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Paper Valley thriving, despite ownership change
Ownership of the Radisson Paper Valley Hotel in downtown Appleton is changing hands, and the head of the local convention and visitors bureau says she's confident that the facility will remain profitable.
The hotel was sold to an investment company during a foreclosure sale for nearly $18 million, earlier this month. The former owner, Watermark Hotel Investors, failed to make a balloon payment, at the end of a mortgage.
Pam Seidl is the executive director of the Fox Cities Convention and Visitors Bureau. She says the Radisson Paper Valley Hotel is a strong property, and she had no doubt that it would get through the ownership change.
The hotel could be sold again soon, to another hotel operator, but Seidl says she's confident that the Paper Valley is strong enough to weather that change too, if it happens.
The ownership situation is holding up the proposed Fox Cities Exhibition Center. The plans call for the hotel to run it, and local leaders need to work out an agreement, before they can move forward.
The sale also includes the Holiday Inn Neenah Riverwalk.
The hotel was sold to an investment company during a foreclosure sale for nearly $18 million, earlier this month. The former owner, Watermark Hotel Investors, failed to make a balloon payment, at the end of a mortgage.
Pam Seidl is the executive director of the Fox Cities Convention and Visitors Bureau. She says the Radisson Paper Valley Hotel is a strong property, and she had no doubt that it would get through the ownership change.
The hotel could be sold again soon, to another hotel operator, but Seidl says she's confident that the Paper Valley is strong enough to weather that change too, if it happens.
The ownership situation is holding up the proposed Fox Cities Exhibition Center. The plans call for the hotel to run it, and local leaders need to work out an agreement, before they can move forward.
The sale also includes the Holiday Inn Neenah Riverwalk.
