Hawaii timeshare properties averaged 92 percent occupancy in Q1 2018

Timeshare properties in Hawaii averaged a 92.0 percent occupancy rate statewide for the first three months of 2018, according to the Hawaii Timeshare Quarterly Report released today by the Hawaii Tourism Authority (HTA). By comparison, hotel properties averaged an 82.9 percent occupancy rate for the same quarter.

Owners of Hawaii timeshare units accounted for 58.8 percent of occupied room nights in the first quarter, while exchangers (timeshare owners staying in a timeshare they do not own via a timeshare exchange program) represented 17.5 percent of the occupied room nights. Transient rental of units to owners and exchangers beyond their allotted timeshare stay, as well as to the general public, represented 15.2 percent of occupied room nights. Marketing use represented 8.4 percent of occupied room nights.

A total of 192,172 visitors stayed at a timeshare resort in the Hawaiian Islands for all or part of their stay during the first quarter, an increase of 8.1 percent year-over-year. Of that total, 144,415 visitors, or 75.1 percent, stayed exclusively at a timeshare resort, with the remaining 47,757 visitors, or 24.9 percent, extending their visit in Hawaii with other lodging arrangements. Altogether, timeshare visitors represented 7.9 percent of total visitors to Hawaii in the first quarter.

Timeshare visitors’ average length of stay in the Hawaiian Islands for the first three months of 2018 was 11.1 days, which was higher than the average length of stay of 9.3 days for all visitors.

Occupancy at Maui County timeshare properties was more robust in Q1 2018 (95.6 percent, +1.5 percentage points), while Oahu (92.8 percent, +0.1 percentage points) and island of Hawaii (91.0 percent, -0.1 percentage points) properties were similar to last year. Timeshare occupancy on Kauai (86.6 percent, -4.9 percentage points) was lower than the same period in 2017.

Timeshare properties participating in the survey for the Hawaii Timeshare Quarterly Report generated a total of $27.1 million in state and county taxes in the first quarter, including real property tax, general excise tax, timeshare occupancy tax, transient accommodations tax and conveyance tax. Real property tax accounted for the largest share of taxes paid by timeshare owners at $10.8 million, or 40.0 percent, of the total amount.

Statewide payroll expenses for the first quarter totaled $86.8 million, as reported by timeshare survey participants.

HTA’s Hawaii Timeshare Quarterly Report was prepared by Kloninger & Sims Consulting LLC. The timeshare survey findings for the first quarter are based on data provided by 49 individual timeshare properties representing 79.3 percent of Hawaii’s 11,233 timeshare units statewide.

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https://www.eturbonews.com/227386/hawaii-timeshare-properties-averaged-92-percent-occupancy-in-q1-2018

 

Source: eTurboNews

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