The Ehmer Group has sold the Hilton Milwaukee River Hotel, with the sale closing June 9.
Richard Ehmer, president of the Ehmer Group, brokered the transaction. The buyer, a Delaware-based investment group consisting of several Canadian-based and domestic hotel operators, purchased the 164-room full-service Hilton for nearly $7 million.
They buyer plans to spend $8 million to renovate and convert the property to a Holiday Inn. The Hilton license expired in June of this year, and the hotel will operate independently as the Milwaukee River Inn until the Holiday Inn conversion is complete.