From The Advertiser: "Revenue per available room, or "revpar," rose to $122.43 in March
from $119.21 a year earlier, according to a report released today by
Hospitality Advisors and Smith Travel Research."
"After 24
consecutive months of room revenue losses, the rise in monthly occupancy
during March was finally able to outpace room discounting for a modest
revenue gain," said Joseph Toy, president and chief executive officer of
Hospitality Advisors LLC, a local travel industry consulting firm.
Statewide, hotel room occupancy rose to 70.6 percent in March from 65.2 percent a
year earlier. Occupancy has increased in six out of the past seven
months due in part to discounting.
Nationally,
Hawai'i's 70.6 percent March occupancy rate was the third highest in
the country, trailing New York at 72 percent and Miami at 77.9 percent. Hawai'i's
$173.41 average daily room rate also was third highest, behind Miami
at $182.70 and New York at $188.06.