Hawaii hotels room revenue grow in first nine months of 2012
A latest report by a travel research company indicated that there had been a 7 percent increase in room revenue at Hawaii hotels in September this year. The report also said that Hawaii hotels room revenue grew by 15 percent during the first nine months of 2012, hitting a record $2.45 billion, as compared to the same period last year.
The report further said that the occupancy at Hawaii hotels was down by 0.7 percentage points in September this year as compared to the same month in 2011, to a statewide rate of 73.8 percent.
However, the year-to-date occupancy rate was appreciable as the customers succeeded in finding the best hotel deals. The report disclosed that the year-to-date occupancy rate increased 4.1 percentage points to 77.8 percent during January-September period this year. The present report has now ranked Hawaii Islands as No. 3 among the top five hotel markets in the United States, after New York and San Francisco.
In September this year, the customers found it difficult to get cheap hotels as average daily room rates increased 8 percent to $186.47 from $172.62 in September 2011. The report stated that the average statewide daily room rate increased 7.8 percent to $202.90 for the first nine months of 2012. Last year, the average statewide daily room rate was $188.14 during the same period.
The report said that the hotel industry in Hawaii Islands has been enjoying revenue increases for 31 consecutive months now after facing the unprecedented deep market recession that started in April 2008. The report, however, cautioned that despite the strengthening of revenue the profitability would remain under constant pressure because of sharp increase in infrastructure and operating costs.