February 2023 Hawai‘i Hotel Performance Report
Hawai‘i hotels statewide reported stronger revenue per available room (RevPAR), average daily rate (ADR), and occupancy in February 2023 compared to February 2022. When compared to pre-pandemic February 2019, statewide ADR and RevPAR were also higher but occupancy rate was lower in February 2023.
According to the Hawai‘i Hotel Performance Report published by the Hawai‘i Tourism Authority (HTA), statewide RevPAR in February 2023 was $296 (+16.7%), with ADR at $387 (+9.6%) and occupancy of 76.3 percent (+4.6 percentage points) compared to February 2022. Compared with February 2019, RevPAR was 21.4 percent higher, driven by higher ADR (+32.8%) which offset lower occupancy (-7.2 percentage points).
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 February 2023, the survey included 155 properties representing 47,466 rooms, or 85.6 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.
Hawai‘i hotel room revenues statewide totaled $459.0 million (+16.6% vs. 2022, +24.5% vs. 2019) in February 2023. Room demand was 1.2 million room nights (+6.5% vs. 2022, -6.3% vs. 2019) and room supply was 1.6 million room nights (0.0% vs. 2022, +2.6% vs. 2019).
Luxury Class properties earned RevPAR of $524 (+7.8% vs. 2022, +14.7% vs. 2019), with ADR at $863 (+5.6% vs. 2022, +47.8% vs. 2019) and occupancy of 60.7 percent (+1.3 percentage points vs. 2022, -17.5 percentage points vs. 2019). Midscale & Economy Class properties earned RevPAR of $216 (+17.9% vs. 2022, +27.7% vs. 2019) with ADR at $266 (+9.8% vs. 2022, +36.4% vs. 2019) and occupancy of 81.1 percent (+5.6 percentage points vs. 2022, -5.5 percentage points vs. 2019).
Maui County hotels led the counties in February 2023 and achieved RevPAR of $465 (+16.2% vs. 2022, +32.3% vs. 2019), with ADR at $655 (+11.3% vs. 2022, +49.8% vs. 2019) and occupancy of 71.0 percent (+3.0 percentage points vs. 2022, -9.4 percentage points vs. 2019). Maui’s luxury resort region of Wailea had RevPAR of $658 (+13.4% vs. 2022, +12.6% vs. 2019), with ADR at $1,004 (+17.2% vs. 2022, +54.8% vs. 2019) and occupancy of 65.5 percent (-2.2 percentage points vs. 2022, -24.6 percentage points vs. 2019). The Lahaina/Kā‘anapali/Kapalua region had RevPAR of $423 (+19.4% vs. 2022, +44.9% vs. 2019), ADR at $575 (+10.8% vs. 2022, +56.2% vs. 2019) and occupancy of 73.5 percent (+5.3 percentage points vs. 2022, -5.8 percentage points vs. 2019).
Kaua‘i hotels earned RevPAR of $309 (+7.4% vs. 2022, +36.0% vs. 2019), with ADR at $418 (+10.3% vs. 2022, +37.5% vs. 2019) and occupancy of 73.9 percent (-2.0 percentage points vs. 2022, -0.8 percentage points vs. 2019).
Hotels on the island of Hawai‘i reported RevPAR at $332 (+1.7% vs. 2022, +43.3% vs. 2019), with ADR at $432 (+1.3% vs. 2022, +52.1% vs. 2019), and occupancy of 76.8 percent (+0.3 percentage points vs. 2022, -4.7 percentage points vs. 2019). Kohala Coast hotels earned RevPAR of $455 (-2.7% vs. 2022, +41.0% vs. 2019), with ADR at $602 (-2.3% vs. 2022, +52.6% vs. 2019), and occupancy of 75.6 percent (-0.4 percentage points vs. 2022, -6.2 percentage points vs. 2019).
O‘ahu hotels reported RevPAR of $210 (+25.3% vs. 2022, +3.4% vs. 2019) in February, ADR at $266 (+13.5% vs. 2022, +13.3% vs. 2019) and occupancy of 78.9 percent (+7.4 percentage points vs. 2022, -7.6 percentage points vs. 2019). Waikīkī hotels earned RevPAR of $202 (+27.7% vs. 2022, +1.6% vs. 2019), with ADR at $255 (+14.9% vs. 2022, +11.0% vs. 2019) and occupancy of 79.2 percent (+7.9 percentage points vs. 2022, -7.4 percentage points vs. 2019).
The article February 2023 Hawai‘i Hotel Performance Report first appeared in TravelDailyNews International.