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Report: Hawaii Hotel Market Thriving

HONOLULU-The latest report from the Hospitality Services Group of Ernst & Young LLP predicts that the hotel market in Hawaii will continue to outperform the nation as a whole into 2006.

By Brian K. Miller | Updated on September 19, 2005

HONOLULU- Thanks to strong demand from vacation travelers and a decreasing supply of hotel rooms, Hawaii was the best performing hotel market in the US through the first half of the year, according to the latest report from the Hospitality Services Group of Ernst & Young LLP. Moreover, E&Y predicts that the hotel market in Hawaii will continue to outperform the nation as a whole into 2006.

Hotel occupancy in the four major Hawaiian hotel markets of Oahu, the Big Island, Maui and Kauai increased 4.5% in the first six months of 2005 compared the first six months of 2004. Over the same period, average daily room rates (ADR) increased 6.8%, according to data supplied by Smith Travel Research. Nationally, occupancy increased 2.8% and ADR rose 4.8%.

“Hawaii is enjoying its strongest economy since the early 1990s, and is seeing significant increases in vacation travel to the islands,” says Michael Fishbin, national director of E&Y’s Hospitality Services Group. “With a projected increase in air travel to the islands next year and a rapidly expanding cruise industry, we see no signs of diminishing performance in the local hospitality market.”

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