Home Real estate Wilmington Courtyard on the auction block

Wilmington Courtyard on the auction block

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Wilmington Courtyard on the auction block
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A downtown Wilmington hotel is  up for auction.

A listing for the Courtyard by Marriott Wilmington indicates that an online auction will take place from  Feb. 28 to March 2.

The 10-story 126-room Courtyard by Marriott is located at 
1102 N West Street.
 
The minimum bid for the hotel is  $4.7 million.
 
The last hotel auction resulted in a $19.5 million purchase  for the Sheraton South hotel in the New Castle area, off I-95.
 
New Castle County was the successful bidder for the property, which was converted into the Hope Center which houses and provides services for the homeless.
 
Downtown hotels in many cities have been hit by the lack of business travel during the Covid-19  pandemic.
 
Leisure travel, especially at the Delaware beach, recovered during the summer of 2020.
 
Conducting  the auction is 10-X, with SVN Real Estate affiliates serving as agents.
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