December's Numbers, Maui Style

Aloha Kakou:

Here are two Maui News articles regarding the visitor industry and the economy on our island.

The first article, from Friday's paper restates some of what was mentioned in the Honolulu Advertiser's story from last Wednesday: Maui's December occupancy was down 14.4% from 2007 to 56.8%; Hawaii's December occupancy was down 10% from 2007 to 60.9%; and Rack rates dropped about $10 for 2008 vs. 2007. Overall, Joseph Toy called 2007's declines a "sickening plunge". I could not agree more!

The second article, from Saturday's Maui News, offers perhaps a ray of hope. "I'm pretty sure 2009 is the bottom," Paul Brewbaker said. Brewbaker is senior vice president and chief economist for Bank of Hawaii and I've mentioned his quotes before. Some of Brewbaker's positive notes: energy costs are down; airfares are down; and Hawaii hotel rates are "more competitively priced" (you get to decide whether that last one is plus or a minus!).


http://mauinews.com/page/content.detail/id/514537.html?nav=10
http://mauinews.com/page/content.detail/id/514595.html?nav=10