The Procaccianti Group, of Cranston, RI, acquired the property, from MeriStar Hospitality and will launch an extensive $15 million renovation project that will include a total upgrade of the hotel's infrastructure, exterior, rooms, conference space and food and beverage outlets.  The hotel will close for these renovations in January, 2004 and will reopen in 2005 to coincide with the opening of Hartford's new Connecticut Conference Center. The project is designed to meet or exceed the high standards set by the Hilton Corporation and the hotel will retain its prestigious Hilton flag.

The project, with investment from both The Procaccianti Group and Banknorth Connecticut, will be 100 percent funded. TPG is expected to spend more than $23 million in acquisition and renovation of the Hilton. While the hotel's closing will result in the temporary loss of about 150 jobs, the construction project is expected to generate 200-250 new construction jobs in Hartford. Hilton employees who will temporarily lose jobs are being assisted by The Procaccianti Group in finding new employment during the reconstruction and will be encouraged to reapply to the hotel when the project is completed.

CONVENTION CENTER SPURS HOTEL DEVELOPMENT

The Hilton project is the latest in a series of major developments in Hartford hospitality industry, spurred by the construction of the new Connecticut Convention Center. In October, Connecticut Governor John T. Rowland broke ground for construction of the 22-story Hartford Marriott Downtown.  With 417 guestrooms and suites and over 13,500 square feet of flexible meeting and banquet space, the new hotel will be connected to the Convention Center, now under construction. Both the Hartford Marriott Downtown and the new convention center are slated to open in 2005.

In addition, two Holiday Inn Express properties will open in December 2003.

THE CONNECTICUT CONVENTION CENTER

The Connecticut Convention Center is the focal point of Adriaen's Landing, an ambitious convention, hotel, retail, entertainment and residential complex, set on 30 acres along the Connecticut River.  With 550,000-square feet of space, the convention center will be the largest between New York and Boston with conference services, exhibit space and the $77 million Hartford Marriott Downtown. The project also includes Front Street residential, entertainment and shopping district, offering a range of unique and exciting venues, apartments, and pedestrian-scale streets tying the new Connecticut Convention Center, Hartford Marriott Downtown, and the Hartford Riverfront to adjacent attractions and neighborhoods.
 

Connecticut Convention Center Rendering -- The Connecticut Convention Center is being developed on the easternmost edge of downtown Hartford overlooking the Connecticut River at Adriaen's Landing. With over 145,000 square feet of exhibition space, it will be the largest convention facility between New York and Boston. The building is designed by the Atlanta-based architectural firm of Thompson, Ventullet, Stainback and Associates (TVS). The Connecticut Convention Center will be owned by the State of Connecticut.

Hartford Marriott Downtown Rendering -- The Hartford Marriott Downtown is articulated with a limestone colonnade at the base. The storefronts are accented by a series of canvas awnings oriented around the restaurant/bar facilities of the building and open up to enhance and animate the street. The building reflects the vertical bays of the nearby Travelers tower. The tower, itself, is capped with a vaulted roof that echoes the form of the convention center�s primary esplanade.

"We at the Greater Hartford Convention & Visitors Bureau are thrilled to see this major investment in Hartford's hospitality industry," says Scott Phelps, CVB president. "We are working very successfully in relocating the Hilton Hartford's 2004 business throughout Hartford and the surrounding area," he notes.

"This total upgrade of the Hilton Hartford is part of the momentum building to the opening of the spectacular new Connecticut Convention Center in June of 2005."

THE PROCACCIANTI GROUP

The Procaccianti Group provides management, construction design and accounting services for fine hotels and resorts. Formed in 1964, TPG is comprised of three main companies:  Lenox Hotels, Inc.- Hospitality Management; Brownstone Construction - Construction Management,  and Lenox Hospitality Design - Hotel Interior Design.  The organization has owned, developed or managed over $800 million in commercial and residential real estate. TPG currently has 21 hotels under management (20 owned) with 5,100 guestrooms and 340,00 square feet of meeting space.  The company and its hotels employ approximately 3500 people.