DelMonte Hotel Group adds to portfolio with expansion into Rhode Island

Kevin Oklobzija//April 18, 2024//

DelMonte Hotel Group has partnered with Rockbridge on acquisition of the 219-room Courtyard Providence Downtown. (Photo provided by DelMonte Hotel Group)

Kevin Oklobzija//April 18, 2024//

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East Rochester-based Del Monte Hotel Group is expanding into New England with the addition of another Marriott-flagged hotel to its portfolio.

DelMonte Hotel Group partnered with Rockbridge, an Ohio-based hospitality investment firm, on the acquisition of the Courtyard Providence Downtown in Providence, R.I. The seven-story property has 219 rooms.

Of the 17 properties in the DHG portfolio, 12 are in New York, with two in Ohio, and one each in Pennsylvania, Tennessee and now Rhode Island. There are 12 properties flying the flag of a Marriott brand.

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“With over 50 years of hospitality experience, DHG has a proven track record, and we look forward to continuing our expansion into new markets,” Alexander DelMonte, company president and CEO, said in a news release.

HIT Portfolio I Owner LLC sold the Courtyard Providence Downtown for $28.6 million to 32 Exchange Terrace Hotel LLC on April 2, the Providence Business News reported.

“We have exciting plans for the hotel, which includes a top-to-bottom renovation of the asset,” DelMonte said.

DHG has operated since 1973 and has been expanding its reach in recent years. The firm acquired two hotels in Saratoga Springs in 2022 and added the Moxy hotel — Marriott’s next-gen brand — in Chattanooga, Tenn., in 2023.

Rockbridge, headquartered in Columbus, Ohio, is a hospitality-centered investment firm with more than $3.8 billion in assets under management.

DHG and Rockbridge are partners in one other hotel, a Residence Inn by Marriott in Cleveland.

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