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Positive New Tourism Statistics Report

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Tourism rebound apparent in report

Through September, county head count, spending up from 2009

November 5, 2010 – By HARRY EAGAR, Staff Writer of the Maui News
In a further signal that Hawaii’s visitor industry is rebounding, spending in September statewide jumped 22.2 percent compared to the same month last year to $880.2 million, well above the 13.7 percent gain for the first nine months of the year.

Arrivals are up, too, but not nearly as much. Statewide, 528,304 people arrived by air in September, a gain of 8.9 percent from September 2009.

Maui County leads the state in growth in both head count and spending, with spending up 18.8 percent compared to the same period to $2.2 billion through three quarters.

Per person per day spending, which was $189 (not including airfares) in 2007, is at $177.40 for Maui island for the first nine months of this year.

So far this year, Maui County has welcomed 1,657,935 visitors, up 8.5 percent. In September, the three islands welcomed 161,482 visitors, up 12.6 percent.

September is typically just about the slowest period of the year for tourism.

Marsha Wienert, the state tourism liaison, said: “It’s particularly significant that the Neighbor Islands are experiencing improvements in visitor arrivals and visitor spending.

“Increased air seats into these islands have helped to bring more visitors from the Mainland, which is boosting visitor spending.”

In September, statewide arrivals from western states and Canada, both strong Maui markets, were up 13.5 percent and 13.3 percent, respectively.

Arrivals of visitors from Japan, who concentrate on Oahu, were down 0.4 percent.

Maui County, which was especially hard hit in May 2008 because it depended proportionally more on the shuttered Aloha and ATA airlines has now apparently regained the momentum it had before the visitor industry slide began.

Oahu is ahead 6.5 percent in head count through three quarters, with 3,244,867 visitors. In September, it was up 5.4 percent to 345,365, less than half Maui’s rate.

The other Neighbor Islands, which have trailed Maui in recovery by most measures, including hotel occupancy rates, showed smaller gains. In September, Kauai was up 3 percent to 73,621 visitor arrivals; the Big Island was up 8.8 percent to 92,214, but since it has lost direct service from Japan to Kona, it probably will not do as well again this year.

For the nine months, Kauai is up 2.6 percent to 732,871; the Big Island is up 4.6 percent to 969,754.

Spending trends are similar. This year, visitors have left $4.2 billion on Oahu, up 11.4 percent; $838 million on Kauai, up 10.8 percent; and $1 billion on the Big Island, up 15.6 percent.

Average length-of-stay, which has been declining for many years, shows slight gains this year.

For all visitors, it is up 0.4 percent to 7.97 days on Maui, highest in the state, followed by 7.45 days on Kauai, up 1.4 percent; 7.4 days on Oahu, up 1.6 percent; and 6.98 days on Hawaii, up 1.2 percent.

Oahu’s overall average is pulled down by its greater proportion of foreign visitors, who don’t stay as long. Counting only American visitors, the two destinations are very close, 7.97 days on Oahu and 8.04 on Maui island.

* Harry Eagar can be reached at heagar@mauinews.com.

VOLUNTEER WITH PACIFIC WHALE FOUNDATION WHILE ON VACATION!!

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Volunteering on Vacation

 

Volunteering on Vacation Pacific Whale Foundation offers six different Volunteering on Vacation programs on a regular schedule year-round. Projects offer opportunities to preserve and protect Maui’s environment. No cost to participate. Receive a free reusable tote bag if you work three hours or longer. For more information or to sign up visit http://www.pacificwhale.org or call 249-8811, ext. 1.

 

Maui Land posts $20 million profit

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The gain comes from recognizing deferred income from selling its Plantation Golf Course

Maui Land & Pineapple Co. booked its first quarterly profit in two years, during the three months ended Sept. 30, though the achievement was due to recognizing a previously deferred gain from the sale of a golf course last year.

The owner of Kapalua Resort earned $20 million in the third quarter, which contrasted with a $25.5 million net loss in the same period last year.

The gain ended a string of losses that amounted to $210 million over the previous eight quarters for the Lahaina-based company.

But the turnaround in earnings was the result of Maui Land booking a $25.7 million gain on the March 2009 sale of its Plantation Golf Course for $50 million.

Fundamental operations — running Kapalua Resort and developing and selling real estate around the West Maui resort — continued to be a drag on earnings.

Tim Esaki, Maui Land’s chief financial officer, said in a statement that the company continues to make progress streamlining operations and strengthening its financial position.

“While we still need to work through a number of challenges, we have a sound business plan and a solid team that is focused on building shareholder value,” he said.

Maui Land’s net income equaled $1.35 per share. Share prices closed yesterday at $4.46, down 6 cents from Friday’s close, on the New York Stock Exchange before the earnings announcement. Over the last 52 weeks, shares of Maui Land stock have traded as low as $2.35 in January and as high as $7.65 in March.

Operating revenue for Maui Land totaled $8.2 million in the third quarter, down from $20.1 million a year earlier. The weaker revenue was mostly the result of fewer real estate sales, the company said. The absence of revenue from two resort assets that Maui Land leased to third parties last December also contributed to the revenue decline.

Excluding the contribution from the golf course sale, Maui Land’s resort division had an operating loss of $2.2 million in the third quarter, which was an improvement from a $3.4 million operating loss in the same period a year earlier. The company’s real estate development division had an operating loss of $499,000 in the third quarter, an improvement from a $16.2 million operating loss a year earlier.

Maui Land said it couldn’t recognize the operating profit from the golf course sale earlier because of accounting rules. Though the company received proceeds from the $50 million sale last year and used it largely to pay down debt, the financial gain couldn’t be counted until Maui Land completed certain improvements to the irrigation system. Maui Land also has an obligation to lease back the course until March at a cost of $4 million a year.

Another $2 million in profit from the Plantation Course sale has yet to be booked. That gain is expected to be recognized by Maui Land as operating profit over the next two quarters.

A similar treatment of operating profit is planned for Maui Land’s $24.1 million sale of its Kapalua Bay Golf Course in September. The gain from that sale is expected to be recognized in March upon completion of certain sale obligations including leasing back the course.

Stomp Out Hunger Event

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Fri, November 5, 2010 @ 5:00PM

Feed My Sheep’s annual fundraising event.

 Third annual Stomp Out Hunger at War Memorial Soccer Field next to Baldwin High School in Wailuku. Food booths, live entertainment, kiddie bounce castles and silent auction. Admission is a canned good donation. Proceeds feed those in need on Maui.

Honolulu getting $5 million grant for "Green" Waikiki buses

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Honolulu is getting a $5 million federal grant to replace diesel buses in Waikiki with turbine hybrid-electric buses.

The new vehicles will be quieter, more fuel-efficient and produce lower emissions.

Mayor Peter Carlisle said Thursday that by providing quieter and cleaner buses to the busy Waikiki area, the project will help create a more livable community for both residents and visitors.

He says the new vehicles will be evaluated for their ability to reduce energy and greenhouse gas emissions.

City officials say Honolulu’s project was selected on a competitive basis through a green transit initiative called the Transit Investments for Greenhouse Gas and Energy Reduction, or TIGGER II, Program.