The Conway hospitality industry represents 4,804 jobs and $198 million in gross regional product. Through the first five months of 2024, the industry appears to be showing growth in year-over-year numbers.
Hotel sales collections in Conway have totaled $10.2 million through May, up 8.1% from $9.4 million in 2023. Hotel collections have shown growth in year-end totals since 2021, including 12.9% growth in 2022 and 14.6% in 2023.
Last year’s totals topped $26.1 million after totaling $22.7 million in 2022. Collections in 2021 rebounded 57% to $20.1 million after COVID-19 impacted 2020 collections.
Restaurant sales collections are also up through May, totaling $123.5 million in the first five months of 2024. That is up 5.3% from 2023 when restaurant sales sat at $117.3 million through May.
As with hotel sales, restaurant sales have grown year-over-year since 2021. Numbers were up 12.3% in 2022 and 7.9% in 2023, totaling $265.0 million and $286.0 million, respectively.
Conway was one of several cities across the state and country to welcome out-of-town visitors in April for the total solar eclipse.
“The solar eclipse was an exciting day for Conway,” said Rachel Shaw, executive director of Visit Conway. “Our hotels were able to sell their rooms at two-times the rate of a normal week. Conway had visitors from 35 states, plus Canada and the U.K.”
Shaw said May and June are typically strong months for hotel and restaurant collections in Conway.
“They are typically our largest collections months each year, based on so many youth sporting events taking place in Conway, as well as other summer events and leisure travelers,” Shaw said.
The hospitality industry in Conway has grown 13% since 2018. It is expected to grow another 6% through 2028.
Hotel Sales, Year-over-Year
| Year | Total Collections | Previous Year Growth |
|---|---|---|
| 2021 | $20.18 million | 57.4% |
| 2022 | $22.78 million | 12.9% |
| 2023 | $26.12 million | 14.6% |
Restaurant Sales, Year-over-Year
| Year | Total Collections | Previous Year Growth |
|---|---|---|
| 2021 | $235.84 million | 23.9% |
| 2022 | $265.03 million | 12.3% |
| 2023 | $286.02 million | 7.9% |
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