Historic Rhode Island hotel to hit auction block next year

PROVIDENCE, R.I. — A historic Rhode Island hotel will go up for auction in January, according to a public sale notice.

The Graduate Providence Hotel, formerly known as the Biltmore, opened in 1922.

AJ Capital Partners, the hotel’s owner, said there is $36 million in unpaid debt. However, Hilton operates the hotel.

The historic 18-story hotel has 294 rooms and overlooks Kennedy Plaza.

Residents said the red letters on top of the building are an iconic part of the city.

“Every time you come to Providence, you can’t miss those big letters up there. Definitely part of the city for sure,” said one resident.

The winner of the auction could submit an application to Hilton to continue operating within the franchise.

This is a developing story. Check back for updates as more information becomes available.

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