HONOLULU -- Only three-quarters of Hawaii hotel rooms were occupied in February, the peak travel month of the year to the islands. It marked the worst February in 18 years.
The latest Hawaii Hotel Flash Report released by Hospitality Advisors LLC found that the average daily rate also plunged 12.4 percent. That was the sharpest decline since the survey began in 1987, from $213.62 to $187.21.
February's 74.7 percent occupancy rate was the lowest since 1991, when the rate fell to 69.7 during the Persian Gulf War.
The deterioration in both occupancy and room rates resulted in a 21.6 percent plunge to $139.94 in revenue per available room, a key gauge of a hotel profitability and performance, according to Hospitality Advisors LLC.
"The market drops were significant, particularly in the month of February, which is normally our busiest month of the year," Joseph Toy of Hospitalitiy Advisors LLC said in a written statement.
Toy said hotels are making sharp discounts to generate volume. (Find specials at KITV.com's
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