2014 Government Regulations & Business Summit
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By Rebecca Keister
PBN Staff Writer
(Updated, 10 a.m.)
PROVIDENCE – Providence posted an 81.3 percent hotel occupancy rate for October, the second time this year it has surpassed an 80 percent rate, according to an analysis just released by Smith Travel Research.
The Providence Warwick Convention & Visitors Bureau cited several large groups, including IBC Life Sciences, the Society of Naval Architects & Marine Engineers, and the American Physical Society Division of Plasma Physics, for helping to more than triple its placement of total rooms in the overall marketplace for the month from October 2011.
In October 2011, the bureau placed 4,095 total rooms. That number reached 13,431 last month.
“It was a great month,” Kristen Adamo, vice president of marketing and communications, said in a statement.
The occupancy rate for October reflects an 8.8 percent increase from October 2011, when the occupancy rate reached 74.7 percent.
In Providence, the average daily room rate for October was $149.64, up 7.9 percent from the $138.64 rate in October 2011.
So far for 2012, the city has averaged a 69.8 percent occupancy rate reflecting a 4.3 percent increase from the same time period in 2011.
Hotels in Providence reached an 81.4 percent occupancy rate in June, representing the first time it went over 80 percent since October 2004.
Warwick reached a 70.8 percent occupancy rate for October, down 4.2 percent from its October 2011 occupancy rate of 73.9 percent.
The average daily room rate in Warwick was $90.43 for October, up 5.4 percent from $85.82 in October 2011.
Newport reported a 65.7 percent occupancy rate for October, down 2.2 percent from 67.3 percent in October 2011 which Discover Newport president and CEO Evan Smith said are consistent with 10-year averages.
In Newport, the average daily room rate was $204.82 for October, up 2.8 percent from $199.17 in October 2011.
Factoring in other Newport County towns, the occupancy rate for October was 58.4 percent, down 10.9 percent from 65.5 percent in October 2011.
Newport’s high occupancy rate for 2012 came in August, when it reached 90.8 percent, a 14.5 percent increase over the August 2011 rate of 83.7 percent.
“We’re pretty proud of that number,” Smith said.
So far for 2012 Newport is averaging a 63.8 percent occupancy rate, up 3.5 percent for the same time period in 2011.