Former Upscale Detroit Hotel Gets New Owner
DETROIT (WWJ/AP) - A lawyer says a 25-story Detroit hotel that once was an upscale attraction has a new owner who plans to renovate it as a Crowne Plaza hotel.
David Findling is the court-appointed receiver who has controlled downtown’s former Hotel Pontchartrain since 2009 after the building went into foreclosure. He told The Detroit News that the sale closed last week, although he didn’t disclose the sale price.
Findling would only say that the buyer is a University of Michigan graduate who has been in involved in about 40 hotel development deals. He said work on the building is expected to begin this summer.
Built in 1965, the hotel near Cobo Center last operated as the Detroit Riverside Hotel. Details of renovation plans weren’t immediately released.
TM and © Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press contributed to this report.