Hotels In Carolina|"Hawaii Hotels Reach Record Room Revenue"

Source             :    bizjournals.com
Category        :    Hotels In Carolina
By                  :     Janis L. Magin
Posted By     :    Hotels Carolina Beach NC

Hotels In Carolina

Higher average daily room rates helped push room revenue at Hawaii hotels to $336 million in July, a new record for any single month, despite a nearly 3 percentage-point decline in occupancy for the month, according to a monthly report by Hospitality Advisors LLC and Smith Travel Research. The statewide occupancy rate in July was 78.9 percent, which was 2.9 percentage points lower than the rate in July 2012, the report said. The statewide average daily room rate for the month, however, rose 11.8 percent to $241.63, which was also a new record for any single month and helped to offset the decline in occupancy to push revenue per available room, or RevPAR, to $190.65, which was 7.8 percent higher than the same month last year and a new high for the month of July. Occupancy was highest on Oahu, where 87.7 percent of hotels were full in July, but that was a decline of 3.9 percentage points from the 91.6 percent rate set in July 2012. Waikiki hotels followed a similar trend with an occupancy rate of 89.1 percent in July, which was 3 percentage points lower than the 92.1 percent rate during the same month last year. Despite that, the average daily room rate on Oahu rose 13.4 percent to $221.42, while RevPAR rose 8.5 percent to $194.19.

Source:bizjournals.com/pacific/blog/morning_call/2013/09/hawaii-hotels-reach-record-room.html