Hilton Garden Inn Providence Airport/Warwick - Hotels

JLL’s Hotels & Hospitality Group, as sole and exclusive agent for the owner, has been retained to offer for sale the fee simple interest in the 166-room Hilton Garden Inn Providence Airport/Warwick (the “Hilton Garden Inn”, “Hotel” or “Property”). The Hotel enjoys a convenient, adjacent location to the T.F Green airport, while situated along Interstate 95 and U.S. Route 1. Moreover, the Hotel has superior access to the “Interlink” skywalk, 1,000 car parking deck, rental car facilities, and train station. In May 2024, T.F. Green International Airport (PVD) announced it will serve as a hub for the growing airliner Breeze Air ways by way of 35 additional routes, 400 jobs, and one million annual passengers over the next five years. Additionally, PVD ser vices American Airlines, Delta Airlines, JetBlue, Southwest, and United Airlines, among others. A side from the convenient location to the airport, the Hotel is within proximity to major demand generators in Rhode Island such as downtown Providence, RISD Museum, Brown University, Providence Performing Arts Center, and the Rhode Island Convention Center, among others.

The Hotel, which recently completed a $6M ($36K/key) comprehensive renovation in 2021, is offered unencumbered of management and debt. A new owner possesses the opportunity to bring in a new management company or operate internally and seek to revamp the operational strategy of the Hotel, implement strategic cost control initiatives, and employ more aggressive yield management strategies. By leveraging a refreshed Hotel product, a new owner should see a significant return on their investment by way of increased performance in both the top- and bottom-line. Additionally, the Hotel offers a unique selling point in that it is connected to the popular gastropub Iron Works restaurant. Offering American-inspired cuisine and local and national alcoholic beverages, a new Owner can leverage the restaurant as a way to attract guests traveling along the interstate, as well as from the T.F. Green airport. A new owner has the opportunity to acquire a recently renovated, premium-branded hotel, unencumbered of management and debt at a significant discount to replacement cost.