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Hawaii's Hotels Suffered in '09; Looking Forward to '10February 16, 2010 By: Jena Tesse Fox
HawaiiNewsNow is reporting that Hawaii's hotels "took a bath" in 2009, but the damage was mostly done by the end of September, a possible sign that 2010 will see at least some recovery.
Hotel revenues across the state fell $741 million to less than $3.6 billion, the report states, with $501 million in losses from lower room rates and the rest from fewer room nights. Hotel revenues were down 17 percent from 2008, which had been down 7 percent from the peak year of 2006.
The figures came Tuesday from Hospitality Advisors LLC, the same research firm that does the weekly hotel occupancy survey and the monthly report on revpar - revenue per available room.
For the full year, Oahu hotel occupancy was 73 percent, with 62 percent in Maui County, 60 percent on Kauai, and less than 55 percent on the Big Island. There was a wide disparity between 75 percent occupancy in Waikiki versus 63 percent occupancy on the rest of Oahu, but not as much difference from district to district on other islands.
Statewide occupancy was 66.5 percent, third highest in the United States. For average room rate, Hawaii came in second to New York, with Washington third followed by Miami and Boston. Hawaii was also second to New York on revpar.