How Many More Millions did Hawaii Hotels Earn Last Month?

According to the Hawaii Hotel Performance Report published by the Hawaii Tourism Authority (HTA), statewide RevPAR increased to $205 (+8.1%), with ADR at $260 (+4.4%) and occupancy of 78.8 percent (+2.7 percentage points) in November, a jump up also from October.



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In November, Hawaii hotel room revenues statewide grew by 7.6 percent to $330.3 million, which is $23.2 million higher than last year. Room demand rose to 1.3 million room nights, up 3.1 percent compared to a year ago. Room supply was similar year-over-year (1.6 million room nights, -0.5%). Several hotel properties across the state were closed for renovation or had rooms out of service for renovation during November.1

All classes of Hawaii hotel properties statewide reported RevPAR gains in November. Luxury Class properties reported RevPAR growth to $371 (+3.9%), with increases in ADR at $509 (+3.9%) and flat occupancy. Midscale & Economy Class hotels reported RevPAR of $135 (+11.1%), with increases in both occupancy (81.6%, +5.2 percentage points) and ADR ($166, +4.0%).

Among Hawaii’s four island counties, Maui County hotels led the state in RevPAR at $265 (+7.7%), with ADR of $354 (+5.8%) and occupancy of 74.9 percent (+1.3 percentage points) in November. Properties in Wailea, where there are a number of luxury resorts, earned RevPAR of $444 (+3.0%), with increases in ADR ($536, +7.5%) offsetting lower occupancy (82.8%, -3.6 percentage points).


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Oahu hotels reported RevPAR growth to $188 (+9.1%) in November, with increases in ADR to $229 (+5.4%) and occupancy of 82.0 percent (+2.8 percentage points). Waikiki properties earned RevPAR of $188 (+11.4%), with increases in both ADR ($227, +6.5%) and occupancy (83.1%, +3.7 percentage points).

Hotels on the island of Hawaii saw significant increases in RevPAR to $185 (+13.5%), ADR at $245 (+3.8%) and occupancy of 75.7 percent (+6.5 percentage points) in November compared to the same time a year ago. Properties on the Kohala Coast earned RevPAR of $271 (+16.3%), ADR at $349 (+2.5%), and occupancy of 77.8 percent (+9.3 percentage points). In May 2018, Kilauea volcano started erupting in lower Puna, which contributed to a downturn in visitors to the island of Hawaii in the following months.

Kauai hotels reported lower RevPAR of $180 (-1.7%), ADR at $250 (-1.9%) and occupancy of 72.2 percent (+0.2 percentage points) in November.

HTA’s Tourism Research Division issued the report’s findings utilizing data compiled by STR, Inc.

Tables of hotel performance statistics, including data presented in the report are available for viewing online.

Click here to read the full article.

https://www.eturbonews.com/531516/how-many-more-millions-did-hawaii-hotels-earn-last-month/

 

Source: eTurboNews

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