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Investors Buy Fox Cities Hotels With 497 Keys

APPLETON, WI-The partnership buys the 390-room Radisson Paper Valley Hotel here and the 107-room Holiday Inn Riverwalk in nearby Neenah.

By Danielle Anderson | Updated on January 17, 2007

APPLETON, WI-A partnership led by affiliates of two Chicago-area firms has acquired two full-service hotels totaling 497 keys in the Fox Cities area of Wisconsin. The group, which includes Lake Forest, IL-based Watermark Capital Partners LLC and Chicago-based Montclair Hotel Investors Inc., purchased the 390-room Radisson Paper Valley Hotel here and the 107-room Holiday Inn Riverwalk in nearby Neenah.

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.

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