Eight new hotels coming to Providence among record-setting occupancy

Business News
Hotel boom in Providence; city seeing record occupancy

PROVIDENCE, R.I. (WPRI) — The city of Providence is seeing a surge in hotel proposals, with eight new hotels currently in various stages of development. 

In March, the Woodspring Suites Hotel opened its doors on Corliss Street. Two extended-stay hotels, the Homewood Suites Hotel on Exchange Street and the Marriott Residence Inn a few blocks away on Fountain, are expected to open this year. Other proposals include boutique accommodations like Aloft Hotel and Hotel Beatrice, and budget-friendly options like Hotel Hive. 

Officials at the Providence Warwick Convention and Visitors Bureau say cities across the country are seeing a boom in the hotel and tourism industry, and Providence has seen record-setting occupancy in the past year-and-a-half.

Tom Riel, the bureau’s vice president of sales and service, said the hotels will offer boutique options popular among a growing number of young travelers, and extended-stay apartment-style suites that the city didn’t previously have.

Providence currently has 12 conventional hotels, not including bed-and-breakfasts and hostels. Ten of them, accounting for roughly 2,500 rooms, are within a one-mile radius of the Rhode Island Convention Center, according to Riel. When all of the newly proposed hotels are open, Providence will have 19 hotels and roughly 3,500 rooms.

“There are a lot of hotels coming at once,” Riel said. “But again, I think that we’ve seen that the flow of business here has been able to support that.”

Alyssa Karam, asset manager for First Bristol Corporation, the development firm behind the Homewood Suites project, said she isn’t concerned about competing with the new Residence Inn, which is set to open just a few blocks away and several months after Homewood.

Riel said with business booming, the city can likely support several new hotels. He said occupancy averages around 70% and has been reaching 80% in the summer months. 

“That means we’re sold out four nights a week,” he said. “We’re very popular right now.”

Riel said there are multiple reasons people seek Providence for a stay, whether it’s a sporting event, a weekend trip or a business convention. 

Karam said the location of the new Homewood Suites is convenient for business travelers or others looking to stay in Providence for a while.

“You’re within walking distance of so many corporate companies’ headquarters, colleges and universities,” she said. 

Each room offers kitchen amenities and floor-to-ceiling windows looking out over the city. Karam expects the hotel to be especially popular on WaterFire nights.

According to the city, Providence’s newest open and proposed hotels are:

  • Homewood Suites Hotel, 5 Exchange Street, 120 rooms, Under construction
  • Marriott Residence Inn, 111 Fountain Street, 168 rooms, Under construction
  • Hotel Beatrice, 28-32 Kennedy Plaza, 48 rooms, Under construction
  • Best Western Glo Hotel, 322 Washington Street, 76 rooms, Commission/board review approved
  • Aloft Hotel, Innovation Complex, 170 rooms, Commission/board review approved
  • Holiday Inn, 371 Pine Street, 91 rooms, Commission/board review approved
  • Hotel Hive, 187 Westminster Street, 129 rooms, Pre-application
  • Woodspring Suites Hotel, 181 Corliss Street, 124 rooms, Completed

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