The property was then left vacant for a number of years until 1981 when Steven and Peggy Allman purchased it along with the neighboring building that was part of the Snyder complex and became the restoration. They originally opened the Inn in the 1927 built structure with wide verandas, but shortly after opening the Inn, a guest's cigarette set the Inn on fire, destroying it within two hours. They then turned to the original structure of the sanitarium built in 1919 and created it into a 27-room hotel that opened in November 1984 and a year later the property received its Texas Historic Landmark Status. The Inn changed ownership to a trust established by Norman Brinker of Brinker International and in 1993 the property underwent more renovations which made the Inn into 24 rooms with an expansion of the kitchen area, a lobby remodels and landscape changes.
In 1998, Ernest W JR & Shirley A Reinke purchased the Inn and focused their attention on hosting corporate retreats and business meetings. After 17 years of operating the Inn on the River, they sold to Michael & Lorraine Linnabery in December of 2015. Lorraine had fond memories of being a server in the dining room while she was in high school and Mike loved hosting the guests to the Inn during their tenure. In June of 2019, the Inn gained its 5th owner since 1981 and is now owned by Pamela Streeter.