Hotel Providence Sold for $10,250,000

Hotel Providence Sold for $10,250,000

Hunter Advisors announced the sale of Hotel Providence.

 

The sale price was $10,250,000, and the buyer was Pramukh Hotel Providence RE LLC, which is managed by hotel investor Raj Patel.

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The independent boutique hotel is located in the heart of Downtown Providence’s Arts & Theatre District on Mathewson Street.

 

The transaction was brokered by Spencer Davidson, Senior Vice President at Hunter Advisors. 

 

“Hotel Providence has been a fixture in the downtown market for years, and we’re pleased to have represented its sale to a local buyer,” said Spencer Davidson, Senior Vice President at Hunter Advisors, who brokered the deal. “There was meaningful interest in the opportunity, which speaks to the strength and resilience of the Providence lodging market. We’re confident the new ownership is well-positioned to continue the hotel’s success. This transaction also marks our second hotel sale in the Providence market within the past two years, further reinforcing our team’s experience and relationships in the region.”

 

Originally dating back to 1882 and restored into a boutique hotel in 2005, the 80-room, seven-story Hotel Providence occupies a prominent corner within the Downtown Providence Historic District. The property integrates three historic buildings and offers approximately 5,498 square feet of meeting and event space, Backstage Kitchen + Bar, outdoor event areas, and a fitness center. Distinctive guestrooms, spacious suites, and preserved architectural details contribute to the hotel’s boutique identity.