Hawaii hotel revenue breaks February record
Hotel revenues in the state reached a new record for the month of February of $472 million, according to Hospitality Advisors.
Room revenue also hit a February high of $320 million -- an increase of 5.1 percent from the same month last year.
But, hotel occupancy was down in February 0.9 percentage points to 84.8 percent.
The average daily rates also broke the February record with $251.13. The strong occupancy rate and average daily rate led to a new single month revenue per available room high of $212.96.
In February, nearly 90 percent of Oahu hotels were occupied. Waikiki hotels had an occupancy rate of 90.8 percent. Hospitality Advisors say domestic meetings, conventions and incentive market help drive a 5.8 percent increase in average daily rate.
Occupancy on Maui dipped slightly to 80.6 percent due, in part, to the addition of the Andaz Maui at Wailea. However the occupancy rate was strong enough to support a new February record in average daily rate of $331.02.
Kauai experienced a 2.2 percentage point decline in occupancy to 79.6 percent. The dip can be attributed to an 8.5 percent decrease in visitor arrivals.
Occupancy on the Big Island dropped by 1.8 percentage points to 76.5 percent.
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