The latest acquisition by Buccini Pollin Group brings the company’s total number of hotel rooms developed or acquired since 1993 to 7,600.
BPG’s latest purchase is the 302-room Sheraton Hotel at the Dallas/Fort Worth Airport. The company acquired the hotel for $46 million. The company already owns the DoubleTree hotel at the airport. “The Dallas/Fort Worth marketplace continues to hold great interest for us as we further expand our portfolio of full-service hotel,” said Dave Pollin, co-founder of BPG.
The hotel, which is located near Texas Motor Speedway, Six Flags over Texas and AT&T Stadium where the Dallas Cowboys play, recently received a $7 million upgrade. It will be operated by PM Hotel Group, a national hotel management company based in Washington, D.C.
Earlier this year, BPG acquired the historic 217-room Hotel du Pont in downtown Wilmington. The addition of the Hotel du Pont to BPG’s holdings is another sign of its ongoing investment in downtown Wilmington. The company is in the middle of constructing numerous projects in the city, including the major overhaul of what was once a parking garage on Orange Street between 8th and 9th Sts.
The company is also developing its second hotel at the Wilmington Riverfront. The 120-room Homewood Suites is currently in planning stages.
According to the company, BPG’s real estate assets are worth more than $4 billion and include 36 hotels, plus six million square feet of office and retail space. They also own PPL Park in Chester, Pennsylvania, which is home of Major League Soccer’s Philadelphia Union.