oil. The 254,000-square-foot, 22-story structure was built in 1926 and known statewide for its impressive features. After an extensive renovation, the Houston Magnolia Hotel opened in March of 2003, re-establishing the property as one of the area's most eye-catching structures.
In 2006, the management company purchased the Aquila Court building in downtown Omaha, Nebraska and began transitioning the property to the Omaha Magnolia Hotel. Constructed in 1923, the historic building was based on the Bargello, a palace in Florence, Italy and built in homage to Aquila's father George. The property re-opened after an extensive renovation in 2007.
In 2009, the management company was awarded a third party management contract for the LaSalle Hotel in Bryan-College Station, Texas. A 55-room boutique hotel located minutes from Texas A&M is now operating, after an extensive renovation, as The LaSalle Hotel by Magnolia.
In 2011, Magnolia Hotels Management changed its name to Stout Street Hospitality to reflect its revamped goals of strategically expanding the company to include branded hotels and resorts, franchise opportunities, construction, extended stay and its core product - historic, independent boutique hotels. This hotel management and development company will continue to operate Magnolia-branded properties under Stout Street Hospitality.