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The Procaccianti Group Starts Conversion of the Holiday Inn Downtown Providence
to The Hilton Hotel Providence; Redevelopment Includes Complete
Interior and Exterior Renovations
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PROVIDENCE, R.I., August 17, 2005 — The Procaccianti Group (TPG), announced preliminary conversion work is underway to turn the Holiday Inn Downtown Providence to The Hilton Hotel Providence.  The complete interior and exterior renovation will include the resurfacing of the exterior, a reconfiguration of the main lobby, a three-story glass atrium to be used as a pedestrian-oriented retail space on the Fountain Street side of the building, an outdoor terrace and increased landscaping. 
 
“This conversion to a Hilton brand is very exciting for our company,” said James A. Procaccianti, President and Chief Executive Officer of The Procaccianti Group.   “Hilton is an outstanding company to work with and the cache that comes from being involved with such a respected brand is invaluable.”

“We're very excited about the Hilton being developed in Providence, R.I. -- the brand's first in the city," said Tom Keltner, president, brand performance and development group, Hilton Hotels Corporation.  "As important, this hotel will offer an exciting sense of place and meet the highest standards of the Hilton brand in both product quality and guest service.  We're delighted our already strong relationship with the Procaccianti Group is being strengthened and expanded.” 
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Holiday Inn Downtown Providence
21 Atwells Ave.
Providence, Rhode Island
The Holiday Inn/Hilton conversion is another step forward in the building of the Providence Power Block.  This project, along with the work slated to begin soon on The Westin Providence and The Residences at The Westin Providence, contribute significantly to the revitalization currently occurring in Providence. 

“I congratulate The Procaccianti Group on another major project for Providence. This conversion will boost tourism and conventions, providing new economic activity and well-deserved relief for property tax payers,” said Mayor David N. Cicilline. “Also, a revived facility at the end of the Sabin Street ‘power block’ will spur more development at an important location that connects our downtown neighborhood to Federal Hill.”

The project is expected to be completed by Fall, 2006.

About the Procaccianti Group
Operating for nearly 50 years, the Procaccianti Group, (www.procgroup.com), is a full-service, privately owned, real estate company that acquires, manages and renovates upscale full-service hotels.  The award-winning company is engaged in hotel and commercial property acquisitions, property management, hotel construction and design.  TPG, which has been recognized by Hilton, Intercontinental and other major franchisors for its leading hotels, is involved in all aspects of the hotel industry, from finance sourcing, construction and design, to ownership and management.  The Cranston, Rhode Island-based company owns and manages 32 hotels comprising nearly 8,000 rooms, as well as more than half a million square feet of meeting and conference space. 

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Contact:

Jane D’Arcy
 401.453.3100

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Also See: The Rhode Island Convention Center Authority Votes to Sell the State-owned Westin Providence to The Procaccianti Group; The Board Rejects Governor of Rhode Island Plea to Halt Sale / March 2005
The Procaccianti Group Part of Venture Proposing a $100 million Westin Hotel and Condominium in Portland, Maine / April 2005


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