The Hilton Boston/Woburn’s $16 million renovation project including new guest rooms, event spaces and a new tapas restaurant has been completed by owners The Davis Cos. and Rubicon Cos.

Davis Cos. and Rubicon acquired the 344-room hotel in January 2016 for $32.1 million. Architects Perkins + Will designed the renovation project, which included conversion of the glass atrium lobby into a Spanish restaurant run by the owners of Boston’s Yvonne’s and Lolita, which opened Monday. The open kitchen-format restaurant with wood-fired grill is connected to a firepit-equipped patio and central bar.

Renovations to the 8-acre property at 2 Forbes Road include redecorated guest rooms including forged metals as a reference to Woburn’s industrial history, updates to the 18,000-square-foot event space, and a new “Rivet Room” social space overlooking the indoor pool.

This article has been updated to correct the name of the architectural firm involved with the project.