Hotel performance report: In July, Kaua‘i led counties in revenue per available room

Hotels throughout the state of Hawai‘i reported slightly higher occupancy but lower average daily rate and revenue per available room in July 2024 compared to July 2023.

When compared to pre-pandemic July 2019, statewide average daily rate and revenue per available room were higher in July 2024 but occupancy was lower, the State of Hawaiʻi Department of Business, Economic Development & Tourism reported Wednesday.

Statewide revenue per available room in July 2024 was $301 (-4.1%), with average daily rate at $385 (-5.5%) and occupancy of 78.4% (+1.2 percentage points) compared to July 2023.

Compared with July 2019, revenue per available room was 16.3% higher, driven by higher average daily rate (+26.5%) which offset lower occupancy (-6.9 percentage points).

The report’s findings utilized data compiled by STR, Inc., which conducts the largest and most comprehensive survey of hotel properties in the Hawaiian Islands. For July 2024, the survey included 171 properties representing 48,181 rooms, or 86.2% of all lodging properties with 20 rooms or more in the Hawaiian Islands, including those offering full service, limited service, and condominium hotels. Vacation rental and timeshare properties were not included in this survey.

Statewide Hawai‘i hotel room revenues totaled $522.1 million (-4.3% vs. 2023, +20.3% vs. 2019) in July 2024. Room demand was 1.4 million room nights (+1.3% vs. 2023, -4.9% vs. 2019) and room supply was 1.7 million room nights (-0.2% vs. 2023, +3.5% vs. 2019).

Luxury class properties earned revenue per available room of $554 (-2.8% vs. 2023, +10.3% vs. 2019), with average daily rate at $867 (-4.4% vs. 2023, +43.2% vs. 2019) and occupancy of 63.9% (+1.1 percentage points vs. 2023, -19.1 percentage points vs. 2019).

Midscale & Economy Class properties earned revenue per available room of $201 (+4.2% vs. 2023, +33.6% vs. 2019) with average daily rate at $251 (+2.7% vs. 2023, +41.2% vs. 2019) and occupancy of 80.0% (+1.2 percentage points vs. 2023, -4.6 percentage points vs. 2019).

Maui County hotels continued to be impacted by the August 8, 2023 wildfires. Maui County hotels achieved revenue per available room of $346 (-20.6% vs. 2023, -3.3% vs. 2019), with average daily rate at $573 (-12.4% vs. 2023, +32.4% vs. 2019) and occupancy of 60.5% (-6.3 percentage points vs. 2023, -22.3 percentage points vs. 2019).

Maui’s luxury resort region of Wailea had revenue per available room of $560 (-2.8% vs. 2023, -12.4% vs. 2019), with average daily rate at $812 (-9.3% vs. 2023, +16.4% vs. 2019) and occupancy of 69.0% (+4.6 percentage points vs. 2023, -22.7 percentage points vs. 2019). The Lahaina/Kā‘anapali/Kapalua region had revenue per available room of $270 (-34.0% vs. 2023, -10.3% vs. 2019), average daily rate at $466 (-19.8% vs. 2023, +27.4% vs. 2019) and occupancy of 57.9% (-12.4 percentage points vs. 2023, -24.4 percentage points vs. 2019).

Kaua‘i hotels led the counties in July 2024 revenue per available room at $358 (+7.4% vs. 2023, +55.0% vs. 2019), with average daily rate at $453 (-0.1% vs. 2023, +50.5% vs. 2019) and occupancy of 79.0% (+5.5 percentage points vs. 2023, +2.3 percentage points vs. 2019).

Hotels on the island of Hawai‘i reported revenue per available room at $295 (-1.4% vs. 2023, +33.2% vs. 2019), with average daily rate at $436 (-0.3% vs. 2023, +64.4% vs. 2019), and occupancy of 67.6% (-0.8 percentage points vs. 2023, -15.8 percentage points vs. 2019).

Kohala Coast hotels earned revenue per available room of $419 (-5.4% vs. 2023, +29.6% vs. 2019), with average daily rate at $561 (-4.7% vs. 2023, +49.1% vs. 2019), and occupancy of 74.7% (-0.5 percentage points vs. 2023, -11.2 percentage points vs. 2019).

O‘ahu hotels reported revenue per available room of $274 (+5.9% vs. 2023, +19.1% vs. 2019) in July, average daily rate at $310 (+1.4% vs. 2023, +18.7% vs. 2019) and occupancy of 88.3% (+3.8 percentage points vs. 2023, +0.3 percentage points vs. 2019). Waikīkī hotels earned revenue per available room of $261 (+4.9% vs. 2023, +16.9% vs. 2019), with average daily rate at $293 (+0.7% vs. 2023, +15.3% vs. 2019) and occupancy of 89.0% (+3.6 percentage points vs. 2023, +1.2 percentage points vs. 2019).

Tables of hotel performance statistics, including data presented in the report are available for viewing online here.