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The Providence Group Announces Continued Focus
on Distressed Hotel Management Program

Company Completes Hotel Strategic Review for Premier Equity Fund
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October 18, 2010 - Duxbury, MA. Jed C. Heller, President of The Providence Group, LLC, a Massachusetts-based full service hospitality management company, announced today that the company is continuing its focus on helping financial institutions, lenders and owners address troubled hotel assets. Founded in 2005, The Providence Group launched its Distressed Hotel Management Program in 2009 to help owners stabilize operations, reduce risks, identify opportunities, and position the property to ensure optimal value of the asset.

"Everyone in the hospitality industry had hoped that the economy would have turned around by now, but it's clear that a significant rebound is a long way off," said Heller. "It's more important than ever to understand the value of the asset and take steps to minimize any financial drain on the investors and owners."

The Providence Group recently completed an engagement with Premier Equity Fund (Victor, NY) to review and analyze distressed hotel opportunities and formulate a strategic plan moving forward. Heller noted: "This is the upside of any down market. Through our distressed hotel management program, we also identify opportunities that can be bought at a large discount and can be turned around."

"Jed Heller's analysis was informative, to the point, and addressed all of the pertinent issues," said Scott Thon, Premier Equity Fund's Managing Director.
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Since focusing their management and consulting services on Distressed Hotels, The Providence Group has worked with owners and investors in a number of properties, including the Emerson Inn by the Sea (Rockport, MA), Regency Lodge (Omaha, NE), The Inn at the Blue (Marian, NY), The Wyndham Drake Hotel (Oak Brook, IL), The Royal Inn Hotel (Fort Pierce Beach Hutchinson Island, FL), and the Balsams Grand Resort Hotel (Dixville Notch, NH).

About the Providence Group, LLC
The Providence Group is a full service hospitality management company focused on providing management and consulting services for small- to mid-size hotels.  In 2009, the company launched a practice dedicated to helping financial institutions, lenders and owners address troubled hotel assets. Company Founder and President, Jed C. Heller, is a 30 year veteran of the hospitality management industry and serves on the editorial board of HotelExecutive.com and the Resort Management Committee of the American Resort Development Association.  He is also a frequent guest speaker at industry conferences. www.providencegrp.com

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Contact:

Jed C. Heller, President
The Providence Group, LLC
jcheller@providencegrp.com
781-582-8785/(954) 732-2873
www.providencegrp.com

Tom Ricci
Ricci Communications
tom@riccicommunications.com
(401) 354-2360
 

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Also See: The Providence Group, LLC Engaged to Manage the Historic Emerson Inn by the Sea in Rockport, MA / March 2010
The Providence Group, LLC Engaged to Manage The Regency Lodge in Omaha, Nebraska / January 2010
Jed Heller, President of The Providence Group, Invited to Participate as a Panelist for the IMN U.S. Real Estate Opportunity & Private Fund Investing Forum/ May 2009
Jed Heller, President of The Providence Group, Invited to Participate as a Panelist for the Information Management Network (IMN) Distressed Hotel Symposium / April 2009
The Providence Group, LLC Slated to Manage the Inn at the Blue, East Marion, NY / February 2009
The Providence Group, LLC to Manage The Royal Inn Hotel in Fort Pierce, Florida / January 2009
The Providence Group, LLC Completes Consulting Engagement with The Balsams Grand Resort Hotel; The Premier Resort is Well Known as the “First In Nation” Electoral Site / October 2008
The Providence Group, LLC Lands Contract to Provide Management Services for the Sleep Inn and Suites, Etowah, TN / August 2008
The Providence Group, LLC Expands Hospitality Management Operations with Office in Ft. Lauderdale, Florida; Company Focused on Providing Management Services to Small to Mid-Size Hotels / February 2008
The Providence Group Helps Spearhead Upscale Project / September 2007
The Providence Group Manages The Microtel Inn & Suites in Seneca Falls, New York / September 2007
The Providence Group Manages The Sandhurst Hotel & Suites / February 2007
The Providence Group Announces Drake Sale / February 2007
The Providence Group Continues Expansion in 2007; Management Consulting Firm Keeps Promise during Growth / January 2007
The Providence Group Offers Training for General Managers New Service Comes with a Satisfaction Guarantee / March 2006
The Providence Group Gears Up for March Madness; President Jed C. Heller to speak at ARDA, Hotel Investment Conference / February 2006
The Providence Group Poised for Growth in 2006 / January 2006
The Providence Group forms Villa Consultants International / December 2005


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