The Park Inn and Suites Hotel located off of HWY 37 in Eau Claire will soon have a new owner and name.
The former owner defaulted on a $4.6 million dollar loan. At Tuesday's Sheriff's foreclosure sale, the hotel was sold for an even $4 million dollars to Mike Rivers, who also owns the Plaza Hotel.
Rivers says he did not plan on buying the hotel, but he says the price was right.
He plans on making a few changes to the place once he takes over, including a new kitchen.
Rivers says he'll also change the name of the hotel. The change of ownership is expected to happen sometime in mid-September.