PROVIDENCE – The crushing blow to the state’s hospitality and tourism industry now has a dollar figure: at least $43 million in lost revenue, according to projections shared by the Providence Warwick Convention & Visitors Bureau on Wednesday.
The projections reflect anticipated losses in direct spending as a result of meetings, conventions and sporting events at the Rhode Island Convention Center and the Dunkin’ Donuts Center and other other venues booked through the PWCVB since March 11 and through November 1 that are now canceled or postponed due to COVID-19. It does not include the impact of weddings and special events, which a PWCVB survey of five area hotels indicated would create an additional $7.6 million shortfall.
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The organization reported $74.3 million in direct spending in fiscal year 2019, reflecting revenue from hotel rooms, restaurants, shopping, transportation, Convention Center rental fees and other spending associated with the 242 meetings, conventions and sporting events booked through the PWCVB.
Total lost revenue will depend on when the Rhode Island Convention Center, currently repurposed to serve as a field hospital in the event of a surge of COVID-19 hospitalizations, reopens for events as well as when limitations on travel and large group gatherings are lifted, the organization said.
PWCVB recommended packaging hotel stays, dining options and other experiences at a single price as well as highlighting the renowned culinary and arts and cultural experiences as ways to help Providence maintain its brand and begin economic recovery.
A “robust” calendar of convention center events for 2021, as well as the density of residents within a 300-mile driving distance of the state are advantages that will aid in eventual recovery and resumption of tourism activities, PWCVB said.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
