Hotels across the state of Hawaii reported slightly higher occupancy but lower average daily rate and revenue per available room in July 2024 compared to July 2023.
Compared to July 2019, before the pandemic, statewide average daily rate and revenue per available room were higher in July 2024, but occupancy rates were lower, the Hawaii State Department of Business, Economic Development and Tourism reported Wednesday.
National revenue per available room was $301 (-4.1%) in July 2024, with an average daily rate of $385 (-5.5%) and occupancy of 78.4% (+1.2 percentage points) compared to July 2023.
Compared to July 2019, revenue per available room was 16.3% higher. This was due to the higher average daily price (+26.5%), which offset the lower occupancy (-6.9 percentage points).
The report’s findings are based on 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 with 48,181 rooms, or 86.2% of all lodging properties with 20 or more rooms in the Hawaiian Islands, including full-service, limited-service, and condominium hotels. Vacation rentals and timeshare properties were not included in this survey.
Hotel room revenues across the state of Hawaii totaled $522.1 million in July 2024 (-4.3% vs. 2023, +20.3% vs. 2019). 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).
Luxury properties generated revenue per available room of $554 (-2.8% vs. 2023, +10.3% vs. 2019), with an average daily rate of $867 (-4.4% vs. 2023, +43.2% vs. 2019) and occupancy of 63.9% (+1.1 percentage points vs. 2023, -19.1 percentage points vs. 2019).
Mid- and economy-class hotels achieved revenue per available room of $201 (+4.2% vs. 2023, +33.6% vs. 2019) with an average daily rate of $251 (+2.7% vs. 2023, +41.2% vs. 2019) and an occupancy rate of 80.0% (+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 generated revenue per available room of $346 (-20.6% from 2023, -3.3% from 2019), with an average daily rate of $573 (-12.4% from 2023, +32.4% from 2019) and occupancy of 60.5% (-6.3 percentage points from 2023, -22.3 percentage points from 2019).
The luxury resort Wailea on Maui recorded revenue per available room of $560 (-2.8% vs. 2023, -12.4% vs. 2019), with an average daily rate of $812 (-9.3% vs. 2023, +16.4% vs. 2019) and an occupancy rate of 69.0% (+4.6 percentage points vs. 2023, -22.7 percentage points vs. 2019). The Lahaina/Kā’anapali/Kapalua region recorded revenue per available room of $270 (-34.0% vs. 2023, -10.3% vs. 2019), an average daily rate of $466 (-19.8% vs. 2023, +27.4% vs. 2019), and an occupancy rate of 57.9% (-12.4 percentage points vs. 2023, -24.4 percentage points vs. 2019).
Kaua’i hotels led the counties in July 2024 with revenue per available room of $358 (+7.4% from 2023, +55.0% from 2019), an average daily rate of $453 (-0.1% from 2023, +50.5% from 2019) and an occupancy rate of 79.0% (+5.5 percentage points from 2023, +2.3 percentage points from 2019).
Hotels on the island of Hawaii reported revenue per available room of $295 (-1.4% vs. 2023, +33.2% vs. 2019), an average daily rate of $436 (-0.3% vs. 2023, +64.4% vs. 2019), and an occupancy rate of 67.6% (-0.8 percentage points vs. 2023, -15.8 percentage points vs. 2019).
Kohala Coast hotels generated revenue per available room of $419 (-5.4% vs. 2023, +29.6% vs. 2019), with an average daily rate of $561 (-4.7% vs. 2023, +49.1% vs. 2019) and occupancy of 74.7% (-0.5 percentage points vs. 2023, -11.2 percentage points vs. 2019).
Hotels on O’ahu reported revenue per available room of $274 in July (+5.9% vs. 2023, +19.1% vs. 2019), an average daily rate of $310 (+1.4% vs. 2023, +18.7% vs. 2019), and an occupancy rate of 88.3% (+3.8 percentage points vs. 2023, +0.3 percentage points vs. 2019). Hotels in Waikīkī achieved revenue per available room of $261 (+4.9% vs. 2023, +16.9% vs. 2019), an average daily rate of $293 (+0.7% vs. 2023, +15.3% vs. 2019), and an occupancy rate of 89.0% (+3.6 percentage points vs. 2023, +1.2 percentage points vs. 2019).
Tables containing hotel performance statistics, including the data included in the report, can be viewed online here.
