Isle’s hotel occupancy, daily room rates rise
Maui’s hotel occupancy rate rose 2.4 percentage points to 72.6 percent in 2012 and the average daily rate for rooms increased 4.5 percent to $257.95, according to a new report by Smith Travel Research and Hospitality Advisors.
The island’s RevPAR, or revenue per available room, rose 8 percent to $187.27 in 2012 from $173.32 in 2011, the highest in the state, the report said.
Visitor arrivals to Maui rose 5.9 percent, which helped occupancy in Wailea increase by 7.3 percentage points over 2011 to 77.4 percent. Wailea’s ADR increased slightly by 0.2 percent to $387.34, and RevPAR rose 10.6 percent due to higher demand and ended the year at $299.80.
The Lahaina-Kaanapali-Kapalua area had occupancy at 73.6 percent, up from 71.8 percent for 2012. For the year, the area had an ADR of $235.06, up from $223.58 in 2011, and a RevPAR of $173, up 7.8 percent from $160.53.
Statewide, hotel room revenue reached $3.26 billion for 2012, up 4.5 percent over the previous record set in 2006 and 13.8 percent higher than 2011, the report said. When combined with sales from food and beverage, retail, parking and other revenue sources, total hotel industry revenue hit about $4.81 billion, an all-time high.
Hawaii’s ADR rose 7.5 percent to a new high of $204.15, and occupancy jumped 3.7 percentage points to 76.9 percent for 2012. RevPAR ended the year with a gain of 13 percent to a new record of $156.99.
Oahu led all islands with occupancy of 84.7 percent for 2012, up 4 percentage points from 2011 and just off the record 85.3 percent in 2005. ADR was up 11.2 percent to $183.51.
“Although Hawaii’s hotel industry had a record-breaking year, it was primarily driven by the Oahu market,” said Joseph Toy, president and chief executive officer of Hospitality Advisors, noting the gap between Oahu and the Big Island. “As the market continues to strengthen in 2013, we expect that gap to narrow.”
The Big Island’s occupancy for 2012 rose 3.8 percentage points to 62 percent. ADR for the year was $192.57, or 3.3 percent higher than the previous year. RevPAR rose 10.1 percent to $119.39.
Occupancy on Kauai rose 4.9 percentage points to 68.8 percent, the largest increase year-on-year of the counties. ADR grew 4.7 percent to $212.85, a record for Kauai. RevPAR gained 12.7 percent to $146.44.
For December, Maui logged a 5.1 percentage increase in occupancy over the same month in 2011 to 72.3 percent. Increases in the meetings, convention and incentive market, up 49.8 percent, and those traveling to get married and/or honeymoon, up 22.4 percent, drove the strong December number.
ADR rose 1.2 percent to $309.85, a record monthly high, while RevPAR gained 8.9 percent to $224.02. The luxury resort region of Wailea set a December record for occupancy at 79.9 percent, up 12 percentage points from the previous December. The strong gains offset the 1.5 percent decrease in ADR to $494.99. RevPAR was up 15.9 percent to a record $395.50.