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Article: The Procaccianti Group To Acquire the Westin Providence in Rhode Island; Company Plans to Spend Several Million to Upgrade and Add 200 New Guest Rooms.
- Article from:
- Business Wire
- Article date:
- December 22, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PROVIDENCE, R.I. -- Officials of the Procaccianti Group (TPG), a New England-based, full-service, privately owned hotel ownership, management and construction company, today announced that it has been selected as the winning bidder for the acquisition of the 364-room Westin Providence in Rhode Island from the Rhode Island Convention Center Authority.
The company plans to perform improvements to the existing hotel and invest between $40 million and $60 million to expand the hotel by 200 guest rooms on the adjacent vacant land, bringing the room total to 564. Additionally, the company will build a mixed use development containing street level retail, several floors ...