HONOLULU (AP) — Hawaii's hotel industry set records for room rates in February as more tourists traveled to the islands from around the world, according to a monthly study issued by a private consulting company.
The average rate hotels charged for their rooms surged 13 percent to $233.30 in February, according to the study by Smith Travel Research and Hospitality Advisors. That's the highest average daily rate ever recorded for the month of February.
Average daily room rates on Oahu hit an all-time high of $209.18. No room rate records were broken on the Big Island, but they still rose nearly 10 percent to $222.05.
Joseph Toy, president of Hospitality Advisors LLC, predicted hotel revenue will set a record during the first quarter of the year.
"We're seeing a boom in the travel industry nationally and in fact globally," said Joseph Toy, president of Hospitality Advisors LLC. "Coming out of the global recession, there's been a lot of pent up demand for travel overall. Throughout the country and most of these destinations, we're seeing a bump."
Hawaii in particular is benefiting from the return of more Japanese visitors and growing numbers of travelers from South Korea and China, he said. More Australians are also coming to Hawaii to take advantage of their nation's strong currency.
A rise in international travel tends to give Oahu a disproportionate boost because Honolulu's airport is the only one that currently receives flights from overseas.