WILMINGTON, DE—The Buccini/Pollin Group (BPG) and DuPont entered into an agreement for BPG to acquire the historic Hotel du Pont. The ownership transition and closing are expected to occur on Feb. 28. Terms of the agreement were not disclosed.
The hotel will continue to operate under the Hotel du Pont name, with all of its amenities, including the Green Room restaurant and Gold Ballroom. BPG’s hotel management affiliate, PM Hotel Group, will operate the hotel.
BPG, a local, full-service real estate company, recently acquired the DuPont Building that houses the hotel. BPG will unveil its comprehensive restoration plan for the hotel in the near future, and will begin several targeted capital improvement projects upon closing of the acquisition.
“We are extremely proud that DuPont has entrusted The Buccini/Pollin Group and PM Hotel Group as stewards of this great hotel,” said David B. Pollin, co-founder and co-president of The Buccini/Pollin Group. “We see ownership of the Hotel du Pont as a public trust and will work with the Wilmington community to ensure its next 103 years are as—or more—successful as its first 103 years. We expect the transition in ownership and management will be seamless for the hotel’s guests who can continue to expect a premier experience at a premier venue.”
The 217-room Hotel du Pont opened in the heart of downtown Wilmington in 1913 to serve the local business community. Its guests have included U.S. presidents and other world leaders, first ladies, religious leaders, world-renowned musicians, artists and actors, professional athletes, and countless local tourists and business professionals.
Separately, DuPont will initiate a process to explore a potential sale of the DuPont Country Club.