Per a report from Hospitality Advisors LLC and STR Inc., Hawaii hotels set a remarkable record in the first quarter. Among the top 25 hotel markets in the U.S., Hawaii hotels were ranked #1 for their combined daily rate and revenue per available room (RevPAR). Â This created a new revenue record of $1.44B.
Interestingly, Hawaii obtained this record despite a decline in occupancy as compared to last year, in the same quarter. The second quarter seemed to indicate lighter numbers, but March numbers created a new record with a total revenue of $469 million.
Hawaii has always seen tremendous tourism which accounts for most of its hospitality revenue, and the peak season is almost upon us. It is easy to speculate that this will be a record setting season, but time will tell.
Our team of dedicated experts will provide you with A-Z solutions. Parkwest General Contractors delivers quality services that include general contracting, project management, and much more. When choosing a contractor to build your commercial or hospitality property, think large and project your brand name with the image of beauty and success; the image that Parkwest will solidify.
If you need help in the Western U.S., please contact Ed LaCivita or Craig Sullivan at Parkwest General Contractors.
