The refurbishment is expected to include all guest rooms and public areas. New amenities will include high-speed wireless Internet access. Aspen Group vice president Howard Jacobs tells GlobeSt.com there is no firm start date or budget for the renovation project, but says details should be hammered out "in the next 60 to 90 days."

The property will be marketed as an upscale boutique hotel. The new room rates have not been released, but should be competitively priced with other city boutique hotels such as the Claremont Hotel, the Warwick and the Mayflower Park Hotel.

The Aspen Group has owned the Vance Hotel since the mid 1980s. The company is affiliated with Gordon Sondland, who is involved in a 25-story hotel and condominium tower at the corner of First Avenue and Madison Street, on the site of the former Warshal's Sporting Goods store.

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