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Article: The Procaccianti Group -TPG- Completes Acquisition of the Westin in Providence; $80 Million Upgrade Will Create First Condo Hotel in Rhode Island.
- Article from:
- Business Wire
- Article date:
- April 27, 2005
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Copyright informationCOPYRIGHT 2005 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. -- The Procaccianti Group (TPG), today announced that it has completed the acquisition of the 364-room Westin Providence in Rhode Island from the Rhode Island Convention Center Authority. TPG is a New England-based, full-service, privately owned hotel ownership, management and construction company. The broker for the deal was Matt Kenney at Pinnacle Realty Investments.
The company plans to spend several million dollars upgrading the existing hotel to further improve its competitiveness. The company also will invest approximately $80 million to construct a 28-story mixed use tower with an additional 200 guestrooms on the adjacent vacant land, bringing the ...
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