HONOLULU (AP) — While the state’s hotel market started the year slowly, a pickup in March has continued and led to a record-setting May. ADVERTISING HONOLULU (AP) — While the state’s hotel market started the year slowly, a pickup in
HONOLULU (AP) — While the state’s hotel market started the year slowly, a pickup in March has continued and led to a record-setting May.
Gains in May occupancy, average daily rate and revenue per available room helped set a hotel revenue record for the month, according to a report that was expected to be released Wednesday by STR Inc. and Hospitality Advisors LLC.
The monthly survey includes 89 percent of all lodging properties with 20 rooms or more. It’s the largest survey of its kind in the state and is reported as part of the state’s official monthly visitor industry statistical report.
“As we were heading into the first quarter of 2015, there was a lot of concern because the industry outlook was much softer than we had hoped,” said Joseph Toy, president and CEO of Hospitality Advisors. “January through March, we saw some negative numbers, which were replaced by recovery in April and May.”
Toy said stronger consumer confidence, added flight capacity and attractively priced packages shortened the booking window and fueled rapid increases, especially from Hawaii’s core U.S. West market.
While results were mixed on neighbor islands, Oahu achieved a May occupancy record of 84.2 percent, a gain of 3.7 percentage points from the year-prior May. Toy said strong visitor growth and a reduction of more than 1,000 rooms because of the renovation and redevelopment of the Ohana Waikiki West and the JW Marriott Ihilani fueled Oahu’s occupancy record.
