Arrivals spur revenue growth
Maui hotel guests paid an average of about $231 a night during November, an almost 5 percent increase over the same month in 2011, according to a new report by Smith Travel Research and Hospitality Advisors.
Occupancy at Maui hotels in November was up by 2 percent year over year to 70.6 percent.
“Maui’s growth was spurred by increases in visitor arrivals from the U.S. West (up by 11.4 percent), U.S. East (up 5.3 percent), Japan (up 10.9 percent), and Canada (up 8.5 percent),” the report said.
It also noted that Wailea’s luxury properties did particularly well in November, with a 14 percent gain in occupancy to 79.5 percent and a more than 16 percent boost in revenue per available room, or RevPAR, to $276.25.
RevPAR is a key metric that represents the average daily rental revenue earned per available room during a given period.
Islandwide, Maui hotels saw revenue per available room of $163 in November, an 8 percent boost over November 2011.
For the first 11 months of 2012, the average daily rate at Maui hotels was at $256.22, up from $244.48 during the first 11 months of 2011, representing a 5 percent increase.
Occupancy for the first 11 months of 2012 was up by 2 percent over the previous year to 72.8 percent islandwide.
“Hawaii’s hotel performance during the shoulder period has been nothing short of astounding with much of the record revenues achieved by Oahu and Maui,” Joseph Toy, president and chief executive officer of Hospitality Advisors, said in a statement. “While the Big Island continues to struggle, we expect to see strength across all islands in the first quarter.”
Oahu had the highest November occupancy at 81.9 percent, while the island’s average daily hotel rate increased by more than 5 percent to $183 for the month.
The report said that Waikiki hotels saw a record-breaking November with new highs set for occupancy at 83 percent and an average daily room rate of more than $183.