Condo-hotels, timeshares grab bigger portion of room inventory

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While Hawaii's traditional hotels, 43,637 units strong and with 60% of the state's product inventory, hardly felt the bite, condo-hotel and timeshare units, the chief benefactors of new investment on the Islands, grew their shares of the inventory pie at the expense of hotels, according to a report by Hawaii's Dept. of Business, Economic Development & Tourism.

The annual Visitor Plant Inventory report, based on a survey done in May 2006 and released yesterday, shows hotels statewide lost 2,424 rooms, a 5.3% drop from the prior year.

Condominium-hotel and timeshare units picked up the difference.

Condo/hotels now number 17,235 units, or 23.8% of total inventory, second only to hotels. Their numbers grew by 13%, or 1,988 units, last year.

Timeshare units followed with 7,271 of total visitor units, representing an increase of 5% in 2006, or 344 units, compared with the prior year.

Oahu has the fewest properties of any of the Islands -- 213 properties -- but nearly half (46%) of all visitor accommodations in the state with 34,008 total rooms.

To contact reporter Margaret Myre, send e-mail to [email protected].

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