Radisson owner asks Village Board to move forward

Heyden says he wants to stay involved in hotel operations

Dec. 4, 2012

Menomonee Falls - James Heyden, a principal owner in the Menomonee Falls Radisson Hotel, made a plea to the Village Board on Monday to help resolve issues all surrounding the management and finances of the hotel once and for all.

Heyden said he purchased the hotel in 2003 and worked with the village in the creation of a tax incremental finance district that the hotel is located in on Main Street. Heyden's plea came after Village Attorney Randall Crocker gave an announcement at the Nov. 19 board meeting, where he and trustees vowed to keep the hotel open.

The hotel has been at the center of litigation during the past year after the village provided a $17.65 million loan to the owner Lodging Investors LLC, which did not make its first two debt payments. As a result, the village filed a foreclosure suit in summer. A court-appointed receiver, Seth Dizard, has been in charge of hotel operations and monitoring finances during the past year.

Heyden said he could not comment on any litigation he is also involved in regarding the hotel. He did say, however, that he "took in some partners in the project that have caused major problems."

"Today, those partners are gone, some have not come even come to the site in the last year and a half and couldn't care less about the project," he said.

For all intents and purposes, Heyden said he is the last owner standing in the group and is working with Crocker over hotel management and finance issues. Crocker could not be reached for comment before NOW's press deadline.

Heyden said new opportunities have arisen to move the hotel forward.

"I would urge the Village Board to select a member to sit in on the ongoing negotiations and get the hotel issue resolved," he said. "I feel with my continued principal effort, it will make this hotel asset a success that is achieved only by a concerned owner's 24/7 interest and effort."

The Village Board could not comment on Heyden's statements Monday because he spoke during the public comment portion of the meeting.

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