 |
|
| |
News » Hotel foreclosure could delay expo center
June 4, 2012
The leader of the push to build an exhibition center in downtown Appleton is hoping the foreclosure proceedings for the Radisson Paper Valley hotel move quickly.
The owner of the hotel, and the Holiday Inn Riverwalk in Neenah, defaulted on a balloon payment for its loan for the two properties.
Walter Rugland was the chair of a coalition that studied the feasibility of the center. He says they've been negotiating an agreement for the hotel to run the facility, but they'll have to hold off now, until the ownership situation is resolved.
If someone buys the hotel, Rugland says they would be "out of their mind" to pass on a deal to run the center. He says a number of models show how much the hotel would benefit from bringing in larger conventions.
The foreclosure isn't impacting the day-to-day operations at the two hotels. |
|
|
|
