Hawaii hotels took in a record-breaking $2.45 billion in room revenue through the first nine months of this year, jumping 14.8% over the same period a year ago.
Statewide hotel occupancy also climbed 4.1 percentage points year over year, to 77.8%, through September, according to a Nov. 9 report by Hospitality Advisors and Smith Travel Research.
“The recovery in Hawaii’s hotel industry through the third quarter has been remarkable,” Joseph Toy, president and CEO of Hospitality Advisors, said in a statement. “With an average occupancy rate of 86.7% for the first nine months of the year, Waikiki has clearly been driving much of Hawaii’s success this year.”
Average daily room rates across the Islands were also up significantly through the third quarter, climbing 7.8% year over year, to a statewide average of $202.90, second nationally only to New York's average of $236.58.