Today's Economic News

Aloha Kakou:

The economic news from all three newspapers does not bode well for the fall season, nor for the first quarter of 2009. Even Christmas, normally the busiest time of the year, will be off, according to these articles.

"With such weakness during our traditionally high summer season, we will likely see a very sharp drop for 2008 when compared to last year," said Joseph Toy, president and chief executive of Hospitality Advisors, a Honolulu-based tourism consulting firm. "The fall shoulder season also looks troubling with a lot of uncertainty for the first quarter 2009."

While I have discussed the slowdown in our occupancy with you in detail in the monthly newsletter, it bears repeating that the rest of this year will be below last year's results. Some forecasters are looking for a recovery perhaps in late 2009 or in 2010. Our Christmas dates still look strong; we will, however, soon begin to reconfirm those reservations on the books.

http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20080910/BUSINESS02/809100392/1071

http://starbulletin.com/2008/09/10/news/story02.html

http://mauinews.com/page/content.detail/id/508208.html?nav=10