Historic Providence Hotel Set for $36M Debt Auction

The Graduate by Hilton Providence, the historic downtown hotel long known as the Biltmore, is scheduled for a public auction in New York on Jan. 20, 2027. The sale follows disclosure of about $36.3 million in unpaid mortgage debt tied to the property, whose ownership interest is held through Biltmore Providence Lessee LLC; lender ACORE Capital is conducting the auction. Opened in 1922 and renamed the Graduate in 2019, the 294-room hotel remains a Providence landmark. The auction does not automatically mean the hotel will close, and a buyer could seek to continue operating it under Hilton. A Cincinnati hotel tied to the same loans is also included in the auction.