POSTED: 07:06 a.m. HST, Dec 13, 2012
A slight softening of demand for lodgings on Oahu is seen for 2013, according to PKF Hospitality Research LLC, an advisory firm specializing in the hospitality industry.
Demand for Oahu is seen edging downward by 0.9 percent in the PKF forecast for 2013 released this morning. However, it also predicts an increase of 10.4 percent in average daily room rates.
According to Mark Woodworth, PKF-HR president, the research is somewhat skewed by the “pall on lodging industry participants induced by the federal budget negotiations.”
Should the nation not fall off the so-called fiscal cliff, he said, a measure called RevPAR, or revenue per available room, will increase by 6 percent. However, should budget talks fail, Woodworth said “it can be assumed that RevPAR growth will be well below that.”
“Hoteliers are eager to begin enjoying what appears to be a four-year period of sustained high levels of prosperity. Unfortunately, there is so much uncertainty surrounding 2013 that no one overtly is showing the optimism that should exist.”