APPLETON, WI (WTAQ) - If you're in the market for a big hotel, the Radisson Paper Valley Hotel is up for sale.
The hotel was listed on Auction.com Tuesday. The minimum bid was listed as $7.5 million.
The Paper Valley is currently owned by a group of investors that once held the property’s mortgage. Those investors bought the hotel in early 2013 after a previous owner defaulted on the mortgage.
City leaders tell FOX 11 the sale is a step forward for investors to move ahead with the future Fox Cities Exhibition Center.
“We have expected a sale of the hotel from day one, so this event is no surprise and is consistent with our planning,” said Appleton Mayor Tim Hanna.
Last month, Paper Valley announced it had completed over $1 million in upgrades to the hotel.
(Additional reporting from FOX 11).