(b) The Board may issue the license to the owner of a hotel that:

(1) is in a building at least three stories tall that was originally constructed for hotel purposes;

(2) has a capital investment of at least $500,000; and

(3) contains:

(i) at least one passenger elevator;

(ii) at least 100 rooms for the accommodation of the public; and

(iii) a dining room with facilities for preparing and serving regular meals for at least 125 individuals at one seating.

(c) The license authorizes the license holder to sell beer, wine, and liquor at retail at a hotel or restaurant at the place described in the license, for on- or off-premises consumption.

(d) The annual license fee is:

(1) $1,250, if the licensed premises remains open until midnight; or

(2) $2,250, if the licensed premises remains open until 2 a.m.