According to a report released by Hospitality Advisors LLC and Smith Travel Research, hotels in the state of Hawaii earned $276 million in revenues in April 2013. The statewide average daily rate (ADR) was $217.56 and the revenue per available room (RevPAR) was $161.80. These numbers represented the highest amounts ever reached during the month of April. President and CEO of Hospitality Advisors, Joseph Toy, commented, “I think we’ll have a pretty good shoulder season, although we are starting to see a return to more stabilized growth rather than the exceptional growth that we saw over the last 12 months. We are clearly going from a pent-up growth demand period to a more normalized growth period. U.S. consumer confidence is still high, but pockets of uncertainty are starting to rise. An unfavorable yen exchange rate also is beginning to influence the Japan market. As a result, we are seeing more cautious travelers, who are booking their vacations closer to the date.”
Source: Honolulu Star Advertiser, 6-10-2013, 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
