ASSOCIATED PRESS
While hotel occupancy rates slipped some during July, room revenues were down further. Revenue per available room fell to $115.24 from $121.71 a year ago.
Occupancy slips After two months of increases, hotel and resort occupancy fell 3.3 percent in July from the year before, according to a monthly survey by industry consultant PKF-Hawaii LLP.
Statewide rate falls 3.3%
after 2 months of gainsStar-Bulletin Staff
Room revenues dropped 5.3 percent, continuing a slide that began after Sept. 11.
"Expectations of more lean months lay ahead as the possibility of war with Iraq enters in the mix, the ongoing war on terrorism, the conflict in the Middle East, and questions concerning the U.S. economy, particularly with the practices of corporate America and the stock market's spiral," said Daisy Aio, director of management and tourism consulting for PKF-Hawaii.
Statewide, rooms were 77 percent full in July, a decrease of 3.3 percent from 79.7 percent in the same month last year, PKF said. The average daily room rate was off slightly at $149.62 compared with $152.80. But a more accurate financial indicator, revenue per available room, fell to $115.24 from $121.71.
PKF's survey covers 74 hotels and 55 resort condominiums, representing a little less than half the total rooms in Hawaii.
Hotels fared worse than resort condominiums. Hotel occupancy fell 4 percent to 78 percent full, while condominium occupancy rose 0.5 percent to 72 percent.
In the total market, every major island saw occupancy decreases, except Kauai, where occupancy rose 0.9 percent to 78.6 percent. Kauai's room revenue dipped 1.2 percent to $119.88 from $121.29.
Waikiki occupancy fell to 77.6 percent from 79.6 percent, while room revenues dropped 6 percent to $81.86 from $87.04.
On the Big Island, the drop in room revenues was the most pronounced, falling 10 percent to $126.14 from $140.25 last year. Hardest hit was the upscale Kohala Coast, where room revenues fell more than $20 to $162.67 from $183.72, a drop of 11.5 percent. Islandwide, occupancy was 71.2 percent, compared to 76.3 percent last year.
Maui's occupancy fell 5.9 percent to 79.5 percent from 83.9 percent. Room revenues dropped 4.1 percent to $169.80 from $177.06.
