Hawaii hotel occupancy continues to improve
Posted by Tony Kawaguchi, RA on Wednesday, March 10th, 2010 at 2:14pm.Good news as the economic world didn't collapse as much as people thought it would in 2008-2009. From today's PBN: Hawaii hotel occupancy grew 3.4 percentage points to 66.5 percent in January — the fourth occupancy increase in the past five months.
However, as compared with the same month last year, room rates continue to slide — down $21 to average $176 a night. That meant a $7 drop to $117 in revenue per available room. Overall, statewide room revenue in January fell by an estimated $9.3 million to $206.7 million.
"The positive January 2010 results reflect a continuation of the recovery trend that began during the last quarter 2009,” said Joseph Toy, president and CEO of Hospitality Advisors. “Preliminary February results also appear stronger than the prior year, which bodes well for our 2010 first quarter winter busy season.”
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