Eau Claire Ramada sold at auction for $1.4 million

EAU CLAIRE, Wisc. (WEAU) - The Ramada Inn Convention Center in Eau Claire was sold Tuesday for $1,410,000.
Singh Brothers Property Inc. Bought the building at an auction Tuesday morning. The Company must pay 10 percent of the total as a down payment.
The sale is set to become official July 24. The remainder of the cost must be paid by Aug. 3.
The family that owns Singh Brothers Property also owned S&B Hotel Management the company that was foreclosed on.

The company attorney Michael Happe says Singh Brother Property plans to completely remodel the hotel and bring in new management. He says the hotel will no longer be a Ramada Inn and they are looking for a new national chain to partner with.
Eau Claire City Attorney Steve Nick says he hopes this is a step in the right direction for the hotel.
“We’re hoping the property will become a positive part of the downtown and of course we need to expect that they will become up to code and promptly pay taxes and other bills,” Nick said.

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EAU CLAIRE, Wisc. (WEAU) - The Ramada Inn Convention Center in Eau Claire was sold Tuesday for $1,410,000.

Singh Brothers Property Inc. bought the building at an auction Tuesday morning.

Singh Brothers must pay 10 percent of the total as a down payment.

The sale is set to become official July 24. The remainder of the cost must be paid by Aug. 3.

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EAU CLAIRE, Wis. (AP) -- A downtown Eau Claire hotel will be auctioned off next week.

S.B. Hotel Management owns the downtown Ramada Hotel and Convention Center and owes more than $1.6 million to both their lender and Ramada.

The court has appointed another hotel operator to run the hotel until it's sold. Ramada Worldwide sent a letter to the temporary operator, saying it doesn't want the hotel in their chain anymore.

The new operators told attorneys they're gathering information on the cost of relaunching the hotel under a new name.

S.B. Hotel Management filed an appeal requesting postponement of the sheriff's auction on Tuesday. But a judge ruled the company would have to pay off its debt to avoid the sheriff's sale.


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