Arakelian and Lawrence of Lila Delman Compass sell Wyndham Providence

Warwick, RI Lila Delman Compass negotiated the hospitality sale of 1850 Post Rd., previously known as Wyndham Providence. Gregory Arakelian, Lila Delman Compass commercial director, and Dave Lawrence, Lila Delman Compass sales associate, represented the seller. Arakelian also facilitated for the buyer.

A national group specializing in hotel-to-apartment conversions has acquired the 207-room hotel for an undisclosed amount. The community landmark, dating back to 1972 as the Airport Sheraton, presented a unique opportunity for the buyer.

“The listing emerged during a challenging period for airport hotels, as the COVID-19 pandemic severely impacted the industry. However, leveraging our local expertise and national reach, we identified an exceptional buyer who aligns with the evolving market demands,” said Arakelian. “The new owners are poised to transform the property into 150 studio apartments at a time when demand for quality, reasonably priced housing is at a new high. These apartments will offer an array of exceptional amenities, including an indoor pool and fitness center while maintaining convenient accessibility for all modes of transportation”.