Hawaii hotels bring in record $5.4B in revenue last year - Hawaii News Now - KGMB and KHNL

Hawaii hotels bring in record $5.4B in revenue last year

Waikiki Waikiki

HONOLULU (AP) - Hawaii's hotel industry generated a record $5.4 billion in revenue last year as average room rates climbed and more visitors traveled to the islands.

Industry consultant Hospitality Advisors LLC said Tuesday the average daily rate rose 5.5 percent to $242.63 last year.

Hotels got a boost from an increase in high-spending honeymooners and visitors in Hawaii for meetings and conventions.

Hospitality Advisors CEO Joseph Toy says the Hawaii market will likely moderate because of unfavorable exchange rates with Japan and other foreign markets.

He says higher hotel room rates and constrained supply are also having an effect.

Oahu occupancy averaged 84.4 percent in 2014, up 0.6 percent from the prior year. Occupancy was 72 percent on Maui, 70 percent on Kauai and 61.5 percent on the Big Island.

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