HONOLULU (KHNL) - Hawaii's slow tourism economy has hurt the hotel industry statewide.
According to the latest Hawaii Hotel Flash Report released by Hospitality Advisors LLC, statewide hotel occupany fell by 6.5 percentage points to 74.2% while room rates declined by 0.8% to $211.53 for the month of July.
The softer hotel performance reflects a 14.1% drop in visitor arrivals.
"With such weakness during our traditionally high summer season, we will likely see a very sharp drop for 2008 when compared to last year," said Joseph Toy, President and CEO of Hospitality Advisors LLC.
Oahu hotels achieved slight occupancy and ADR gains, improving by 0.3 percentage points to 81.8%. Room rates also increased by 0.7% to $177.07.
Maui reported a 12.5 percentage point occupancy decline to 67.8% and a 0.2% ADR increase to $293.39.
On the Big Island, hotel occupancy fell by 16.6 percentage points to 58.6%, while ADR improved by 0.4% to $204.69.