HAWAII The hotel industry in Hawaii has recovered somewhat from a devastatingly poor 2009, but its total room revenue in 2010 remains 18% off the peak year of 2006.
Hawaii hotels pulled in US$2.55 billion last year, according to data from Hospitality Advisors LLC. That is an 8.7% improvement over 2009, but remains well short of the US$3.12 billion taken in during 2006.
Hoteliers on the islands have yet to see ADR recover, falling 1.6% last year to US$174.33. Still, with occupancy rising 5.9 percentage points to 70.7%, Hawaii hotels posted 2010 RevPAR of US$123.25, which is 7.4% higher than the prior year.
“What we saw in 2009 and 2010 was that the revenues essentially evaporated from the market, dampening profitability and short-circuiting debt services” says Joseph Toy, Hospitality Advisors’ president and CEO.