Duxbury’s The Providence Group, which helps financial institutions, lenders and owners address troubled hotel assets, has partnered with a New York company to review and analyze distressed hotel opportunities.

Premier Equity Fund, of Victor, N.Y. will work with the hospitality management company to help owners stabilize operations, reduce risks, identify opportunities and position the property to ensure optimal value, according to a staement.

Founded in 2005, The Providence Group launched its distressed hotel management program in 2009 to help troubled owners.

"Everyone in the hospitality industry had hoped that the economy would have turned around by now, but it’s clear that a significant rebound is a long way off," said Jed C. Heller, president of The Providence Group. "It’s more important than ever to understand the value of the asset and take steps to minimize any financial drain on the investors and owners."

He added: "This is the upside of any down market. Through our distressed hotel management program, we also identify opportunities that can be bought at a large discount and can be turned around."

Since focusing their management and consulting services on distressed hotels, The Providence Group has worked with owners and investors in a number of properties, including the Emerson Inn by the Sea in Rockport, New Hampshire’s Balsams Grand Resort Hotel and various other hotels from Nebraska to Florida, according to a statement.