The owner of the Radisson Paper Valley Hotel in Appleton and Holiday Inn Neenah Riverwalk has defaulted on a $27 million balloon mortgage payment, casting uncertainty on the future of the two properties.
The Radisson and the Riverwalk hotels will continue to operate normally, and the hotels’ 365 employees will keep their jobs, said Dennis Langley, a partner with Illinois-based Montclair Hotel Investors, which owns and manages the properties. All scheduled events and contractual obligations will be met, Langley said. That includes weddings and the Paper Valley’s contract to host NFL teams that are playing against the Green Bay Packers. For more, read today’s BizTimes Morning Headlines.
