According to a report released by Hospitality Advisors LLC and Smith Travel Research, Hawaii has the highest average hotel room rates in the nation, beating out New York City and Miami in the runnings. During the first quarter of 2013, a hotel guest in Hawaii spent $233.33 per night, over 13 percent more then the same period a year prior. In comparison, guests spent $10 less per night in Miami and $23 less per night in New York City.
Keith Vieira, senior vice president and director of operations for Starwood Hotels & Resorts in Hawaii and French Polynesia, commented, “From a hotelier standpoint, if we don’t add more inventory, we’ll be fine. But to grow our overall economy, we need to grow tourism. We need managed growth. To me that’s about 400 new rooms or one new property or conversion a year.”
Hawaii Economist Paul Brewbaker of TZ Economics, added, “At higher rates, visitors clipped a day off the length of their stay. When the room hits $380, people say, ‘Holy crap! Why not stay five days instead of six?’ You can imagine that conversation because we all have it when we go to NYC. If total visitor spending is down in real terms and lodging costs are going up, then something else is going down.”
Source: Honolulu Star Advertiser, 5-12-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
