January 31, 2017 Acquisitions, Hotel
Story: Joseph N. DiStefano
Wilmington-based developer and hotelier Buccini/Pollin Group has agreed to acquire the struggling city’s landmark Hotel du Pont from DuPont Co.
Buccini/Pollin’s PM Hotel Group will continue to run the 217-bed hospitality complex, with its ornate Gold Ballroom and fancy Green Room restaurant, under the Hotel du Pont name. The parties declined to disclose terms of the deal.
The property transfer, scheduled to close Feb. 28, will end the last of DuPont’s former headquarters operations in its longtime hometown, as the company consolidates to suburban offices in preparation for its merger with Dow Chemical Co. DuPont says it’s also looking for buyers for its country club and three golf courses near its recently consolidated headquarters and labs just west of the city.
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