IDM Group to Manage Hotel Mead & Conference Center in Wisconsin Rapids

Now Owned by Balmoral Realty, LLC

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. March 18, 2011

FORT ATKINSON, WI - March 17, 2011 - Hotel Mead & Conference Center (www.hotelmead.com), a landmark hotel in Wisconsin Rapids, Wis., is now being managed by IDM Group, LLC (www.inndevmgmt.com), an established management and development group that specializes in independent boutique hotels and is based in Fort Atkinson, Wis. IDM Group was brought on effective March 1, 2011 by Balmoral Realty, LLC Property Management Company of WoodTrust Bank who holds the hotel in foreclosure after the previous owners were unable to make real estate and room tax payments. The hotel has remained open throughout and will remain open with no disruption in service as a buyer is sought. Along with Hotel Mead, IDM Group provides management services to the historic Hotel Julien Dubuque in Dubuque, Iowa, the Delafield Hotel in Delafield, Wis., and Jefferson Street Inn in downtown Wausau, Wis., among others.

Hotel Mead, with its distinctive soaring architecture, was originally built in 1951 by Consolidated Papers. In 1979 an east tower was added and in 1998 a west wing. It is located at 451 East Grand Avenue on the city's east side. The property includes 154 guest rooms and suites, meeting and special event facilities, two on-site restaurants, and pool and fitness center. Hotel Mead currently employs 86.

According to IDM Group co-founder and president Craig Neddersen, Hotel Mead is a property that has his company's respect. “We're fortunate to be entrusted with operating this hotel. Consistent with the other boutique hotels we manage, Hotel Mead is a fixture in the community and a definite draw for leisure and business travelers,” said Neddersen. “We have every intention to build on the hotel's fine reputation, working alongside the experienced staff, so it may continue to be a point of pride for the community.”

Balmoral vice president Jeff Gellerman said hiring IDM Group is a positive signal that “guests and meeting planners will receive the kind of excellent service expected from a property like this,” and that “it's a big step in the right direction for this hotel which is a vital part of our community.” Since becoming the court-appointed receiver, Balmorel has satisfied all outstanding tax obligations, with no new tax payments due until the end of 2012.

About IDM Group
IDM Group is the leading purveyor of boutique hotel development and management services in the Midwest. It offers clients expertise in acquisition, development, repositioning and management. In every community in which it has a presence, theirs is the leading property.

Its portfolio includes historic downtown properties like the Hotel Julien Dubuque in Dubuque, Iowa; lake vacation inns such as the Edgewater Resort on Wisconsin's Door County peninsula; and newly developed hotels including the Jefferson Street Inn in Wausau, Wis. and The Beloit Inn in Beloit, Wis. Most recently coming under IDM Group's management is The Delafield Hotel in Delafield, Wis.

IDM Group may be found online at www.inndevmgmt.com.