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Hawaii hotels set record for total revenue

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Hotel and resort property owners now pay taxes at a rate of $12.40 for every $1,000 of value, and Caldwell’s budget package in March sought to raise that to $13.40 per $1,000.

Hawaii hotels, which set a record of $4.06 billion in total hotel revenue for the first nine months of the year, achieved the nation’s second-best average daily rate and revenue-per-available room behind New York. 

Through September, average daily rates climbed 4.9 percent to $241.28, according to a hotel flash report released by Hospitality Advisors LLC and STR on Wednesday. Revenue-per-available room reached $187.72, which was 4.8 percent higher than the previous year. At the same time, statewide occupancy remained flat at 77.8 percent because a .9 percent gain in visitor arrivals was negated by a 1 percent decrease in their length of stay. 

Monthly results for September contributed to the strength in the sector. Total hotel revenue for the September also set a record of $398 million, with room revenue alone contributing $269 million.

Statewide occupancy rose 2.5 percentage points to 76.2 percent. Room rates climbed 4.8 percent to $219.96, which led to revenue-per-available room gains of 8.3 percent to $167.61, both records for September.

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