Study: Hotel Industry Pandemic Cost of RI, $ 2.2 billion in 2020 | Rhode Island News
NEWPORT, RI (AP) – The COVID-19 pandemic cost Rhode Island’s hotel and tourism industry $ 2.2 billion last year, according to a new study.
The study was commissioned by the Rhode Island Hospitality Association and conducted by students enrolled in Salve Regina University business professor Samuel Sacco’s introductory econometrics course, the Newport Daily News reported on Tuesday.
He examined statewide impacts in each of the four industry sectors, including food and beverage; events and meetings; accommodation; and tourism and attractions.
“Rhode Island’s hospitality industry has been one of the hardest-hit industries in the state during the COVID-19 pandemic,” said Dale Venturini, president and CEO of the hotel association, in a statement . “Our hotel, restaurant and attraction members were extremely transparent about the overall loss of business, but this study further illustrates the magnitude of the financial impact on Rhode Island’s third-largest industry.”
The students identified closely with the study, Sacco said, because for many of them the pandemic affected their own jobs.
Students in Sacco’s class have carried out several other economic impact studies in previous years.
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