The iconic Prospect Historic Hotel, a cherished destination for visitors to Crater Lake National Park, is set to be auctioned on Monday at the Jackson County Courthouse. The auction will begin at 1 p.m. local time at 100 S. Oakdale, Medford. This historic property, encompassing 5.6 acres at 391 Mill Creek Drive in Prospect, includes a Victorian-era house that once served as a stagecoach stop and roadhouse.
Over the years, the hotel has evolved into a resort favored by travelers, food enthusiasts, and outdoor adventurers engaging in activities like hiking, birdwatching, and classic car rallies. The property, which was last sold for $2.8 million in October 2024 to Prospect Collective LLC, closed less than a year later in July following a foreclosure by lender ThorMar LLC due to nonpayment.
Eli Braden, who claimed ownership of the hotel alongside his wife, Brianna Braden, cited a depletion of funds as the reason for the closure. Compounding these issues, the hotel’s former accountant, Andrea Annette Riegelman, was indicted on charges of first-degree aggravated theft and first-degree forgery. Riegelman has pleaded not guilty to allegations of stealing at least $10,000 from the hotel via fraudulent checks.
ThorMar has announced a minimum bid of approximately $1.7 million for the auction, which will cover the loan principal, interest, property taxes, and various fees. Randy Thornton of ThorMar stated, “We do not want to run a hotel, but we’re resigned to do what we can until we find a buyer.” He added that if the hotel does not sell, he and partner Rob Marken plan to reopen it the following day.
This chapter in the hotel’s history is marked by both struggles and aspirations. Fred and Karen Wickman, longtime hotel owners, expressed their hope for the establishment’s revival. They indicated that they wish to see the hotel continue its legacy and are willing to consult with the new owners. “The hotel needs to come back to life for the benefit of the town and the employees,” Fred Wickman noted in an email, emphasizing the importance of finding a dedicated owner.
The hotel’s operations were listed for sale in June 2024 at a price of $3 million. The main building, a three-story structure totaling 5,492 square feet, features a 10-room bed and breakfast and a 50-seat restaurant, all nestled within park-like grounds rich with evergreen and deciduous trees, including a giant sequoia. In addition to the main house, the property boasts 14 motel rooms and a two-story log house constructed in 1990.
The log house, which includes a wraparound deck and detached garage, is positioned on a separate tax lot and is suitable for various uses, including vacation rentals or employee housing. The land, with its grandfathered water rights, is located adjacent to Mill Creek, providing access to both Mill Creek Falls and the Rogue River. Additional structures include a large gazebo with barbecue pits and a barn near a fenced corral.
Previously, Riegelman indicated that the new owners intended to uphold the hotel’s traditions while introducing themed experiences. The hotel has long hosted weddings and community events, and the new management sought to expand on programs like Music in the Mountains concerts. Despite the challenges, the partners had backgrounds in hospitality, marketing, and culinary arts, although they lacked direct hotel management experience.
The Prospect Historic Hotel has deep roots, dating back before Crater Lake was designated a national park in 1902. Originally a Victorian house built by Albion Boothby and his wife, Jennie, the property transitioned into a lodging and dining facility. The hotel gained international acclaim under the ownership of the Grieve family from 1912 to 1978.
Over the decades, the building has been carefully restored, allowing it to maintain its historical significance while providing modern amenities. The hotel was officially listed on the National Register of Historic Places, and all repairs were executed to meet historic registration standards. “Drive an hour out of Medford on Oregon Highway 62, and step back in time 100 years,” said Fred Wickman, reflecting on the hotel’s enduring charm and legacy.
As the auction approaches, the fate of the Prospect Historic Hotel hangs in the balance. Potential buyers are encouraged to reach out to Alison Hohengarten, the attorney representing ThorMar, for further information. The auction represents not just a financial transaction but a chance to revive a beloved institution that has served as a refuge for weary travelers for over a century.
