Hotel revenues fell a lot in 2009 - but not at year's end - Hawaii News Now - KGMB and KHNL

Hotel revenues fell a lot in 2009 - but not at year's end

By Howard Dicus - bio | email

HONOLULU (HawaiiNewsNow) - Hawaii hotels took a bath in 2009, but the damage was mostly done by the end of September, a possible sign that 2010 will see at least some recovery.

Hotel revenues across the state fell $741 million to less than $3.6 billion, with $501 million in losses from lower room rates and the rest from fewer room nights. Hotel revenues were down 17% from 2008, which had been down 7% from the peak year of 2006.

The figures came Tuesday from Hospitality Advisors LLC, the same research firm that does the weekly hotel occupancy survey and the monthly report on revpar - revenue per available room.

"Most of the 2009 market losses were sustained during the first nine months of the year," said Hospitality Advisors CEO Joe Toy. "Some signs of demand stability began to appear in the fourth quarter."

For the full year, Oahu hotel occupancy was 73%, with 62% in Maui County, 60% on Kauai, and less than 55% on the Big Island. There was a wide disparity between 75% occupancy in Waikiki versus 63% occupancy on the rest of Oahu, but not as much difference from district to district on other islands.

Statewide occupancy was 66.5%, third highest in the United States. Occupancy was 77% in New York and 72% in San Francisco. In fourth and fifth place were Miami, 65%, and Washington D.C., 65%. For average room rate, Hawaii came in second to New York, with Washington third followed by Miami and Boston. Hawaii was also second to New York on revpar.

Copyright 2010 HawaiiNewsNow. All rights reserved.

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