Price for Providence Biltmore revealed to be $43.5 million

PROVIDENCE, R.I. – Records show a Chicago-based hospitality company paid $43.5 million to purchase the Providence Biltmore Hotel.

The Providence Journal reports the price was revealed in online deed records recorded Wednesday. Adventurous Journeys Capital Partners had announced the purchase earlier this week, but they declined to disclose the price.

The company says it is planning extensive renovations to the property as it will be converted into a Graduate Providence hotel by 2019. A spokeswoman said Thursday the iconic “Biltmore” sign will stay.

A representative of the Providence Preservation Society says any exterior changes to the building would need approval from the city’s Downtown Design Review Committee. The committee acts as a historic district commission for the area.

The hotel was built in 1922, and it has 294 rooms.

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Information from: The Providence Journal, http://www.providencejournal.com