Rhode Island State Area - 2024 Q3

The Rhode Island State Area lodging market ranks in the top tier nationally. Providence's economy is driven by healthcare and manufacturing, though a weak housing market poses challenges. Job growth positively impacts hotel demand. The report analyzes market performance across six hotel classes (luxury to economy), highlighting key metrics like occupancy, ADR, and RevPAR. Luxury, Upscale, and Economy classes show strong performance, while Upper Midscale faces challenges. Investment risk is categorized, with favorable prospects for most classes, excluding Upper Midscale. Occupancy, ADR, and RevPAR trends from 1990 through September 2024 are detailed. Click here to view a shortened preview of the report.