Posted at 11:23 a.m., Tuesday, February 13, 2007
ResortQuest reports 1.1% drop in 4th-quarter revenue
Advertiser Staff
ResortQuest, which operates more than two dozen hotels and condominium resorts in Hawai'i as well as vacation rentals across the country, saw fourth-quarter revenue fall 1.1 percent year-over-year to $40.2 million, parent company Gaylord Entertainment Co. reported today.ResortQuest revenue for the full year 2006 grew 1.6 percent to $225.7 million compared to 2005.
Fourth-quarter revenue per available room — a key measure of profitability — grew 6.1 percent to $56.98, driven solely by an increase in rates. The Hawai'i and ski markets "performed well," while Florida and Gulf Coast markets still suffered in part because more travelers are hesitant to vacation in areas affected by hurricanes in previous years.
