Location: Providence Airport, Warwick, Rhode Island, USA
Name: Radisson Providence Airport
No. of Keys: 112
The Property: Built in 1989 with a US$2.5m renovation just this year – a full-service hotel and now offers the newest rooms product in its competitive set, requiring minimal change of ownership PIP expenses for a new owner. Additionally, it provides the compelling upside in revenue management and operational efficiencies.
The hotel is strategically Located Off Interstate 95, which is adjacent to TF Green Airport and the Interlink.
Being located so close to downtown Providence allows the Radisson to benefit from the capital of Rhode Island’s vast demand generators. The bustling city’s cultural, culinary, and historical attractions, internationally renowned colleges and universities, and notable corporations.
The hotel operates a courtesy 24 hour airport shuttle bus. They have 11,000 sqf of meeting space, which can accommodate up to 350 people. The fitness centre is well-equipped.
The hotel will be auctioned using the RealINSIGHT Marketplace platform. The Auction will be held on Monday, November 18, 2019–Wednesday, November 20, 2019.
Main Photo: The entrance to the hotel
Brand/Management: Flag committed but management free
Financials: Full financials available upon signing a NDA and LOI
Current Owner: Private family
Agent: The Hotel Property Team
Guide Price: 264 Crs – Around US$37.2m or £29m
Date Posted: October 2019
THPT Comment: Only in the USA can one buy a hotel at an auction!
Contact us for further information
This is a new feature on the THPT site…. Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
Each fortnight we mail the opportunities posted that week, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.
MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.