Hunter Advisors has been exclusively engaged to present the opportunity to acquire the fee-simple interest in the 80-room, 7-story Hotel Providence (the “Hotel”), located at 139 Mathewson Street. Situated in the center of Downtown Providence’s Arts & Theatre District, the Hotel offers exceptional walkability to the city’s leading demand drivers including the Rhode Island Convention Center, cultural attractions, major academic institutions, and leading medical facilities. The property has a storied past dating back to 1882 and was transformed and restored into a hotel in 2005. The independent boutique Hotel presents a new owner with tremendous upside potential through numerous value-add initiatives.
- Historic, architecturally rich property dating back to 1882
- Privileged location just off Westminster Street, Providence’s most vibrant pedestrian corridor
- Walking distance to the Providence Performing Arts Center, the Amica Mutual Pavillion, and the Rhode Island Convention Center
- Proximate to the city’s strongest institutional demand generators including Johnson & Wales University, Brown University, Providence College, Rhode Island College, Roger Williams Medical Center, and Rhode Island Hospital
- Property amenities include 5,498 square feet of indoor meeting and event space, additional outdoor event areas in the first-floor courtyard and second-floor terrace, the full-service Back Stage Kitchen and Bar, and a fitness center
- Unencumbered of management
- Situated in a high-barrier-to-entry market with no new supply under construction
- Offered at a discount to replacement cost
- Significant value-add potential
- Blank-canvas repositioning opportunity
- Branding optionality
- Management upside
- Reconcept and activate the F&B offering and meeting and event space
