Hawaii hotel occupancy tops 80 percent (Via PBN)
Posted by Tony Kawaguchi, RA on Saturday, August 14th, 2010 at 12:19pm.80% of Hawaii hotel rooms were full last week as tourism continued to grow stronger.
The room occupancy rate was 5.3 percent higher than a year ago. Oahu had the highest occupancy rate at 87.8 percent.
Hotel room rates have rebounded slightly, increasing by 3 percent compared to last year to an average of $191.97 per night. Oahu saw room rates climb an average of 4 percent to $161.53.
Good news for our local economy and for job seekers. Strong tourism in Hawaii = strong Hawaii real estate market.
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Wow, that's a strong sign that the market may experience increased activity in the coming months. Even though tourism may be slower in late August and September, it's a different dynamic of tourists (less families, more empty nesters who could be looking for second homes/vacation rentals).
Posted on Saturday, August 14th, 2010 at 11:10 PM.