Sep 15 2008
Hawaiian Hotels Take Hit in Room Occupancy
With the credit crunch back in the States, the high end travel sector in Hawaii has felt the pinch, and it may pinch harder yet. According to reports, average hotel occupancy in the Hawaiian Islands fell to 74.2 percent, a 6.5 percent drop from the same month a year ago.
The drop marked the fifth consecutive monthly decline for the market, and its lowest occupancy rate for July since 1998.
The decline can be easily traced to a drop in visitors to the traditionally successful and profitable tourism market. Travelers from Japan alone have dropped by 11.7 percent, corporate meetings dropped 26.7 percent and honeymooners dropped by 24.2 percent.
The horizon shows no sign of respite quite yet.
“The fall shoulder season also looks troubling with a lot of uncertainty for the first quarter 2009,” Toy said.
