Hawaii Hotels Reported Stronger March Revenue

Hawaii hotels statewide reported stronger revenue per available room (RevPAR), average daily rate (ADR), and occupancy in March 2023 compared to March 2022. When compared to pre-pandemic March 2019, statewide ADR and RevPAR were also higher but occupancy rate was lower in March 2023.

According to the Hawaii Hotel Performance Report published by the Hawaii Tourism Authority (HTA), statewide RevPAR in March 2023 was $296 (+6.4%), with ADR at $387 (+4.0%) and occupancy of 76.5 percent (+1.7 percentage points) compared to March 2022. Compared with March 2019, RevPAR was 31.9 percent higher, driven by higher ADR (+35.9%) which offset lower occupancy (-2.3 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 March 2023, the survey included 153 properties representing 46,640 rooms, or 84.0 percent 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.

Hawaii hotel room revenues statewide totaled $509.1 million (+6.0% vs. 2022, +35.4% vs. 2019) in March 2023. Room demand was 1.3 million room nights (+2.0% vs. 2022, -0.3% vs. 2019) and room supply was 1.7 million room nights (-0.3% vs. 2022, +2.7% vs. 2019).

Luxury Class properties earned RevPAR of $537 (-2.6% vs. 2022, +21.8% vs. 2019), with ADR at $893 (-0.8% vs. 2022, +53.0% vs. 2019) and occupancy of 60.1 percent (-1.1 percentage points vs. 2022, -15.4 percentage points vs. 2019). Midscale & Economy Class properties earned RevPAR of $199 (+9.0% vs. 2022, +36.6% vs. 2019) with ADR at $258 (+8.2% vs. 2022, +43.5% vs. 2019) and occupancy of 77.3 percent (+0.6 percentage points vs. 2022, -3.9 percentage points vs. 2019).

Maui County hotels led the counties in March 2023 and achieved RevPAR of $455 (-0.5% vs. 2022, +36.7% vs. 2019), with ADR at $646 (+1.9% vs. 2022, +52.1% vs. 2019) and occupancy of 70.5 percent (-1.7 percentage points vs. 2022, -8.0 percentage points vs. 2019). Maui’s luxury resort region of Wailea had RevPAR of $635 (-4.8% vs. 2022, +9.1% vs. 2019), with ADR at $1,028 (+2.6% vs. 2022, +60.3% vs. 2019) and occupancy of 61.7 percent (-4.8 percentage points vs. 2022, -28.9 percentage points vs. 2019).

The Lahaina/Kā‘anapali/Kapalua region had RevPAR of $418 (+0.8% vs. 2022, +51.7% vs. 2019), ADR at $565 (+2.3% vs. 2022, +59.0% vs. 2019) and occupancy of 74.0 percent (-1.1 percentage points vs. 2022, -3.6 percentage points vs. 2019).

Kauai hotels earned RevPAR of $306 (-1.1% vs. 2022, +49.1% vs. 2019), with ADR at $404 (+4.1% vs. 2022, +42.0% vs. 2019) and occupancy of 75.8 percent (-4.0 percentage points vs. 2022, +3.6 percentage points vs. 2019).

Hotels on the island of Hawaii reported RevPAR at $329 (-4.4% vs. 2022, +52.2% vs. 2019), with ADR at $430 (-1.3% vs. 2022, +56.8% vs. 2019), and occupancy of 76.5 percent (-2.5 percentage points vs. 2022, -2.3 percentage points vs. 2019). Kohala Coast hotels earned RevPAR of $474 (-8.1% vs. 2022, +53.6% vs. 2019), with ADR at $611 (-6.7% vs. 2022, +58.5% vs. 2019), and occupancy of 77.6 percent (-1.1 percentage points vs. 2022, -2.5 percentage points vs. 2019).

Oahu hotels reported RevPAR of $216 (+20.0% vs. 2022, +17.9% vs. 2019) in March, ADR at $273 (+12.3% vs. 2022, +18.9% vs. 2019) and occupancy of 79.3 percent (+5.1 percentage points vs. 2022, -0.7 percentage points vs. 2019). Waikīkī hotels earned RevPAR of $206 (+19.5% vs. 2022, +15.3% vs. 2019), with ADR at $260 (+13.0% vs. 2022, +16.2% vs. 2019) and occupancy of 79.4 percent (+4.3 percentage points vs. 2022, -0.6 percentage points vs. 2019).