Michael Waits was the father of the Waits family. He took them on a vacation to Nilbog, where they encountered the Goblin population. Waits initially didn't believe his son about the true identity of the town's population, but he was eventually convinced once one of their kind was accidentally killed and revealed. ("Troll 2")
He's slated to reappear, portrayed by the same actor, in Goblin 2.