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March 14, 2014

Hawaii's Hotels Raise Rates: Occupancy Down, Revenue Up




Each of Hawaii's four major islands broke new records for hotel rates, while revenue per available room was up across the islands and occupancy was down on all but one of them, according to a draft report released this week by Hospitality Advisors LLC and Smith Travel Research.

Oahu hotel occupancy averaged 83.7 percent in 2013, a 1 percentage-point decline from 2012, while Waikiki hotel occupancy averaged 85.2 percent, a dip of 0.6 percentage points from 2012. Hospitality Advisors said the decline in occupancy is due to a shorter average length of stay, which the company attributes to an increase in the average daily rate. At $209.01, the average daily rate at Oahu hotels in 2013 set an all-time record, which was a 13.9 percent increase over 2012. Revenue per available room, or RevPAR, increased 12.5 percent to $174.94 — another record.

Maui hotels averaged 72 percent occupancy in 2013, which was a 2.4 percentage-point decline from 2012. The average daily rate reached a record $277.61, a 6.2 percent increase from 2012, while RevPar reached a record $199.88.

Kauai was the only one of the four major islands to see an increase in hotel occupancy in 2013, which was a 0.2 percentage-point increase to 69 percent. The average daily rate at Kauai hotels was $225.19, a new record and an increase of 6.6 percent from 2012. RevPAR increased 6.9 percent to $155.38, but did not break the 2007 record.

Big Island hotel occupancy decreased 1.2 percentage points in 2013 to 60.8 percent. The average daily rate, meanwhile, increased 11.2 percent to a record $214.11 for the year. RevPAR increased 9 percent to $130.18.


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