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The Honolulu Advertiser
Updated at 6:57 p.m., Thursday, March 12, 2009

Aston Hotels revenue takes hit from falling visitor counts

Advertiser Staff

Lower visitor counts played a role in Aston Hotels & Resorts' revenue falling by one-fifth in the fourth quarter, according to financial results released by Aston's parent company, Interval Leisure Group.

The report shows Aston's top line shrank to $14 million during the October to December period, down from $17.5 million a year earlier.

Interval said Aston's results were hurt by lower occupancy and a lower average daily rate but that Aston's results were generally tracking comparable properties in Hawai'i. Interval, which bought Aston in May 2007, said it recorded a non-cash goodwill impairment charge of $34.3 million during the fourth quarter.

Aston, which was previously known as ResortQuest Hawaii, provides hotel, resort management and vacation rental services for more than 4,500 units in Hawai'i.