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October: Strong hotel revenue, occupancy

LIHU‘E — A banner month for passenger counts at Lihu‘e Airport proved fruitful for the local hotel industry, which put up strong revenue and occupancy numbers in October.

Hotels on Kaua‘i earned revenue per available room of $287 in October, which was up 41.4 percent from October 2021, according to the monthly Hawai‘i Hotel Performance Report published by the Hawai‘i Tourism Authority.

The most recent revenue per available room figure was also up 56.4 percent from the pre-pandemic period of October 2019.

The report also found the average daily rate at hotels on Kaua‘i climbed 18.8 percent to $364 in October, and 43.6 percent from October 2019. Occupancy came in at 78.7 percent in October, which was up 12.6 percent from October 2021 and 6.4 percent from October 2019.

The data reflected an island bustling with visitors in the first full month of fall.

“If you look up visitor stays … you would find that number is well above where it was at the end of 2019,” said Carl Bonham, executive director of The Economic Research Organization of the University of Hawai‘i, on what drove demand for hotel rooms and prices.

The hotel data is a direct reflection of strong activity at Lihu‘e Airport last month, a period in which passenger deplanements were up 14.6 percent to set a new high for the month of October.

Statewide data

Hotels on neighboring islands also posted strong revenue numbers. Maui hotels achieved revenue per available room of $344 in October, which was up 15.5 percent from October 2021 and 33.4 percent from October 2019.

The report also showed the average daily rate at hotels on Maui was up 7.8 percent to $528 in October, and 56.4 percent from October 2019. Occupancy measured 65.1 percent in October, which was up 4.4 percent in October 2021, but down 11.2 percent in October 2019.

Hawai‘i Island hotels pulled in revenue per available room of $271 last month, up 41.9 percent from October 2021 and 53.8 percent from October 2019.

The average daily rate on the Big Island rose 16.8 percent to $361 in October, and 51.6 percent from October 2019. Occupancy was 75.1 percent, which marked an increase of 13.3 percent and 1.1 percent from comparable periods in 2021 and 2019.

O‘ahu hotels reported revenue per available room of $186 in October, an increase of 80.1 percent from October 2021, but down 1.4 percent from October 2019.

The average daily rate on O‘ahu was $254 last month, up 20.3 percent from October 2021 and 11.5 percent from October 2019. Occupancy was 73.2 percent in October, up 24.3 percent in October 2021, but down 9.6 percent from October 2019.

The report is produced using hotel survey information compiled by STR Inc. of Tennessee. The survey generally excludes properties with less than 20 lodging units, such as bed-and-breakfasts and single-family vacation rentals.

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Wyatt Haupt Jr., editor, can be reached at 808-245-0457 or whaupt@thegardenisland.com.
Source: The Garden Island

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