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State Raises Outlook for Tourism This Year: News Article

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Updated at 12:07 p.m., Wednesday, May 19, 2010
Honolulu Advertiser Article

 

State raises outlook for tourism this year

    Advertiser Staff

    Expectations for tourism arrivals and spending, as well as the Hawai’i’s gross domestic product are being raised in the latest economic forecast from the state Department of Business, Economic Development and Tourism. 

    The state’s latest projections boost the performance of the visitor industry, a key contributor to Hawai’i’s economy. The forecast calls for visitor arrivals to increase 2.6 percent this year, or higher than the 2.1 percent in DBEDT’s previous forecast.

    It also calls for visitor spending to rise by 2.6 percent. That’s an jump from the 2.0 percent seen previously.

    The updated forecast also sees gross domestic product rising by a rosier amount, rising 1.1 percent this year when adjusted for inflation. It had been projected to rise 0.9 percent.

    The forecast maintains its jobs outlook, saying they are still expected to fall by 0.9 percent this year as employment lags recovery. The report noted job growth should gradually turn positive late in the year, though not enough to offset declines earlier in 2010.

    BEST KIHEI VALUES

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    South Maui Condominium

    Best Buy List

    As of May 14, 2010

    Price                Condominium             Loc      Vac      Comments

    $   189,000      Kihei Shores C208                   SK       N         2BR Loc, Nice, & Price!

    $   199,000      Lanakila B106                          NK      N         2BR (Short Sale) Nice/Price

    $   224,900      Maui Vista 2217                       SK       Y         1BR Loc, Nice & Price!

    $   225,000      Kamoa Views 210                   SK       N         1BR Loc, Nice, & Price!

    $   250,000      Kihie Kai 15                             NK      Y         1BR Oceanfront & Price!

    $   264,957      Kauhale Makai 329                  NK      Y         1BR Oceanfront/Oceanviews

    $   299,000      Maui Banyan H114                  SK       Y         1BR Location & Price!

    $   299,000      Island Sands 210 (New)           M         Y         1BR Direct Oceanfront, Price

    $   299,900      Kamaole Sands 4-103 (New)   SK       Y         1BR Loc, Nice, & Price!

    $   300,000      Kihei Akahi C215 (New)         SK       Y         1BR Loc, Nice, & Price!

    $   329,900      Kai Ani Village 2-204   SK       N         2BR New & Nice!

    $   339,000      Luana Kai A106                       NK      Y         1BR Oceanfront & Price!

    $   395,000      Hale Kanani 3-101 (New)        SK       N         3BR Loc, Nice, & Price!

    $   399,000      Hale Kamaole 212 (New)        SK       Y         1BR Loc, Nice, & Price!

    $   399,000      Menehune Shores 225             NK      Y         2BR (Short Sale) Oceanfront!

    $   425,000      Sugar Beach 409                      NK      Y         1BR Sandy Bch Oceanfront!

    $   449,000      Grand Champions 103  W        Y         1BR (Short Sale) On GC!

    $   468,900      Wailea Fair Villa K202(New)W           N         2BR Oceanveiws & On GC!

    $   489,000     Grand Champions 37                W        Y         2BR Large & Price!

    $   569,000      Kihei Beach 503                       NK      Y         1BR Nice Oceanfront!

    $   594,900      Ke Alii Oc Villas Q103(New)SK         N         3BR Loc, Large, & Nice!

    $   610,000      Wailea Ekolu 1304                   W        Y         1BR Great Oceanviews!

    $   729,000      Royal Mauian 508                    SK       Y         1BR Beautiful Oceanfront!

    $   750,000      Wailea Ekahi 16E                     W        Y         1BR Beautiful & Oceanviews

    $   839,000      Kai Malu 21B                         W        N         3BR (Short Sale) Res Condo!

    $   995,000      Hokulani Golf Villa 10  SK       N         2BR Nice Res Condo on GC!

    $1,100,000      Hale Pau Hana 105 (New)       SK       Y         1BR Spectacular Oceanfront!

    $1,195,000      Royal Mauian 610                    SK       Y         2BR Beautiful Oceanfront!

    $1,599,000      Maalaea Surf H5                      NK      Y         2BR Spectacular Oceanfront!

    $2,345,000      Makena Surf B303                   Mak     Y         2BR Spectacular Oceanfront!

    $2,495,000      Hoolei G-6                               W        Y         3BR Location, New & Large!

    (New)=New Additions to List,  Vac=Vacation Rentals allowed in project Y=Yes, N=No  Mak=Makena,  W= Wailea,  SK= South Kihei,  NK= North Kihei,  M= Maalaea

    News and Updates

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    Maui’s visitor spending was up 25.2% over last

    March to $257.7M, and spending per person per

    day was up 9.4% to $175.20 for the same

    period.

    The Maui News, 04/29/10

     

    Alaska Airlines made two announcements on

    additional routes, adding a second year-round,

    daily service between Portland, Oregon and

    Honolulu starting September 20th ( the airline

    currently flies between Portland and Maui) and a

    nonstop daily flight between Kahului, Maui and

    San Diego, California beginning October 1st.

    Travel Weekly 4/13/10 and Pacific Business News, 04/22/10

     

    The sale of the luxury Hotel Hana-Maui to

    privately held, Amstar Group LLC (Amstar), was

    announced, and the deal is expected to close in

    May 2010. This is the third property ownership

    change within eighteen months. Amstar’s

    subsidiary, Green Tea LLC, will manage the

    property. The Denver-based real estate

    investment and development company plans to

    revamp operations of the 66-room boutique

    hotel, which will mean short-term job reductions.

    The Honolulu Advertiser and The Maui News, 04/21/10

    South Maui Condominium Best Buy List

    Posted on by

     

    As of May 14, 2010 

    Price                Condominium             Loc      Vac      Comments

    $   189,000      Kihei Shores C208                   SK       N         2BR Loc, Nice, & Price!

    $   199,000      Lanakila B106                          NK      N         2BR (Short Sale) Nice/Price

    $   224,900      Maui Vista 2217                       SK       Y         1BR Loc, Nice & Price!

    $   225,000      Kamoa Views 210                   SK       N         1BR Loc, Nice, & Price!

    $   250,000      Kihie Kai 15                             NK      Y         1BR Oceanfront & Price!

    $   264,957      Kauhale Makai 329                  NK      Y         1BR Oceanfront/Oceanviews

    $   299,000      Maui Banyan H114                  SK       Y         1BR Location & Price!

    $   299,000      Island Sands 210 (New)           M         Y         1BR Direct Oceanfront, Price

    $   299,900      Kamaole Sands 4-103 (New)   SK       Y         1BR Loc, Nice, & Price!

    $   300,000      Kihei Akahi C215 (New)         SK       Y         1BR Loc, Nice, & Price!

    $   329,900      Kai Ani Village 2-204   SK       N         2BR New & Nice!

    $   339,000      Luana Kai A106                       NK      Y         1BR Oceanfront & Price!

    $   395,000      Hale Kanani 3-101 (New)        SK       N         3BR Loc, Nice, & Price!

    $   399,000      Hale Kamaole 212 (New)        SK       Y         1BR Loc, Nice, & Price!

    $   399,000      Menehune Shores 225             NK      Y         2BR (Short Sale) Oceanfront!

    $   425,000      Sugar Beach 409                      NK      Y         1BR Sandy Bch Oceanfront!

    $   449,000      Grand Champions 103  W        Y         1BR (Short Sale) On GC!

    $   468,900      Wailea Fair Villa K202(New)W           N         2BR Oceanveiws & On GC!

    $   489,000     Grand Champions 37                W        Y         2BR Large & Price!

    $   569,000      Kihei Beach 503                       NK      Y         1BR Nice Oceanfront!

    $   594,900      Ke Alii Oc Villas Q103(New)SK         N         3BR Loc, Large, & Nice!

    $   610,000      Wailea Ekolu 1304                   W        Y         1BR Great Oceanviews!

    $   729,000      Royal Mauian 508                    SK       Y         1BR Beautiful Oceanfront!

    $   750,000      Wailea Ekahi 16E                     W        Y         1BR Beautiful & Oceanviews

    $   839,000      Kai Malu 21B                         W        N         3BR (Short Sale) Res Condo!

    $   995,000      Hokulani Golf Villa 10  SK       N         2BR Nice Res Condo on GC!

    $1,100,000      Hale Pau Hana 105 (New)       SK       Y         1BR Spectacular Oceanfront!

    $1,195,000      Royal Mauian 610                    SK       Y         2BR Beautiful Oceanfront!

    $1,599,000      Maalaea Surf H5                      NK      Y         2BR Spectacular Oceanfront!

    $2,345,000      Makena Surf B303                   Mak     Y         2BR Spectacular Oceanfront!

    $2,495,000      Hoolei G-6                               W        Y         3BR Location, New & Large!

    (New)=New Additions to List,  Vac=Vacation Rentals allowed in project Y=Yes, N=No  Mak=Makena,  W= Wailea,  SK= South Kihei,  NK= North Kihei,  M= Maa

     

    Hawaii Hotels Report First Profits in Two Years: Honolulu Advertiser Article

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    Posted on: Tuesday, May 11, 2010    

    Hawaii hotels report first profits in two years

    Room revenue hits $122 in March, after 24 months of losses

    By Alan Yonan Jr.
    Advertiser Staff Writer

    Hotel occupancy climbed enough in March that the local lodging industry was able to turn the corner on a key measure of profitability for the first time in two years.  

    Revenue per available room, or “revpar,” rose to $122.43 in March from $119.21 a year earlier, according to a report released today by Hospitality Advisors and Smith Travel Research.”After 24 consecutive months of room revenue losses, the rise in monthly occupancy during March was finally able to outpace room discounting for a modest revenue gain,” said Joseph Toy, president and chief executive officer of Hospitality Advisors LLC, a local travel industry consulting firm. 

    Average statewide occupancy rose to 70.6 percent in March from 65.2 percent a year earlier. Occupancy has increased in six out of the past seven months. But with deep discounting, hotels hadn’t been able to post an increase in revenue per available room — until March.

    The turn in revpar shows that hotel owners are beginning to regain some leverage in pricing power lost during the extended downturn in the visitor industry.

    “The first-quarter results are encouraging as confidence continues to slowly rebuild in the market,” Toy said.

    That’s not to say that discounting is over. The average daily room rate fell to $173.41 in March from $182.83 a year earlier. While room rates were down, the rate of decline continued to slow.

    “People are shopping deals. They know they can wait to book their hotel until the last minute and still get a deal,” said David Carey, president and chief executive officer of Outrigger Enterprises Group. “And it’s not just Hawai’i. People are shopping for deals at all leisure destinations. When you have discounting and occupancy stays level, it’s a huge profit squeeze.”

    But four consecutive monthly increases in visitor arrivals have helped fill hotel rooms, and airlines say they are planning on adding airseats in the months ahead. That has hoteliers feeling more hopeful.

    “Signs are better than they have been for this summer in terms of advance bookings,” said Carey, whose company operates 26 hotels on four islands. “But we’re going to have to see volumes continue to increase in order to get sustained revenue gains.”

    The biggest increase in hotel occupancy in March was on Maui, where the rate rose by 9.7 percentage points to 72.4 percent. O’ahu’s rate rose to 6.4 points to 76 percent. Kaua’i posted a 5.8 point drop to 55.7 percent, and the occupancy rate on the Big Island fell by 1 percentage point to 57.9 percent.

    Nationally, Hawai’i’s 70.6 percent March occupancy rate was the third highest in the country, trailing New York at 72 percent and Miami at 77.9 percent.

    Hawai’i’s $173.41 average daily room rate also was third highest, behind Miami at $182.70 and New York at $188.06.

    Reach Alan Yonan Jr. at ayonan@honoluluadvertiser.com.

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