The hotel and tourism industry has become an important part of our state’s economy — making a $3 billion impact annually.
News that the Masonic Temple luxury hotel project and others in downtown Providence are progressing — though at varying stages of financing — is tangible evidence of an industry that promises to continue to be a critical component of our economy.
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In fact, in recent years we have seen hotel construction completed throughout the state, including in Warwick and Woonsocket.
We hope that successes will not lull this state into any false sense of security — into a belief that these hotel and tourism dollars will flow into the state’s coffers forever.
Spend time talking to Robert Jones, of Festival Productions, the company that produces the Newport Jazz and Folk Festivals (as we do in this week’s Page 4 Interview) and you get the sense that Rhode Island in general, and Newport, in particular, has become an expensive place to visit. We hope that our hotels do not someday price themselves into a competitive disadvantage.
When asked about the kind of impact the music festivals have had on Newport’s economy, Jones describes a declining impact.
“The impact in fact may be somewhat less, slipping a little bit, because the position within the city with its hotels, lodging has now become quite expensive,” said Jones. “Many of our artists don’t stay here. It’s too expensive.”
Earlier this summer we ran a story that pointed out that bookings at several hotels was down — attributed largely to the economy.
But whether it be in Providence or Newport, we hope meeting and convention planners are in fact planning for the long haul.
