Jones Lang LaSalle Americas, Inc. offers, on an exclusive basis, the fee simple interest in the 80-room Hotel Providence. Dating back to 1882, the Property was transformed and restored into a boutique hotel in 2005. The Hotel features 80 guestrooms, an off-site parking lot, a restaurant and bar, a business center, a fitness room, and 5,500 square feet of flexible meeting and event space (including multiple outdoor spaces).
The Hotel is ideally located in Providence, Rhode Island just off Interstate 95. Located in the center of downtown Providence’s Arts and Theatre District, the Hotel is steps from unique boutique retail shopping, culturally significant theaters, world-class educational institutions, major corporations, and a state-of-the-art convention center. Providence benefits from a diverse set of corporate, educational, and leisure demand generators including Citizens Financial Group, Brown University, Johnson & Wales University, the Rhode Island Medical Center, and the Providence Place Mall.
The Hotel Providence offers investors the opportunity to acquire a hotel with significant upside. Value-add opportunities include branding and management, renovations, F&B leasing, and weddings. The Hotel is being offered unencumbered by management.
Investment highlights
- Downtown Providence Location
- Historic Boutique Hotel Product with Off-Site Parking Lot
- Brand Flexibility, Unencumbered by Management
- Recovering Performance
- Compelling Basis, Discount to Replacement Cost
- Value-Add Opportunities
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