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Hawaii hotels: Flat average daily rate, lower occupancy so far in 2019

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For the first three months of 2019, Hawaii hotels statewide reported flat average daily rate (ADR) and lower occupancy, which resulted in lower revenue per available room (RevPAR) compared to the first quarter of 2018.


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According to the Hawaii Hotel Performance Report published by the Hawaii Tourism Authority (HTA), statewide RevPAR declined to $236 (-3.3%), with ADR of $292 and occupancy of 80.8 percent (-2.7 percentage points) in the first quarter of 2019.

HTA’s Tourism Research Division issued the report’s findings utilizing data compiled by STR, Inc., which conducts the largest and most comprehensive survey of hotel properties in the Hawaiian Islands.

For the first quarter, Hawaii hotel room revenues fell by 4.7 percent to $1.13 billion compared to the $1.18 billion earned in the first quarter of 2018. There were more than 74,300 fewer available room nights (-1.5%) in the first quarter and approximately 190,500 fewer occupied room nights (-4.7%) compared to a year ago. Several hotel properties across the state were closed for renovation or had rooms out of service for renovation during the first quarter.

All classes of Hawaii hotel properties statewide reported RevPAR declines in the first quarter of 2019 except Upper Midscale Class properties ($134, +0.6%). Luxury Class properties reported RevPAR of $452 (-5.4%) with ADR of $594 (-1.2%) and occupancy of 76.1 percent (-3.3 percentage points). At the other end of the price scale, Midscale & Economy Class hotels reported RevPAR of $155 (-5.0%) with ADR of $187 (-0.5%) and occupancy of 83.1 percent (-3.9 percentage points).

Comparison to Top U.S. Markets

In comparison to top U.S. markets, the Hawaiian Islands earned the highest RevPAR at $236 in the first quarter, followed by the San Francisco/San Mateo market at $210 (+15.9%) and the Miami/Hialeah market at $208 (-3.5%). Hawaii also led the U.S. markets in ADR at $292 followed by San Francisco/San Mateo and Miami/Hialeah. The Hawaiian Islands ranked fifth for occupancy at 80.8 percent, with Miami/Hialeah topping the list at 83.0 percent (-2.1 percentage points).

Hotel Results for Hawaii’s Four Counties

Hotel properties in Hawaii’s four island counties all reported RevPAR decreases in the first quarter of 2019. Maui County hotels led the state overall in RevPAR at $337 (-2.7%), with ADR at $428 (-0.9%) and occupancy at 78.6 percent (-1.5 percentage points).

Kauai hotels earned RevPAR of $228 (-10.2%), with flat ADR at $305 (+0.2%) and lower occupancy of 74.8 percent (-8.7 percentage points).

Hotels on the island of Hawaii reported a decline in RevPAR to $225 (-9.7%), due to a combination of decreases in both ADR ($285, -2.0%) and occupancy (79.1%, -6.7 percentage points).

Oahu hotels earned slightly lower RevPAR at $196 (-0.9%), with ADR at $236 (+0.8%) and occupancy of 83.0 percent (-1.4 percentage points).

Comparison to International Markets

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When compared to international “sun and sea” destinations, Hawaii’s counties were in the middle of the pack for RevPAR in the first quarter of 2019. Hotels in the Maldives ranked highest in RevPAR at $575 (+4.5%) followed by Aruba at $351 (+11.2%). Maui County ranked third, with Kauai, the island of Hawaii, and Oahu ranking sixth, seventh and eighth, respectively.

The Maldives also led in ADR at $737 (+5.2%) in the first quarter, followed by French Polynesia at $497 (-1.1%). Maui County ranked fifth, followed by Kauai and the island of Hawaii. Oahu ranked ninth .

Oahu trailed Phuket (84.5%, -6.3 percentage points) in occupancy for sun and sea destinations in the first quarter. The island of Hawaii, Maui County and Kauai ranked fourth, fifth and ninth, respectively.

March 2019 Hotel Performance

In March 2019, RevPAR for Hawaii hotels statewide declined to $227 (-4.3%), with ADR of $285 (-1.1%) and occupancy of 79.6 percent (-2.7 percentage points).

In March, Hawaii hotel room revenues fell by 5.9 percent to $373.3 million. There were more than 27,200 fewer available room nights (-1.6%) in March and approximately 66,850 fewer occupied room nights (-4.9%) compared to a year ago. Several hotel properties across the state were closed for renovation or had rooms out of service for renovation during March. However, the number of rooms out of service may be under-reported.

All classes of Hawaii hotel properties statewide reported RevPAR declines in March. Luxury Class properties reported RevPAR of $443 (-7.2%) with ADR of $583 (-3.1%) and occupancy of 75.9 percent (-3.4 percentage points). Midscale & Economy Class hotels reported RevPAR of $150 (-2.9%) with ADR of $182 (+0.8%) and occupancy of 82.0 percent (-3.1 percentage points).

Hotel properties in Hawaii’s four island counties all reported lower RevPAR for March. Maui County hotels reported the highest RevPAR in March at $336 (-1.4%) with ADR of $421 (-1.6%) and flat occupancy (79.8%, +0.2 percentage points).

Oahu hotels reported lower occupancy (80.4%, -2.3 percentage points) and flat ADR ($230, -0.2%) for March.

Hotels on the island of Hawaii continued to face challenges in March, with RevPAR dropping 11.2 percent to $216, ADR to $272 (-4.9%) and occupancy to 79.2 percent (-5.7 percentage points).

RevPAR for Kauai hotels fell to $213 (-14.6%) in March, with declines in both ADR to $286 (-4.5%) and occupancy to 74.4 percent (-8.8 percentage points).

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San Francisco International Airport purchases six new electric buses

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Today Proterra announced that San Francisco International Airport (SFO) has purchased six 40′ Proterra Catalyst E2 electric buses and three 60 kW Proterra plug-in chargers, joining a growing list of airports across North America transitioning to electric buses for airport ground transportation. The new battery-electric bus fleet will reduce Bay Area emissions and support SFO’s goal of carbon neutrality by 2021 while cutting its bus operating costs.

As one of the fastest-growing airports in the U.S., SFO has ambitious plans in place to reduce its carbon footprint. SFO’s Five-Year Strategic Plan sets goals of carbon neutrality across airport-controlled operations by 2021 and the reduction of greenhouse gas emissions by 50 percent from a 1990 baseline. Part of that plan includes the creation of a Clean Vehicle Policy to promote the adoption and deployment of low emission vehicles by both airport departments and ground transportation providers. The new battery-electric Proterra Catalyst buses will replace six diesel buses in its current operating fleet and will eliminate more than 23 million pounds of greenhouse gas tailpipe emissions over the 12-year life of the vehicles. SFO expects to purchase additional battery-electric buses to replace its CNG vehicles, for a greener, more modern fleet.

“Earth Day serves as a call to action; an opportunity for us to reaffirm our commitment to the environment,” said Airport Director Ivar C. Satero. “SFO is an airport industry leader in sustainability, and we have set big goals to achieve zero net energy use, zero waste, and carbon neutrality. By deploying San Francisco’s first public battery-electric buses, we’re on the path to zero emissions in our ground transportation services, leading the way in our quest to be the world’s most sustainable airport.”

The new electric buses will integrate batteries that are designed and manufactured down the street from the airport at Proterra’s Silicon Valley headquarters in Burlingame, California. With 440 kWh of battery capacity on board, the buses will be part of SFO’s fleet that currently provides buses to shuttle passengers between the terminals, long-term parking garages and other airport locations along daily routes.

SFO joins other California airports that are leading the electrification trend across ground transportation fleets, including Sacramento International Airport (SMF) and Silicon Valley’s Norman Y. Mineta San José International Airport (SJC). Beyond California, five additional airports across the country have chosen Proterra electric vehicles for their ground transportation needs, including Raleigh-Durham International Airport (RDU), Honolulu International Airport (HNL), John F. Kennedy International Airport (JFK), Newark Liberty International Airport (EWR) and LaGuardia Airport (LGA).

“San Francisco International Airport has long been a leader in sustainability and joins other forward-thinking airports around the country in transitioning ground fleets to 100 percent battery-electric buses,” said Proterra CEO Ryan Popple. “We are proud to help one of our local airports offer superior service and meet its sustainability goals while also providing reduced vehicle maintenance costs and lower total cost of ownership.”

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No surprises: New York, London and Tokyo top the list of world’s 15 richest cities

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Boston, Calgary, Perth and Macau – all associated with material wealth – have failed to make this list of the 15 richest cities in the world, compiled by market research firm New World Wealth.

The data gathered by the researchers reflects the total amount of private wealth held by all the individuals living in each of the cities on the list. Unlike traditional ratings, this top 15 is not based on Gross Domestic Product (GDP), but reflects analysis that covers all assets, such as property, cash, equities and business interests, excluding liabilities. Government funds are included.

1. New York City – $3 trillion

2. London – $2.7 trillion

3. Tokyo – $2.5 trillion

4. San Francisco Bay Area – 2.3 trillion

5. Beijing – $2.2 trillion

6. Shanghai – $2 trillion

7. Los Angeles – $1.4 trillion

8. Hong Kong – $1.3 trillion

9. Sydney – $1 trillion

10. Singapore – $1 trillion

11. Chicago – $988 billion

12. Mumbai – $950 billion

13. Toronto – $944 billion

14 Frankfurt – $912 billion

15. Paris – $860 billion

According to New World Wealth, wealth is a measure that differs from a GDP indicator, which is another common metric used to gauge economic power. The research firm revealed that Houston, Geneva, Osaka, Seoul, Shenzhen, Melbourne, Zurich and Dallas had just missed out on the top 15.

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New team member at The Pod Hotels

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The Pod Hotels is striving to address the rapidly-increasing demand for affordable lifestyle hotels targeted at progressive-minded and budget-conscious travelers who are creative and ambitious and who maintain high expectations when it comes to authentic experiences, smart design and intuitive technology.

As part of this progress, BD Hotels today announced the appointment of Rani Gharbie as the Head of Acquisitions & Development for The Pod Hotels, BD Hotel’s highly profitable micro-hotel concept to replicate this successful business model in even more key markets including Miami, San Francisco, Chicago, Austin, Boston, Nashville, Seattle, Montreal, Toronto, and Mexico City, amongst others.

Gharbie formerly oversaw development and acquisitions for North America at Virgin Hotels where he actively contributed to grow the brand’s footprint in key markets.

As Head of Acquisitions & Development working closely with BD Hotels owners Richard Born and Ira Drukier, Gharbie will be responsible for identifying potential investment opportunities and bringing together strategic partners and investors to fund future projects in numerous markets. He will leverage BD Hotels’ expertise in hotel development, investment and operations to expand The Pod Hotels brand across the country and eventually globally.

“Rani joins us at a pivotal time as we scale The Pod Hotels portfolio exponentially in North America” said Richard Born, Owner of BD Hotels. “He will undoubtedly be a tremendous asset as he brings over 20 years of experience in hotel acquisitions, development and operation.”

“I’m looking forward to expanding the profitable model Richard and Ira created to key markets nationwide,” said Gharbie. “I see great growth potential for the brand as there is an increased desire from today’s travelers to stay at smart, innovative brands like The Pod Hotels.”

Prior to joining Virgin Hotels, Gharbie was the Managing Director and Founder at Cedar Funds, a New York City based development and investment firm with a focus on progressive hotel and real estate assets, as well as regional Director of Development with InterContinental Hotels Group (IHG). In addition, Gharbie is an Adjunct Professor at Columbia’s Masters in Real Estate Development program, where he teaches the spring course Private Equity Development, Hotel Focus. He holds a Masters Degree from the program, an MBA from the HEC Business School in Montreal, a Bachelor degree in Hotel Management from the Glion Hotel School in Switzerland, and a Certificate in Hotel Real Estate Investments and Asset Management from Cornell University in New York.

The Pod Hotels currently has five properties in the portfolio, three of which opened over the past two years (the brand’s flagship Pod Times Square opened in January 2018; Pod DC and Pod Brooklyn opened in 2017), with the brand recently announcing two more hotels in the direct pipeline (Pod Philly opening in fall 2019 and Pod LA slated for 2020). With its functional guestrooms, vibrant communal space and flexible design, The Pod Hotels presents superior investment returns when compared to legacy hotel brands of similar positioning.

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California-based Surf Air eyes profitability in 2019

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A turbulent year for Surf Air has finally come to an end. Exciting recent updates have already resulted in massive improvements to its scheduled service and membership growth.

A recent lawsuit against Encompass Aviation, its former flight operating partner, has been settled. Under the terms of the settlement, Surf Air has regained full access to its entire fleet of branded Pilatus PC-12s, an unfortunate consequence of negotiations that caused severe disruptions to the company.

“By doubling down on our most popular routes and eliminating non-core flying we have proven route profitability and that the fundamental business model works. Our plan for 2019 is to continue to invest further into these core markets and expand access to Surf Air through new, more flexible membership product offerings,” says Surf Air Chairman & CEO Sudhin Shahani.

Recent Club Updates:

A Robust Core Schedule

Surf Air has rebuilt a core schedule and added more flights across its most important routes: Los Angeles, San Francisco, Santa Barbara, and Lake Tahoe. The company will continue to add flights as it continues to acquire more members.

The company will also add back leisure weekend destinations as it makes sense (Las Vegas, Napa, Monterey, and Palm Springs).

Best-in-Class Reliability

With the help of Advanced Air, the company’s current third-party flight operator and long-time partner, they’ve restored operational reliability to its former best-in-industry levels of over 90% completion factor.

“Advanced Air has been a critical partner during this transitional period. With their proven professional and safety record, they’re the perfect, value-aligned partner to continue to scale our business,” says Sudhin Shahani.

Flexible, Per-Seat Membership

Perhaps Surf Air’s most promising opportunities for scaling membership growth is the new Express membership, allowing flyers to buy and fly on a per-seat basis. Meaning, for the first time, less frequent flyers can enjoy the time-savings benefits of zero hassle air travel.

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