- Associated Press - Wednesday, May 20, 2015

APPLETON, Wis. (AP) - A Florida company has an agreement to buy a hotel in downtown Appleton.

Post-Crescent Media (https://post.cr/1GoMnAJ ) reports Ormond Beach, Florida-based Inner Circle Investments has a contract to purchase the Radisson Paper Valley Hotel. The purchase price has not been released.

Appleton Mayor Tim Hanna said Tuesday that the company is willing to invest a “significant amount of money” to modernize the hotel. He says the company also wants to negotiate an agreement to manage the proposed $27 million Fox Cities Exhibition Center that would be across the street from the hotel.

According to Hanna, the sale will close within the next two weeks.

The company owns and manages hotels throughout the U.S., and many are part of the Radisson brand.

The newspaper says the Appleton hotel was built in 1982.

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Information from: Post-Crescent Media, https://www.postcrescent.com

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