December Occupancies Up At The Price Of Rate

Aloha Kakou:

December's statewide occupancies were higher than than those of 2009 but rates are still down.

Lowering rates attracted more guests in 2010 but those guests will be reluctant to return to the rates they paid in 2006 and 2007.

"The occupancy has returned to more normal levels, but the average rate is still down about 15 to 20 percent from the peak and costs have risen 5 to 10 percent," said David Carey, president and CEO of Outrigger Enterprises Group. "Hotels and their owners continue to be squeezed."

"We are still six years away from even achieving the profitability of 2006 and 2007," said Keith Vieira, senior vice president and director of operations for Starwood Hotels & Resorts in Hawaii and French Polynesia.

http://mauinews.com/page/content.detail/id/546141/Deals-help-raise-2010-Maui-occupancy-rates.html?nav=10





http://www.staradvertiser.com/business/20110214_Hotels_ended_2010_with_higher_rates_occupancy.html