WARWICK – The 160-room Hilton Garden Inn Providence Airport/Warwick has been purchased by MCR Development LLC, the seventh-largest hotel owner in the U.S.
The purchase price was $19.1 million. The hotel, built in 2004, was sold by Jefferson Hospitality LLC, according to property records. The most recent assessed value, for the 2018 tax year, was $10.3 million.
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The New York-based MCR has 94 branded hotels in 24 states and a portfolio worth $2 billion.
The Hilton Garden Inn is within walking distance of the T.F. Green Airport and adjacent to the Iron Works Tavern.
In a news release on the sale, MCR noted the airport has added six new carriers and overseas routes in the past eight years and had 8 percent more passengers this year.
“Rhode Island may be the smallest state, but it has one of the best airports,” stated Tyler Morse, CEO and Managing Partner of MCR.
Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.
