Reported by Star-Bulletin staff & wire
Wednesday, April 9, 1997
Higher room rates kept Hawaii hotel revenues ahead of the year-earlier level, despite a drop in occupancy, according to the latest survey by Coopers & Lybrand L.L.P./Smith Travel Research. Hotel room revenues
climb 3.2% -- surveyJoseph Toy, head of hospitality consulting for Coopers & Lybrand Hawaii, said the 3.2 percent increase in total room revenues, to $220.4 million statewide, was due solely to higher rates. Toy described the decline in occupancy, which started in July, as "worrisome."
The survey, released yesterday, showed the average daily room rate in February up 5.7 percent from a year earlier, at $129.76 per occupied room, while average occupancy was down 3.5 percentage points at 85 percent. The survey covered 63 percent of the tourist accommodations in Hawaii.
The results were similar to those reported two weeks ago by PKF-Hawaii from a 55 percent sampling.
CINCINNATI -- Procter & Gamble Co. is buying Tampax maker Tambrands Inc. for $1.85 billion, giving P&G control of the market leader in the tampon industry. Procter & Gamble
to buy Tambrands Inc.P&G, which makes Always sanitary pads, plans to use its worldwide marketing might to open up new markets for Tampax, Tambrands only product.
P&G Chairman and Chief Executive John E. Pepper said the company would look to increase Tampax sales in more countries, noting that Latin America and Asia account for less than 5 percent of the brand's volume. P&G also wants to increase the U.S. market by developing new feminine hygiene products.
P&G's Always brand is the top sanitary pad in the United States and adding Tampax would put it further ahead of rivals like Kotex maker Kimberly-Clark Corp.
The $1.85 billion deal for Tambrands is the biggest yet for P&G, the Cincinnati-based consumer products company with $35 billion in yearly sales. P&G said it will pay $50 in cash for each Tambrands share.