Excellent month: Hawaii hotels report strong February results
Hawaii hotels statewide reported strong results in February 2018 compared to a year ago, highlighted by average revenue per available room (RevPAR) of $252 (+10.5%), according to the Hawaii Hotel Performance Report released today by the Hawaii Tourism Authority (HTA).
Statewide average daily rate (ADR) grew to $294 (+8.0%) in February, with occupancy also increasing to 85.6 percent (+1.9 percentage points).
HTA’s Tourism Research Division issued the report’s findings utilizing data compiled by STR, Inc., which conducts the largest and most comprehensive survey of hotel properties in the Hawaiian Islands.
Jennifer Chun, HTA director of tourism research, commented, “February was an excellent month for Hawaii’s hotel industry across the board. All classes of hotel properties on all counties performed well and that’s great news for the industry as a whole. Wailea and the Kohala Coast stood out with exceptional growth in RevPAR and ADR, complemented by high rates of occupancy.”
All classes of hotel properties reported RevPAR growth in February. Luxury Class hotels led the market, growing both RevPAR to $477 (+15.7%) and ADR to $587 (+12.0%), with occupancy rising to 81.3 percent (+2.6 percentage points). Upper Class (+11.1%), Upper Midscale Class (+10.9%), and Midscale & Economy Class (+13.9%) hotels each posted double-digit RevPAR increases for February. Upper Upscale Class properties also did well in February with a 6.3 percent increase in RevPAR.
Among Hawaii’s four island counties, hotel properties on the island of Hawaii led the state in RevPAR growth in February, increasing RevPAR to $263 (+18.6%), which was boosted by increases in ADR to $306 (+15.2%) and occupancy to 85.9 percent (+2.4 percentage points).
In February, Maui County hotel properties led the island counties in total RevPAR at $355 (+16.2%), total ADR at $430 (+12.2%), and growth of occupancy, increasing 2.9 percentage points to 82.7 percent.
Kauai hotel properties also recorded a strong increase in RevPAR to $256 (+16.1%) in February, boosted by increases in ADR to $311 (+15.7%) and occupancy of 82.2 percent (+0.3 percentage points).
Oahu hotel properties recorded the highest occupancy at 87.4 percent (+1.7 percentage points) in February, along with modest increases in RevPAR to $205 (+3.6%) and ADR to $234 (+1.6%).
Of the state’s resort regions, Wailea hotel properties on Maui earned the highest RevPAR at $592 (+23.2%), highest ADR at $652 (+19.4%) and highest rate of occupancy at 90.8 percent (+2.8 percentage points) in February.
Additionally, hotel properties in the Lahaina-Kaanapali-Kapalua resort area reported growth in RevPAR to $295 (+12.6%) and ADR to $367 (+10.6%), with occupancy also increasing to 80.7 percent (+1.4 percentage points).
Hotel properties in the Kohala Coast resort area on the island of Hawaii reported strong growth in RevPAR to $373 (+23.1%) in February, driven by an increase in ADR to $425 (+18.7%) and higher occupancy of 87.8 percent (+3.1 percentage points).
Waikiki hotel properties also performed well in February with increases in both RevPAR to $203 (+3.1%) and ADR to $230 (+1.5%) and occupancy of 88.0 percent (+1.4 percentage points).