219-room hotel in Downtown Providence is sold to buyers who say they'll renovate it.

Patrick Anderson, Providence Journal

A New York hotel company and an Ohio investment firm have acquired the Courtyard Providence Downtown hotel and promise to renovate it.

DelMonte Hotel Group of Rochester, New York, and Rockbridge Capital of Columbus, Ohio, purchased the 219-room hotel on Exchange Terrace, the companies said in a news release Monday.

"We have exciting plans for the hotel, which includes a top to bottom renovation of the asset," said Alexander DelMonte, president and CEO of DelMonte said in the release. “With over 50 years of hospitality experience, DHG has a proven track record, and we look forward to continuing our expansion into new markets."

Terms of the sale were not disclosed.

The Courtyard Providence Downtown, built in 2000, has been purchased by buyers who say they plan to renovate it.
The Courtyard Providence Downtown, built in 2000, has been purchased by buyers who say they plan to renovate it.

The Courtyard by Marriott branded, 130,000-square-foot hotel across the street from Burnside Park was built in 2000. It had an assessed value of $20 million, according to the Providence Assessors database.

DelMonte operates a portfolio of hotels, including Marriotts and Hiltons in New York, Ohio, Pennsylvania, and Tennessee. The Courtyard Providence Downtown is its first venture in Rhode Island.

DelMonte "plans to refresh this ideally situated property in the coming years," the news release said.

This article originally appeared on The Providence Journal: Courtyard Marriott Downtown hotel has 2 new owners planning renovations

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