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New owners have big plans for Providence Biltmore

PROVIDENCE, R.I. — The owners of the Providence Biltmore and a New York investment firm are teaming up to restore the landmark hotel.

Finard Coventry Hotel Management bought the 294-room  hotel in May 2012. Angelo Gordon is the firm that will invest $13 million to make improvements.

Finard Coventry has already made significant improvements to the hotel’s infrastructure and to its rooftop grand ballroom.

The partnership with Angelo Gordon will allow it to renovate all guest rooms and hallways this winter. Later next year, the lobby, the junior ballrooms and the meeting rooms will be renovated. The hotel, in downtown Providence, will be open as work is done.

The Providence Biltmore opened to much fanfare in 1922, as more than 1,000 turned out for the celebration. In short order, the 600-room hotel and its six restaurants became known as the social center of the city. It closed for five years in the mid-1970s but has since been renovated several times. The hotel is a member of Historic Hotels of America and is part of the Preferred Hotels Group.