Meet the New Ramada Owners, Same as the Old Ramada Owners

Tom Giffey |

They’ve been foreclosed on and have filed for bankruptcy, but the owners of the Ramada Convention Center in downtown Eau Claire somehow keep hanging on. The hotel, 205 S. Barstow St., was the subject of a sheriff’s sale on July 2, and after a low-key auction in front of a curious crowd at the Eau Claire County Courthouse, the current owners bought the hotel … again. The owners (Amarjit, Surinder, and Kanwal Singh) and the financing company that had foreclosed on them last year (Dougherty Funding LLC) were the only bidders, and the Singhs had the winning bid of $1.41 million. That’s a bit less than the $1.66 million the owners originally owed Dougherty Funding. Later that day, Minneapolis-based Singh Brothers Properties Inc. paid the necessary 10 percent down payment to the Clerk of Court’s office. Under the name SB Hotel Management Inc., the Singhs have owned the hotel since 2004. That company filed for bankruptcy in March, and according to the Leader-Telegram the hotel is now being operated by a court-appointed receiver, S&L Hospitality of Verona. (The turmoil explains why the Taste of India restaurant in the hotel was shut down in May, and why the facility temporarily lost its liquor license.) In addition to its financial woes, the hotel has had a host of maintenance problems, including “a leaky roof and basement, outdated heating and cooling system, and cracks in the brick façade,” the Leader-Telegram reported. And that’s not all the owners have to overcome: According to the L-T, while the building still carries a Ramada sign, the Ramada chain itself has severed ties with the hotel. (You can’t even make reservations through the Ramada website anymore.) Considering the financial, physical, and marketing problems, winning the auction only bought the hotel owners some time: The Singhs will have to pay the rest of the $1.41 million purchase price by the time a July 24 court hearing rolls around.