HTA Report: Maui County Hotels Lead Average Daily Rate in March: Maui Now

Hotel performance in Maui County continues to be affected by the aftermath of August’s wildfires, the Hawai’i Tourism Authority reports, but the county still led in revenue per available room in March due to its relatively higher average daily rate.

The Hawai‘i Hotel Performance Report notes that hotels in the Lahaina/Kā‘anapali/Kapalua region were occupied by a mix of displaced Lahaina residents affected by the March fires, first responders and visitors.

The Lahaina/Kā’anapali/Kapalua region had revenue per available room of $341, down 19.6% from 2023, but up 23.6% from 2019. The average daily rate for hotels in West Maui was $479, down 15.7% from 2023, but up 34.7% from 2019. Hotel occupancy in West Maui was 71.1%, down 3.5 percentage points from 2023 and also a decrease of 6.4 percentage points compared to 2019.

Overall, Maui County hotels achieved revenue per available room of $401, down 11.9% from 2023 and up 20.5% from 2019. The average daily rate was $581, down 10 .1% from 2023 and an increase of 36.8% from 2019. Maui’s hotel occupancy rate was 69.1%, which was 1.4 percentage points lower than 2023 and 9.3 percentage points lower than in 2019.

In Wailea, Maui’s luxury resort region, revenue per available room was $544, down slightly 0.4% from 2023 and down 6.4% from 2019. The average daily rate was $811, down of 6.8% compared to 2023, but an increase of 26.4%. as of 2019, with an occupancy rate of 67.1%. This occupancy rate represented an increase of 4.3 percentage points compared to 2023, but a substantial decrease of 23.5 percentage points compared to 2019.

Statewide, Hawaii hotels experienced slight declines in occupancy, average daily rate and revenue per available room compared to March 2023. However, compared to March 2019, before the pandemic, statewide average daily rates and revenue per available room were higher in March 2024, while occupancy was lower.

Statewide revenue per available room in March 2024 was $287, down 3.4%, with an average daily rate of $384, down 0.9%, and an occupancy rate of 74.6 %, a decrease of 1.9 percentage points compared to March 2023. Compared to In March 2019, this turnover per available room was 27.8% higher in March, driven by a higher average daily rate of 35.0%, while the occupancy rate was 4. was 2 percentage points lower.

The Hawai’i Hotel Performance Report used data collected by STR, Inc., which conducts the largest and most comprehensive study of hotel properties in the Hawaiian Islands. For March 2024, the survey included 171 properties representing 48,270 rooms, or 86.2% of all properties with 20 rooms or more in the Hawaiian Islands, including full-service, limited-service and condominium properties. Vacation rentals and timeshare properties are not included in this study.

In March 2024, hotel room revenues in Hawaii reached $497.5 million, down 2.9% from 2023 but up 32.3% from 2019. Room demand totaled 1.3 million room nights, which represents a decrease of 2.0% compared to both 2023 and 2023. 2019, while room supply was 1.7 million room nights, an increase of 0.5% compared to 2023 and an increase of 3.6% compared to 2019.

Luxury Class properties achieved revenue per available room of $539, an increase of 1.8% from 2023 and a significant increase of 22.3% compared to 2019. The average daily rate was $876, which was a slight decrease from 1. Compared to 2023, 3% only means a decrease of 50.1%. increase compared to 2019, with an occupancy rate of 61.5%. This occupancy rate represented an increase of 1.9 percentage points compared to 2023, but a decrease of 14.0 percentage points compared to 2019.

Midscale and Economy Class properties earned revenue per available room of $175, which reflects a decrease of 3.6% compared to 2023, but an increase of 20.2% compared to 2019. The average daily rate was $240, which represents a indicates a decrease of 1.5% compared to 2023, but a significant 33.6%. % increase compared to 2019, with an occupancy rate of 73.0%. This occupancy rate represented a decrease of 1.6 percentage points compared to 2023 and a decrease of 8.2 percentage points compared to 2019.

First quarter 2024

In the first quarter of 2024, Hawaii hotels earned revenue per available room of $289, down 0.9% from 2023 but up 23.4% from 2019. The average daily rate was $378, which means a decrease of 2.7% compared to 2024. to 2023 but a significant increase of 29.8% compared to 2019, with an occupancy rate of 76.5%. This occupancy rate represented an increase of 1.4 percentage points compared to 2023, but a decrease of 4.0 percentage points compared to 2019.

Total hotel revenues for the first quarter of 2024 were $1.5 billion, down 0.6% from 2023 but up 27.4% from 2019. Room supply was 5.0 million room nights, a increase of 0.3% compared to 2023 and an increase of 0.3% compared to 2023. An increase of 3.2% compared to 2019, while room demand was 3.8 million room nights, which is an increase of 2 Compared to 2023, .2% only means a decrease of 1.9% compared to 2019.

Comparison with major US markets

Compared to the largest US markets, the Hawaiian Islands achieved the highest revenue per available room in the first quarter of 2024 at $289 (-0.9%). Miami, Florida came in second with $226 (+2.8%), followed by Las Vegas, Nevada with $186 (+15.3%).

The Hawaiian Islands also led the ADR in US markets in the first quarter of 2024 at $378 (-2.7%), followed by Miami, Florida at $276 (-0.4%) and San Francisco/San Mateo, California by $239 (-0.2%).

Miami, Florida led the nation in occupancy at 81.9% (+2.6 percentage points), followed by Las Vegas, Nevada at 78.3% (-0.4 percentage points) and Orlando, Florida at 77.4% (-1.6 percentage points). The Hawaiian Islands rank fifth with 76.5% (+1.4 percentage points).

More hotel performance statistics are available here.