July 2024 Hawai‘i Hotel Performance Report: Room demand up to 1.4 million room nights

Hawai’i hotels statewide reported slightly higher occupancy but lower average daily rate (ADR) and revenue per available room (RevPAR) in July 2024 compared to July 2023. When compared to pre-pandemic July 2019, statewide ADR and RevPAR were higher in July 2024 but occupancy was lower.

Statewide RevPAR in July 2024 was $301 (-4.1%), with ADR at $385 (-5.5%) and occupancy of 78.4 percent (+1.2 percentage points) compared to July 2023 (Figure 1). Compared with July 2019, RevPAR was 16.3 percent higher, driven by higher ADR (+26.5%) which offset lower occupancy (-6.9 percentage points) (Figure 3).

The report’s findings utilized data compiled by STR, Inc., which conducts the largest and most comprehensive survey of hotel properties in the Hawaiian Islands. For July 2024, the survey included 171 properties representing 48,181 rooms, or 86.2 percent of all lodging properties with 20 rooms or more in the Hawaiian Islands, including those offering full service, limited service, and condominium hotels. Vacation rental and timeshare properties were not included in this survey.

Statewide Hawai’i hotel room revenues totaled $522.1 million (-4.3% vs. 2023, +20.3% vs. 2019) in July 2024. Room demand was 1.4 million room nights (+1.3% vs. 2023, -4.9% vs. 2019) and room supply was 1.7 million room nights (-0.2% vs. 2023, +3.5% vs. 2019) (Figure 2).

Luxury Class properties earned RevPAR of $554 (-2.8% vs. 2023, +10.3% vs. 2019), with ADR at $867 (-4.4% vs. 2023, +43.2% vs. 2019) and occupancy of 63.9 percent (+1.1 percentage points vs. 2023, -19.1 percentage points vs. 2019). Midscale & Economy Class properties earned RevPAR of $201 (+4.2% vs. 2023, +33.6% vs. 2019) with ADR at $251 (+2.7% vs. 2023, +41.2% vs. 2019) and occupancy of 80.0 percent (+1.2 percentage points vs. 2023, -4.6 percentage points vs. 2019).

Maui County hotels continued to be impacted by the August 8, 2023, wildfires. Maui County hotels achieved RevPAR of $346 (-20.6% vs. 2023, -3.3% vs. 2019), with ADR at $573 (-12.4% vs. 2023, +32.4% vs. 2019) and occupancy of 60.5 percent (-6.3 percentage points vs. 2023, -22.3 percentage points vs. 2019). Maui’s luxury resort region of Wailea had RevPAR of $560 (-2.8% vs. 2023, -12.4% vs. 2019), with ADR at $812 (-9.3% vs. 2023, +16.4% vs. 2019) and occupancy of 69.0 percent (+4.6 percentage points vs. 2023, -22.7 percentage points vs. 2019). The Lahaina/Kā‘anapali/Kapalua region had RevPAR of $270 (-34.0% vs. 2023, -10.3% vs. 2019), ADR at $466 (-19.8% vs. 2023, +27.4% vs. 2019) and occupancy of 57.9 percent (-12.4 percentage points vs. 2023, -24.4 percentage points vs. 2019).

Kaua‘i hotels led the counties in July 2024 RevPAR at $358 (+7.4% vs. 2023, +55.0% vs. 2019), with ADR at $453 (-0.1% vs. 2023, +50.5% vs. 2019) and occupancy of 79.0 percent (+5.5 percentage points vs. 2023, +2.3 percentage points vs. 2019).

Hotels on the island of Hawai’i reported RevPAR at $295 (-1.4% vs. 2023, +33.2% vs. 2019), with ADR at $436 (-0.3% vs. 2023, +64.4% vs. 2019), and occupancy of 67.6 percent (-0.8 percentage points vs. 2023, -15.8 percentage points vs. 2019). Kohala Coast hotels earned RevPAR of $419 (-5.4% vs. 2023, +29.6% vs. 2019), with ADR at $561 (-4.7% vs. 2023, +49.1% vs. 2019), and occupancy of 74.7 percent (-0.5 percentage points vs. 2023, -11.2 percentage points vs. 2019).

O‘ahu hotels reported RevPAR of $274 (+5.9% vs. 2023, +19.1% vs. 2019) in July, ADR at $310 (+1.4% vs. 2023, +18.7% vs. 2019) and occupancy of 88.3 percent (+3.8 percentage points vs. 2023, +0.3 percentage points vs. 2019). Waikīkī hotels earned RevPAR of $261 (+4.9% vs. 2023, +16.9% vs. 2019), with ADR at $293 (+0.7% vs. 2023, +15.3% vs. 2019) and occupancy of 89.0 percent (+3.6 percentage points vs. 2023, +1.2 percentage points vs. 2019).

The article July 2024 Hawai‘i Hotel Performance Report: Room demand up to 1.4 million room nights first appeared in TravelDailyNews International.