Michael G. Medzigian, chairman of Watermark Capital, says that operating partner Montclair managed the hotels for the previous owner for a number of years and therefore was very familiar with the assets. "They are stable, strong properties in a buoyant market," he says, adding that Appleton is often rated as one of the top mid-size cities for businesses.
Medzigian declined to discuss the price paid for the two hotels. Located in Downtown Appleton, Radisson Paper Valley Hotel is full-service conference hotel. It also is home to the Vince Lombardi Steakhouse and host to all National Football League teams that visit the Green Bay Packers at Lambeau Field. The Holiday Inn Riverwalk, in Downtown Neenah, is a full-service property with 11,100 sf of meeting space.
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