Pyramid Global Hospitality has added the Wayfinder Newport hotel to its management portfolio, the company announced Tuesday. 

Pyramid plans to renovate and reopen the 197-room property, which suffered extensive damage from a fire just two years after its initial opening. 

Pyramid has assumed management of the hotel, which will continue to be owned by Dovetail + Co. The Wayfinder Newport was Dovetail + Co’s first property. 

“Wayfinder Newport has a special place in Dovetail’s heart as our first property. We love Rhode Island as a second home. We are eager to open our doors again, continue contributing to this dynamic community, and excited to build a great team with Pyramid Global that shares our appreciation for this beautiful state,” said Phil Hospod, founder and CEO of Dovetail + Co, in the announcement.

The Wayfinder Newport first opened in 2020 as a boutique hotel created by a host of local Newport chefs, bartenders, designers and entrepreneurs. With the support of Pyramid, the Wayfinder Newport will partially open this summer after the renovation. The full hotel will open this fall. 

The hotel is designed to offer an update of the typical Newport experience, per the release. Its design is a “fresh take on coastal style” featuring contemporary art, cool tones and antique finds. The property hosts an on-site restaurant, Nomi Park, which serves coastal classics “with a kick.” 

Pyramid Global’s hotel and resort management portfolio spans more than 230 properties across the U.S., Caribbean and Europe.