The Providence Group LLC, a Duxbury-based hospitality management company, has launched a distressed hotel management program to help financial institutions, lenders and owners address their troubled hotel assets.

The program is designed to stabilize operations, reduce risks and position the property to ensure optimal value, the firm said.

"Banks and other financial institutions find themselves in an increasingly poor financial situation dealing with so many failing hotels," said Jed C. Heller, president of the Providence Group. "Our goal is to quickly assess the situation, develop a strategic action plan, and leverage our network of buyers to assist in the sale of the property and minimize the financial drain on the investors and owners.

"We are focused on increasing the value of the asset during the process through cost containment and yield management," Heller added.