Last updated on June 13th, 2024 at 05:15 pm
Two noted food service and lodging analysts recently had good numbers to report to guests and members of the Rhode Island Hospitality Association (RIHA), with the most promising numbers for the Rhode Island lodging market.
Hudson Riehle, SVP of research and knowledge for the National Restaurant Association, and Rachel Roginsky were guest speakers at the RIHA’s annual economic breakfast, held at the Rhode Island Convention Center in early September.
Citing spillover from travel and tourism in Boston, Roginsky noted lodging numbers were up in all of the Providence, Warwick and Newport markets. Rhode Island ranked first in RevPar (revenue per available room) with a 15 percent increase in a year.
“When the Boston market does well, it eventually makes its way down here,” said Roginsky, noting pickup in the national economy and declining gas prices as some of the factors for the boon. The New England increase parallels a national trend in improved occupancy, average daily rate and RevPar.
Riehle said food service growth remains moderate in the restaurant industry nationwide. National growth for 2015 is 2.6 percent above last year, but the last financial quarter showed a 3.2 percent growth rate.
