A Chicago-based hospitality company says it has purchased the Providence Biltmore Hotel for an undisclosed price.
In an announcement Monday, Adventurous Journeys Capital Partners says it is planning a renovation for the hotel as it will be converted into a Graduate Providence hotel by 2019. A spokesman for the company tells The Providence Journal the sale closed on the building Oct. 20.
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The 294-room hotel was built in 1922, and city tax records show the building has an assessed value of $26.2 million.
The president of Graduate Hotels says they plan to offer local residents a "dynamic community-centric gathering space" once the location opens.