Tawas Bay Holiday Inn faces foreclosure

In the not-so-good-news-department, the Bay City times is carrying this article in todays edition: Tawas Bay Holiday Inn faces foreclosure

The 103-room resort hotel is in default on a mortgage of $2.65 million. A legal notice published in the weekly Iosco County News Herald states that the property will be sold to the highest bidder for at least the amount owed in a June 16 public auction.

Rumors that the Tawas Holiday Inn was having difficulty have been circulating for a while in the Tawas area, according to Ronald Leslie, East Tawas city manager. "There has always been rumors, but in talking with the (Tawas Bay) Associates, they've always said there is no problem," Leslie said.

The Tawas Holiday Inn remained open for business on Thursday.