APPLETON, Wis–The city of Appleton reaches an agreement with the owners of the Hilton Paper Valley Hotel to continue operations of the Fox Cities Exhibition Center.
A memo of understanding between the two parties outlines a proposed contract that would see the city collect up to six percent of gross revenue from the expo center to create a capital reserve fund for future repairs and improvements. The city would also retain all asset control and potential naming rights deals.
Driftwood Hospitality Management would assume all risk for operating losses, but would also be freed from all free-use requirements, be allowed to use flexible, market-based pricing, and to sign exclusive vendor contracts for the expo.
The length of the proposed contract is five years. The Appleton Finance Committee will consider the measure tonight (Monday).
