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By PBN Staff
PROVIDENCE – The Procaccianti Group has agreed to sell the Westin Providence Hotel to Omni Hotels & Resorts in a deal that is expected to close in December, the two companies announced early Friday evening.
The 564-room Westin is Rhode Island’s largest hotel and is connected to both the R.I. Convention Center and Providence Place mall. No price was given for the transaction, although the companies did note that Procaccianti will retain ownership of the Residences Providence, the condominium/apartment complex that occupies the upper floors of the 31-story tower that was completed in 2007 and which added 200 rooms to the Westin property.
Although Procaccianti could not be reached for comment late Friday, the company had told Providence Business News in March that 89 percent of the units in the Residences were occupied by owners or renters.
“We are pleased to add this premier property to our convention center hotel portfolio,” said Mike Deitmeyer, president of Omni Hotels & Resorts, which will re-brand the property as an Omni hotel. The companies said that Procaccianti will provide consulting services related to management and operations of the hotel,” which is part of a nearly 700,000-square-foot mixed-use development that includes three restaurants, retail and a health club.
Omni owns and/or operates 50 hotels and resorts across North Amercia, while Procaccianti recently was ranked the No. 2 hotel owner/developer in the United States by Hotel Business magazine.