HONOLULU — According to a new report, Hawaii’s hotel industry has set a new first-quarter revenue record.
HONOLULU — According to a new report, Hawaii’s hotel industry has set a new first-quarter revenue record.
The Honolulu Star-Advertiser reports that a report released Tuesday showed gains in March occupancy, average daily rate and revenue per available room, which helped statewide hotels set a new first-quarter total hotel revenue record of $1.4 billion.
Oahu lagged behind and had flat first-quarter room rates and slight decreases in occupancy and revenue. Kauai, Maui and Hawaii Island all posted gains in occupancy, average daily rate and revenue per available room.
Despite the gains, president and CEO of Hospitality Advisors Joseph Toy says there is growing uncertainty for the market. As a result, hoteliers have been offering more deals and opening up additional kamaaina rates even during peak periods.