The bankrupt owner of the Wardman Park Hotel in Washington will sell the century-old property to developer Carmel Partners Inc. for $152.25 million following court approval of the deal.
Judge John T. Dorsey of the U.S. Bankruptcy Court for the District of Delaware approved Wardman Hotel Owner LLC’s Chapter 11 sale Thursday, a day after a Carmel affiliate submitted the winning offer at a bankruptcy auction.
The Woodley Park hotel and conference center, which has hosted numerous presidential inaugural balls since opening in 1918, filed for bankruptcy in January, listing between $100 million to $500 million in liabilities.
The hotel, ...
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