Oahu hotels are doing well compared to popular destinations in Europe, Asia and South America, according to a new report by Hospitality Advisors LLC and STR, Inc.
A selected market comparison reviewing Oahu, Tokyo, Milan, Paris and Rio de Janeiro, shows Oahu had the second-highest occupancy and second-highest room rates during 2015.
Oahu hotels were 85.3 percent full, with an average room rate of $222 last year. Revenue per available room, or RevPAR, at Oahu hotels reached $189.37.
Oahu hotel occupancy fell just behind Tokyo hotels, which were 86.7 percent full during 2015. Room rates in Tokyo were second-lowest among the group reviewed at $155.79. Tokyo also saw the second-lowest RevPAR among the five locations.
Paris hotels had the highest average daily rate at an average of $286.90 a night. Paris hotels also saw the highest RevPAR among the cities analyzed, at $219.48. The Paris hotels were the third-most occupied among the group, at 76.5 percent full.
Milan hotel occupancy came in fourth among the group, at 69.4 percent occupied, charging $174.49 a night and seeing RevPAR at $121.10 during 2015.
Rio De Janeiro hotels were 64 percent full last year. The rooms were offered on the market for an average of $120.72 a night, but brought in just $72.26 in RevPAR.
Oahu figures are estimates and subject to change, Hospitality Advisors said.
Room rates are also preliminary and are subject to month-end financial adjustments.
Lorin Eleni Gill
Pacific Business News