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March 2024 Hawai‘i Hotel Performance Report: Slightly lower occupancy compared to March 2023

Hawaii

Statewide Hawai‘i hotel room demand was 1.3 million room nights (-2.0% vs. 2023, -2.0% vs. 2019).

Hawai‘i hotels statewide reported slightly lower occupancy, average daily rate (ADR) and revenue per available room (RevPAR) in March 2024 compared to March 2023. When compared to pre-pandemic March 2019, statewide ADR and RevPAR were higher in March 2024 but occupancy was lower.

Statewide RevPAR in March 2024 was $287 (-3.4%), with ADR at $384 (-0.9%) and occupancy of 74.6 percent (-1.9 percentage points) compared to March 2023. Compared with March 2019, RevPAR was 27.8 percent higher, driven by higher ADR (+35.0%) which offset lower occupancy (-4.2 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 2024, the survey included 171 properties representing 48,270 rooms, or 86.2 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.

Statewide Hawai‘i hotel room revenues totaled $497.5 million (-2.9% vs. 2023, +32.3% vs. 2019) in March 2024. Room demand was 1.3 million room nights (-2.0% vs. 2023, -2.0% vs. 2019) and room supply was 1.7 million room nights (+0.5% vs. 2023, +3.6% vs. 2019).

Luxury Class properties earned RevPAR of $539 (+1.8% vs. 2023, +22.3% vs. 2019), with ADR at $876 (-1.3% vs. 2023, +50.1% vs. 2019) and occupancy of 61.5 percent (+1.9 percentage points vs. 2023, -14.0 percentage points vs. 2019). Midscale & Economy Class properties earned RevPAR of $175 (-3.6% vs. 2023, +20.2% vs. 2019) with ADR at $240 (-1.5% vs. 2023, +33.6% vs. 2019) and occupancy of 73.0 percent (-1.6 percentage points vs. 2023, -8.2 percentage points vs. 2019).

Maui County hotels continued to be impacted by the August 8, 2023, wildfires, but still led the counties in March 2024 RevPAR due to comparatively higher ADR. Maui County hotels achieved RevPAR of $401 (-11.9% vs. 2023, +20.5% vs. 2019), with ADR at $581 (-10.1% vs. 2023, +36.8% vs. 2019) and occupancy of 69.1 percent (-1.4 percentage points vs. 2023, -9.3 percentage points vs. 2019). Maui’s luxury resort region of Wailea had RevPAR of $544 (-0.4% vs. 2023, -6.4% vs. 2019), with ADR at $811 (-6.8% vs. 2023, +26.4% vs. 2019) and occupancy of 67.1 percent (+4.3 percentage points vs. 2023, -23.5 percentage points vs. 2019). In March, hotels in the Lahaina/Kāʻanapali/Kapalua region were occupied by a mix of displaced Lahaina residents impacted by the fires, relief workers, and visitors. The Lahaina/Kā‘anapali/Kapalua region had RevPAR of $341 (-19.6% vs. 2023, +23.6% vs. 2019), ADR at $479 (-15.7% vs. 2023, +34.7% vs. 2019) and occupancy of 71.1 percent (-3.5 percentage points vs. 2023, -6.4 percentage points vs. 2019).

Kaua‘i hotels earned RevPAR of $326 (+6.5% vs. 2023, +58.7% vs. 2019), with ADR at $444 (+10.0% vs. 2023, +56.3% vs. 2019) and occupancy of 73.3 percent (-2.4 percentage points vs. 2023, +1.1 percentage points vs. 2019).

Hotels on the island of Hawai‘i reported RevPAR at $321 (-1.1% vs. 2023, +48.8% vs. 2019), with ADR at $475 (+10.5% vs. 2023, +73.3% vs. 2019), and occupancy of 67.7 percent (-7.9 percentage points vs. 2023, -11.1 percentage points vs. 2019). Kohala Coast hotels earned RevPAR of $485 (+2.3% vs. 2023, +57.2% vs. 2019), with ADR at $648 (+6.1% vs. 2023, +68.1% vs. 2019), and occupancy of 74.9 percent (-2.8 percentage points vs. 2023, -5.2 percentage points vs. 2019).

O‘ahu hotels reported RevPAR of $224 (+3.2% vs. 2023, +21.8% vs. 2019) in March, ADR at $284 (+4.4% vs. 2023, +23.8% vs. 2019) and occupancy of 78.7 percent (-0.9 percentage points vs. 2023, -1.3 percentage points vs. 2019). Waikīkī hotels earned RevPAR of $213 (+3.2% vs. 2023, +19.0% vs. 2019), with ADR at $268 (+3.9% vs. 2023, +20.1% vs. 2019) and occupancy of 79.3 percent (-0.6 percentage points vs. 2023, -0.8 percentage points vs. 2019).

First Quarter 2024

In the first quarter of 2024, Hawai‘i’s hotels earned $289 in RevPAR (-0.9% vs. 2023, +23.4% vs. 2019), with ADR at $378 (-2.7% vs. 2023, +29.8% vs. 2019) and occupancy of 76.5 percent (+1.4 percentage points vs. 2023, -4.0 percentage points vs. 2019).

Total statewide hotel revenues for the first quarter of 2024 were $1.5 billion (-0.6% vs. 2023, +27.4% vs. 2019). Room supply was 5.0 million room nights (+0.3% vs. 2023, +3.2% vs. 2019), and room demand was 3.8 million room nights (+2.2% vs. 2023, -1.9% vs. 2019).

Comparison to Top U.S. Markets

In comparison to the top U.S. markets, the Hawaiian Islands earned the highest first quarter 2024 RevPAR at $289 (-0.9%). Miami, Florida was second at $226 (+2.8%), followed by Las Vegas, Nevada at $186 (+15.3%).

The Hawaiian Islands also led the U.S. markets in first quarter 2024 ADR at $378 (-2.7%), followed by Miami, Florida at $276 (-0.4%) and San Francisco/San Mateo, California at $239 (-0.2%).

Miami, Florida topped the country in occupancy at 81.9 percent (+2.6 percentage points), followed by Las Vegas, Nevada at 78.3 percent (-0.4 percentage points) and Orlando, Florida at 77.4% (-1.6 percentage points). The Hawaiian Islands ranked fifth at 76.5 percent (+1.4 percentage points).

Comparison to International Markets

Hotels in the Maldives ranked highest for first quarter 2024 RevPAR for international “sun and sea” destinations at $563 (-0.1%), followed by French Polynesia ($448, -6.5%). Maui County ($401, -10.5%), Hawaiʻi Island ($322, +0.6%), Kauaʻi ($322, +4.2%), and O‘ahu ($228, +7.9%) ranked fourth, fifth, sixth, and tenth, respectively.

Hotels in the Maldives led in first quarter 2024 ADR at $746 (+0.0%), followed by French Polynesia ($707, +4.1%) and Maui County ($561, -12.8%). Hawaiʻi Island ($460, +8.0%), Kauaʻi ($433, +4.9%), and O‘ahu ($284, +4.1%) ranked fifth, seventh, and eleventh, respectively.

Puerto Vallarta led in occupancy for “sun and sea” destinations at 82.3 percent (-1.4 percentage points), followed by Aruba (81.7%, +9.6 percentage points) and Cancun (80.8%, +2.3 percentage points). O‘ahu (80.5%, +2.9 percentage points), Kauaʻi (74.3%, -0.5 percentage points), Maui County (71.5%, +1.8 percentage points), and Hawaiʻi Island (70.2%, -5.2 percentage points) ranked fourth, ninth, tenth, and eleventh, respectively.

Co-Founder & Chief Editor - TravelDailyNews Media Network | Website | + Posts

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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