The RI Hospitality Association (RIHA) hosted its 20th annual Economic Outlook Breakfast for hospitality industry professionals at the Rhode Island Convention Center in Providence on Sept. 13. This year’s panelists included Hudson Riehle, Senior Vice President, Research & Knowledge Group, The National Restaurant Association; Rachel Roginsky, Owner and Principal, Pinnacle Advisory Group; and Heather Singleton, COO, RIHA and the RI Hospitality Education Foundation (RIHEF). Industry analysts predict that by 2024, Rhode Island’s restaurant and lodging industries will experience modest growth as inflation eases but remains elevated and as supply chain and workforce/labor shortages continue. According to Roginsky, the state’s lodging industry is projected to see a modest boost by the end of 2023. Roginsky analyzed the lodging markets in Providence, Warwick, Newport and Middletown. Singleton, who spoke on behalf of RIHA/RIHEF, discussed key statistics affecting the labor force, as well as leisure and hospitality employment on a national scale. Singleton’s findings suggest that hospitality labor shortages and rising labor costs will persist and potentially worsen due to global economic pressures in 2024. Riehle addressed the economic backdrop and performance of the restaurant and food service industry nationally. According to Riehle, the industry’s growth will likely advance at a slower pace throughout the remainder of 2023 and will continue to advance in 2024 with strong geographic variations. For full report highlights, visit rihospitality.org.
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- The RI Hospitality Association (RIHA) hosted its 20th annual Economic Outlook Breakfast on Sept. 13.
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- Hudson Riehle, Senior Vice President, Research & Knowledge Group, National Restaurant Association; Dale J. Venturini, President and CEO, RIHA; Rachel Roginsky, Owner and Principal, Pinnacle Advisory Group; Heather Singleton, COO, RIHA/RIHEF; and Bill Kitsilis, Chairman, RIHA and Owner, Angelo’s Palace Pizza and Antonio’s Pizza by the Slice.
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- Kristen Adamo, Providence Warwick Convention & Visitors Bureau and Pamela Baldwin, Newport Harbor Island Resort.
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- Adam Dani, Napier Financial; Chris Trosin, Metro Lobster & Seafood; and Caroline Bhatia, Vice President, Membership and Business Development, RIHA.
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- Brian Carlson, Homewood Suites Providence; Aaron Messina, Procaccianti Companies; Steven Ricciardi, Renaissance Providence Downtown Hotel; Adam Asakli, First Bristol Corporation; and Arnaldo Almonte, The Graduate Providence.
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- RIHA’s Traci Dufresne (left), Director, RIHEF and Dale J. Venturini, President and CEO welcome guests.
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- Jane Boyland, Jennifer Galipeau and Michael Sabitoni, Johnson & Wales University.
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- Dale J. Venturini, President and CEO, RIHA and Hudson Riehle, Senior Vice President, Research & Knowledge Group, National Restaurant Association.
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- Ray Minias and Cheryl Twiss, The Chanler at Cliff Walk.
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- RIHA team: Traci Dufresne, Director, RIHEF; Alisha Plante, Hospitality Workforce Trainer; and Cindy Stepanian, Office Manager.
Photos courtesy of RI Hospitality Association.
