PRINCEVILLE — Luxury hotels on Kaua’i, like the Princeville Hotel here, led the state in occupancy rates among classes of hotels in March, with a rate of 92.2 percent. But there was good news for nearly every size and quality
PRINCEVILLE — Luxury hotels on Kaua’i, like the Princeville Hotel here, led
the state in occupancy rates among classes of hotels in March, with a rate of
92.2 percent.
But there was good news for nearly every size and quality of
hotel on the island that month, according to figures released recently by
PKF-Hawai’i, a management and accounting firm based on O’ahu.
This island’s
deluxe hotels posted the largest gain in average daily room rate (ADR) in the
state in March among quality classes, to $128.21 from $106.82 in March of 1999,
a 20 percent increase.
Hotels under 100 rooms on Kaua’i recorded the
largest increase in ADR among all hotels characterized by size, at $143.90 in
March of this year compared to $112.13 in March of 1999, an increase of 28.3
percent.
Bottom line: Kaua’i remains a hot property. More people are coming
to the island, staying in hotels, and spending more money on
accommodations.
And the outlook for summer is sizzling as well, with some
hotels sold out for portions of July and August already.
Among luxury
hotels on the island, the March, 2000 occupancy rate of 92.2 percent eclipses
the robust 88.8 percent rate recorded in March of 1999.
Average daily room
rates at luxury properties on the island soared to $254.41 per night in March
of this year, compared to $238.82 in March of 1999.
Deluxe and standard
properties on Kaua’i showed increased occupancies in March of this year
compared to March of 1999, while first-class hotels showed a slight dip, from
79.5 percent in March of 1999 compared to 79.1 percent in March of this
year.
On Kaua’i, only standard properties experienced a drop in ADRs, from
$67.05 a night in March of 1999, compared to $64.66 a night in March of this
year.
Kaua’i’s overall occupancy rate in March of this year was 80.6
percent, up from 76.8 percent in March of 1999.
Luxury hotels paced the
island’s occupancy rate for the first quarter of this year, at 81.0 percent, up
from 79.9 percent last year.
All classes of hotels showed increased
occupancy levels in the first quarter of this year compared to the same period
last year.
The first-quarter occupancy rate for Kaua’i this year was 73.0
percent, up from 71.7 percent for the same period last year.
Hotels with
100 to 200 rooms had the best occupancy rate for March of this year, at 77.3
percent, compared to 75.3 percent for the same period in 1999.
For the
first quarter of this year, hotels in that same size class on the island had
the best occupancy rate as well, at 73.1 percent, compared to 71.3 percent for
the first quarter of 1999.
Statewide, all classes of hotels (luxury, first
class, deluxe, standard and budget) showed occupancy increases in March of this
year compared to March of 1999, with the exception of the budget class.
The
statewide occupancy rate in March was 83.2 percent, compared to 77.4 percent in
March of 1999, paced by the luxury hotels coming in at 87.2 percent, compared
to 78.6 percent in March of 1999.
Hotels from 351 to 500 rooms had the
greatest occupancy statewide in March, at 87.3 percent, compared to 81.3
percent in March of 1999.
PKF-Hawai’i has tracked the hotel industry for
the Hawai’i Hotel Association since 1972. Its most recent report surveyed 147
properties representing 57 percent of available rooms in the state (hotel and
resort condominium).