The Red Lion Paper Valley Hotel is filing for bankruptcy to reorganize debt.
The holding company for the downtown Appleton hotel is now going through Chapter 11 proceedings, but General Manager Linda Garvey says the move won’t impact hotel operations. She says the filing is only for the hotel and it’s not linked to the Fox Cities Exhibition Center. The Paper Valley has a contract to run the Exhibition Center. Revenue from the hotel room tax is being used to pay for the expo facility.
Garvey says the hotel’s finances have been grouped with 10 other properties and now they’ll be on their own. She believes that’s a really good thing and it will help them pay off their debt faster.
The owners of the Paper Valley, Inner Circle Investments, started a major renovation project at the hotel more than a year ago.
