Hawai‘i hotels statewide reported stronger revenue per available room (RevPAR), average daily rate (ADR), and occupancy in March 2023 compared to March 2022. When compared to pre-pandemic March 2019, statewide ADR and RevPAR were also higher but the occupancy rate was lower in March 2023.
According to the Hawai‘i Hotel Performance Report published by the Hawai‘i Tourism Authority (HTA), statewide RevPAR in March 2023 was $296 (+6.4%), with ADR at $387 (+4.0%) and occupancy of 76.5 percent (+1.7 percentage points) compared to March 2022. Compared with March 2019, RevPAR was 31.9 percent higher, driven by higher ADR (+35.9%) which offset lower occupancy (-2.3 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 March 2023, the survey included 153 properties representing 46,640 rooms, or 84.0 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 $509.1 million (+6.0% vs. 2022, +35.4% vs. 2019) in March 2023. Room demand was 1.3 million room nights (+2.0% vs. 2022, -0.3% vs. 2019) and room supply was 1.7 million room nights (-0.3% vs. 2022, +2.7% vs. 2019).
Luxury Class properties earned RevPAR of $537 (-2.6% vs. 2022, +21.8% vs. 2019), with ADR at $893 (-0.8% vs. 2022, +53.0% vs. 2019) and occupancy of 60.1 percent (-1.1 percentage points vs. 2022, -15.4 percentage points vs. 2019). Midscale & Economy Class properties earned RevPAR of $199 (+9.0% vs. 2022, +36.6% vs. 2019) with ADR at $258 (+8.2% vs. 2022, +43.5% vs. 2019) and occupancy of 77.3 percent (+0.6 percentage points vs. 2022, -3.9 percentage points vs. 2019).
Maui County hotels led the counties in March 2023 and achieved RevPAR of $455 (-0.5% vs. 2022, +36.7% vs. 2019), with ADR at $646 (+1.9% vs. 2022, +52.1% vs. 2019) and occupancy of 70.5 percent (-1.7 percentage points vs. 2022, -8.0 percentage points vs. 2019). Maui’s luxury resort region of Wailea had RevPAR of $635 (-4.8% vs. 2022, +9.1% vs. 2019), with ADR at $1,028 (+2.6% vs. 2022, +60.3% vs. 2019) and occupancy of 61.7 percent (-4.8 percentage points vs. 2022, -28.9 percentage points vs. 2019). The Lahaina/Kā‘anapali/Kapalua region had RevPAR of $418 (+0.8% vs. 2022, +51.7% vs. 2019), ADR at $565 (+2.3% vs. 2022, +59.0% vs. 2019) and occupancy of 74.0 percent (-1.1 percentage points vs. 2022, -3.6 percentage points vs. 2019).
Kaua‘i hotels earned RevPAR of $306 (-1.1% vs. 2022, +49.1% vs. 2019), with ADR at $404 (+4.1% vs. 2022, +42.0% vs. 2019) and occupancy of 75.8 percent (-4.0 percentage points vs. 2022, +3.6 percentage points vs. 2019).
Hotels on the island of Hawai‘i reported RevPAR at $329 (-4.4% vs. 2022, +52.2% vs. 2019), with ADR at $430 (-1.3% vs. 2022, +56.8% vs. 2019), and occupancy of 76.5 percent (-2.5 percentage points vs. 2022, -2.3 percentage points vs. 2019). Kohala Coast hotels earned RevPAR of $474 (-8.1% vs. 2022, +53.6% vs. 2019), with ADR at $611 (-6.7% vs. 2022, +58.5% vs. 2019), and occupancy of 77.6 percent (-1.1 percentage points vs. 2022, -2.5 percentage points vs. 2019).
O‘ahu hotels reported RevPAR of $216 (+20.0% vs. 2022, +17.9% vs. 2019) in March, ADR at $273 (+12.3% vs. 2022, +18.9% vs. 2019) and occupancy of 79.3 percent (+5.1 percentage points vs. 2022, -0.7 percentage points vs. 2019). Waikīkī hotels earned RevPAR of $206 (+19.5% vs. 2022, +15.3% vs. 2019), with ADR at $260 (+13.0% vs. 2022, +16.2% vs. 2019) and occupancy of 79.4 percent (+4.3 percentage points vs. 2022, -0.6 percentage points vs. 2019).
First Quarter 2023
In the first quarter of 2023, Hawai‘i’s hotels earned $292 in RevPAR (+16.0% vs. 2022, +24.4% vs. 2019), with ADR at $388 (+8.4% vs. 2022, +33.1% vs. 2019) and occupancy of 75.2 percent (+4.9 percentage points vs. 2022, -5.3 percentage points vs. 2019).
Total statewide hotel revenues for the first quarter of 2023 were $1.5 billion (+15.5% vs. 2022, +27.5% vs. 2019). Room supply was 5.0 million room nights (-0.4% vs. 2022, +2.5% vs. 2019), and room demand was 3.8 million room nights (+6.5% vs. 2022, -4.2% vs. 2019).
Comparison to Top U.S. Markets
In comparison to the top U.S. markets, the Hawaiian Islands earned the highest first quarter 2023 RevPAR at $292 (+16.0%). Miami, Florida was second at $221 (-1.0%), followed by Phoenix, Arizona at $184 (+27.2%).
The Hawaiian Islands also led the U.S. markets in first quarter 2023 ADR at $388 (+8.4%), followed by Miami, Florida at $278 (-2.8%) and San Francisco, California at $240 (+39.2%).
For the first quarter 2023, Tampa, Florida topped the country in occupancy at 79.6 percent (+2.4 percentage points), followed by Miami, Florida at 79.4 percent (+1.5 percentage points) and Orlando, Florida at 78.8 percent (+6.9 percentage points).
Comparison to International Markets
Hotels in the Maldives ranked highest for first quarter 2023 RevPAR for international “sun and sea” destinations at $580 (-3.1%), followed by French Polynesia ($478, +70.2%). Maui County ($449, +12.7%), Hawaiʻi Island ($325, +3.3%), Kauaʻi ($309, +11.0%), and O‘ahu ($212, +25.7%) ranked third, fifth, sixth, and tenth, respectively.
Hotels in the Maldives led in first quarter 2023 ADR at $765 (-4.7%), followed by French Polynesia ($679, +17.7%) and Maui County ($645, +7.5%). Hawai‘i Island ($425, +1.5%), Kaua‘i ($413, +9.0%), and O‘ahu ($273, +14.2%) ranked sixth, seventh, and tenth, respectively.
Puerto Vallarta led in occupancy for “sun and sea” destinations at 83.8 percent (+11.8 percentage points), followed by Phuket (79.7%, +39.6 percentage points) and Oʻahu (77.5%, +7.1 percentage points). Hawaiʻi Island (76.5%, +1.4 percentage points), Kauaʻi (74.9%, +1.3 percentage points), and Maui County (69.7%, +3.2 percentage points) ranked sixth, ninth, and twelfth, repsectively.
Tags: Hawai‘i Hotel Performance Report, Hawai‘i Tourism Authority
