Kaua’i led the state in October occupancies for both the total market and the hotel market, according to figures released by the Honolulu management and consulting firm PKF-Hawai’i. Kaua’i’s overall occupancy rate in October was 63.5 percent, just ahead of
Kaua’i led the state in October occupancies for both the total market and the hotel market, according to figures released by the Honolulu management and consulting firm PKF-Hawai’i.
Kaua’i’s overall occupancy rate in October was 63.5 percent, just ahead of Maui at 62.2 percent. The state’s rate was 59 percent, compared to 77.1 percent in October of last year.
In the hotel-only segment, the island’s rate was 69.4 percent, again ahead of Maui’s 66.1 percent. Statewide hotel-only occupancy in October was 60.6 percent, down from 78.4 percent in October of 2000.
Resort condominiums on Kaua’i continued to slump, with the October occupancy rate 48.6 percent. The state figure was 51.4 percent in October of this year, down from 70.9 percent the same month last year.
North Kaua’i hotels in October fueled the state’s highest county occupancy rate in the total (hotels and resort condominiums combined) category, with a rate of 68.4 percent, still way down from the October 2000 figure of 84 percent. Central Kaua’i properties stayed as close to normal as possible considering the events of September 11, recording an occupancy rate among the hotels of 64.5 percent, down from 66.5 percent in October of last year.
Properties in Kona on the Big Island had the best destination occupancy in October, at 71.5 percent.
For the first 10 months of this year, still in the overall market, Kaua’i’s occupancy rate plunged to 70 percent from 77.3 percent over the same period in 2000, with south Kaua’i properties leading the way with an occupancy rate of 72 percent. The state’s 10-month rate this year was 73.8 percent, down from 79.2 percent during the same period in 2000. Maui and O’ahu both held their own in terms of overall hotel occupancies for the first 10 months of this year, compared to the same period last year.
For the first 10 months this year, south shore hotels had a healthy 80.5 percent occupancy rate, second among destinations in the state behind Ka’anapali on Maui (81.9 percent). The island as a whole had a hotel-only occupancy rate of 74.3 percent, down from 82.3 percent over the same period in 2000.
Statewide hotel occupancy for the first 11 months was 75 percent, down from 79.7 percent over the same period last year.
North Kaua’i resort condominiums led the island in occupancies in October, at 67.8 percent, tops in the state among individual destinations. The state average was 51.4 percent, with all destinations registering lower occupancies for resort condominiums in October of this year compared to October 2000.
For the first 10 months of this year, Kaua’i’s resort condominium occupancy rate of 58.3 percent was worst in the state among the counties. The state came in at 67.3 percent, central Kaua’i properties did best on this island (63.5 percent), and all areas showed declines in resort condominium occupancy compared to the same period last year.
On the mainland, a double whammy of a recession plus a terrorist-inspired fear of flying are pushing hopes for increased hotel room revenues into the late-2002 and early 2003. Such reports may be bad news for the Hawai’i hotel industry as well.
“The fallout from the September 11 tragedy continues in Hawai’i, as statewide occupancies declined 23.5 percent for the month of October,” said Ernie Watari, chairman and chief executive officer of PKF-Hawai’i.
“The presidential signing of the airline security bill hopes to lift confidence in the airline industry and promote air travel, and while news of the war effort in Afghanistan is encouraging, as occurred during the gulf war, people hesitate to travel during times of war,” he said.
“In addition, with historical trends showing November and December as off-peak months, the low occupancies may continue for Hawai’i’s ailing visitor industry,” said Watari.
