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IRR-Providence Mid-Year Viewpoint 2015 Local Market Report - Lodging

08/05/2015
Published By: Integra Realty Resources

Market Commentary

Rhode Island’s lodging industry is an important segment of the state’s economy. Approximately 9.7% of all jobs in the state are directly or indirectly with lodging facilities generating more $230 million in tax revenues for state and local governments. The lodging segment is interlinked with many other industries such as transportation, restaurants, agriculture, manufacturing and recreation.

There are more than 135 lodging properties in Rhode Island that have more than 11,500 rooms combined.

The city of Providence has a significant number of high end hotels as well as a large concentration of boutique hotels and the City of Newport anchors the southern part of the state with a significant number of lodging facilities as well.

As the tourism industry continues to grow in Rhode Island the lodging industry is expected to keep pace. Overall, the outlook for the lodging industry in Rhode Island is favorable and continued growth is anticipated in the 2nd half of 2015.

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IRR Mid-Year Viewpoint 2015 comprises a National Overview report and 300+ two-page Local Market Reports for all key property types as well as additional resources, including metrics methodology, graphs, and tables; these free reports may be downloaded from IRR’s site here.

Release Date08/05/2015 - 14:30

Source

Integra Realty Resources

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