Gauge of Isle hotel profitability rises
A key gauge of hotel profitability and performance has risen in Hawaii for the first time in two years.
Hospitality Advisors said today that revenue per available room reached $122.43 in March, up from $119.21 in March 2009.
The president and CEO of the local travel industry consulting firm, Joseph Toy, says a rise in monthly occupancy was finally able to outpace room discounting for a modest revenue gain for the first time in 24 consecutive months.
Hotel occupancy throughout Hawaii stood at 70.6 percent in March, compared with 65.2 percent in the same month last year.
At the same time, the average daily room rate declined from $182.83 to $173.41.
Toy says confidence continues to slowly rebuild in the market.