Future of downtown hotel still uncertain - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

Future of downtown hotel still uncertain

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Eau Claire (WQOW) - The future of a troubled hotel is still hanging in the balance.

Singh Brothers Properties, or SB Hotel Management, has failed to come up with the money to buy the Ramada Inn back. 

Last month, the company had the highest bid in a sheriff's auction, $1.4 million. It has owned the Ramada since 2004, but ran into financial problems, and has been sued by their lender.  The company put down $147,000, which was a little more than the required 10 percent.

The rest of the money was due in early August and that deadline was not met, so it lost the down payment.  The hotel will go on the auction block again on September 17th. We asked the city what it hopes will happen next. 

Eau Claire City Manager, Russ Van Gompel, says, "We don't really care who comes forward, we just want somebody that will come in, be successful, have a property that's managed well and that we all can be proud of. I've heard stories about service not being the greatest and those type of things. But, when we have guests visiting our fine city we want a property that people will be pleased to stay downtown."

Whoever has the highest bid will need to put down 10-percent, unless it's SB Hotel Management.  That company would be required to put down 25-precent.

The city says right now the hotel is currently up to date on all city codes.

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