Hawaiian Hospitality

The record air passenger arrivals and the increasing popularity of timeshare and resort residential developments have boosted recent interest in building new resorts in Hawaii. New, exciting concepts from family-oriented to ultra-luxury resorts are entering this market with plans on widening the breadth of service offerings for the island’s visitors.

Topping this list is the recent announcement of Disney Resorts selecting Ko Olina on the island of Oahu for its first stand-alone hotel development not associated with a theme park. Its plans are to build an 800-unit hotel that encompasses the Disney Vacation Club timeshare concept that has more than 350,000 members. Disney paid $144 million to acquire the property, which is situated on 21 acres of oceanfront land.

This is a unique concept for Disney and a great opportunity for Hawaii to benefit from Disney’s marketing and brand name.

On the other side of the hotel development spectrum are the plans by Starwood Capital Group to build an upscale Baccarat Resort. Capitalizing on the Baccarat crystal and jewelry luxury brand, the planned resort will demolish the former Wailea Rennaissance Hotel on Maui and replace it with 193 one- to four-bedroom residences. All units will have ocean views and include access to personalized concierge services. Architectural design and interiors are being directed by HKS Hill Glazier Studio and by world-renown interior designer Yabu Pushelburg. The planned opening of the Wailea Baccarat is 2010.

Similarly, an affiliate of Montage Hotels and Resorts purchased 122 acres on the North Shore of the island of Kauai. Overlooking picturesque Hanalei Bay, Montage has no immediate plans, but intends on eventually building an ultra-luxury resort.

Timeshare Development

Most hotel and resort developments are focused on the luxury marketplace as rising construction costs and land prices dictate the need for higher hotel room rates. In fact, most resort developments have had to incorporate a timeshare/fractional ownership component as well as a resort residential component to subsidize the development of a hotel.

Timeshare sales continue to be healthy with projects in Waikiki, Ko Olina, Wailea, Kaanapali, Kapalua, Waikoloa and Poipu on the drawing boards. Developers are capitalizing on the Hawaii brand and its unique appeal. In fact, many timeshare operators realize the importance of a Hawaii location as a way to bolster their appeal to timeshare investors, many of whom are willing to pay a premium for a vacation resort in Hawaii.

Hotel Transactions Record Volume

Hotel revenue and operating success bred increased interest from institutional investors seeking prized resort properties for investment. Sales transaction volume for commercial real estate increased fivefold from $850 million to a 2005 record of $4.3 billion. For 2007, hotel properties constituted the majority of the total transaction volume by contributing nearly $1.4 billion in activity. Topping the list were two major properties — the Hyatt Regency Waikiki sold for $475 million and the Makena Resort on Maui sold for $575 million. On the market and projected to close in the near term are two Resort Quest Hotels and the Fairmont Orchid on the Big Island of Hawaii.

Hawaii Hotel Market Analytics

For year-to-date October 2007, the Hospitality Advisors LLC industry report noted that Hawaii’s hospitality industry continued to post solid RevPAR and ADR gains. Average hotel room rates rose from $186.17 to $198.82 as RevPAR grew from a statewide average of $150.24 to $151.33 in the past year. Overall, Hawaii’s hotels ranked second in RevPar growth only to New York City. Percentage increases in the past year in average daily room rates for mid-priced hotels surpassed luxury and upscale hotel brands by posting an 11 percent increase, compared to 5.5 percent and 7.7 percent, respectively.

Despite these financial gains, hotel occupancy rates fell from the prior year. As of October 2007, the year-to-date occupancy rate for Hawaii’s hotels decline from 80.7 percent to 76.1 percent. This decline coincides with increased economic concerns over the drop in residential home appreciation rates, rising fuel costs and decreased personal income being encountered in the United States.

After growing to 7.5 million air passenger arrivals for 2005, capacity constraints limited our growth in 2006 and 2007. Both Hawaii’s hotel inventory and airline seats reached a level near capacity. After 4 solid years of robust growth in air passenger arrival counts and visitor spending, Hawaii’s hospitality industry posted only marginal growth in the past year.

Forecast 2008

Investors continue to remain enamored with Hawaii’s hotels and resorts. Shortage of prime vacation resort properties worldwide attracted institutional investors throughout the world to Hawaii’s shores. Japanese, Korean, Chinese and Australian as well as North, Central and South American firms are scouring the islands for attractive resort investment opportunities. The recent purchases of resort land bode well for increasing Hawaii’s hotel inventory and allow for continued growth in air passenger arrivals and visitor spending.

Despite Hawaii’s isolated location, it is not immune to the subprime woes and credit crunch that stirred concerns of a possible U.S. recession. Many transactions are likely to be re-traded or be faced with increased scrutiny of financial statements and projections by lenders. Investment sales transaction volume will slow through 2008 as investors reappraise their asset allocations into real estate. Those institutional investors willing to capitalize on this lull in activity by conducting thorough due diligence will find that Hawaii hotels and resorts remain a lucrative investment opportunity.

Full Article Resourse:  markbratton.com/blog/

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Accommodation of the resort’s 52 acres fronts nearly a mile of white-sand beach, and long walks are to be expected. Equally impressive is the lagoon-style pool, the finest on the island. With no building higher than the tallest palm, this hotel has a low-profile look that disguises an immense range of facilities like: Swimming pool, golf course, fitness center, spa/massage, broadband access, kitchen, hot tub, tennis, bicycling tracks, Whirlpoll bath. Grant Hyatt Kauai’s Dining includes 6 restaurants, 6 bars which are huge in numbers as compare to other hotels in Hawaii.

A high-powered telescope is set up four nights a week for star gazing and the hotel. Swimming pool, Jacuzzi, fitness center and spa are available for guests. Tennis Park includes 13 tennis courts, pro shop, and state-of-the art video and open-air bar with incredible views. Environmentally sensitive 18 hole golf coarse offers world class golfing. Kids program available which are not in other hotels in Hawaii.

Exterior of the Hotel is the modern resort comprises of 3 towers, two 9 stories in height and one 5 stories in height. A gold course and the beach surround the property.

Lobby includes the lobby is medium sized with a waiting area for guests. Plants surround the lobby adding to the relaxing feel of the property. Furnishings and style are modern.

This hotel offers great family dining at Chilies and the best of both worlds; the Waikiki beach atmosphere a block away, and the city ambience. From getting country dance lessons to hanging out at the poolside bar, this place spells vacation getaway. Grab a margarita and make your way outdoors to a vibrant poolside lounge where you can meet other guests and bask in the Hawaiian sun. Well fitted with pharmacy and photo amenities, with plenty of dining options, you won’t have to scout around Waikiki for a place to dine or run errands. But if you do head out, you’re on a great metro street host to a whole range of bustling beach-life restaurants and pubs. For staying in, cook up some eats in your very own kitchen and relax, taking in the full views of your centrally located room.

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Some travelers attempt to save money by investing in coupon books that provide great discounts on Hawaii hotels. However, travelers must bear in mind that a coupon book does not necessarily provide the traveler with a lot of different hotels to choose in the area, and hence may miss out on a better deal on Hawaii cheap hotel, which could have been uncovered with a few minutes of research on the Internet.

The Internet is an excellent place to look for a Hawaii Cheap Hotel. Cruise through a great Hawaii hotel reservation website to find a perfect hotel that will make your dream vacation an unforgettable experience. The Internet allows travelers to examine a variety of hotel accommodations in Hawaii and to directly compare packages, rooms, rates, and amenities. Some hotel reservation websites also shows the address of specific hotels in a Google map, so you will get a better understanding of these hotels’ locations in the island.

Most hotel reservation websites list Hawaii hotels in ascending order from lowest to highest in terms of room rates so that the traveler can examine the lowest priced hotels before assessing more expensive accommodations. However, it is not always economical to choose the least expensive hotel. In fact, it may be worth spending just a little bit more money on a hotel that is more centrally located. The primer location could end up saving you money on transportation costs, thus justifying the extra cost on the hotel. Some hotels may include tour trips in the price of the stay, or offer them at a reduced cost. Others might have discounts worked out with local car rental businesses to offer reduced cost car rentals. By researching what each individual hotel offers you may find that by purchasing a higher end hotel you could end up saving on the costs of activities. Let’s not forget the invaluable cost of having a majestic view of the area attractions.

Finding the perfect Hawaii cheap hotel for your trip can be time consuming. By utilizing the Internet you can save both time and money while researching your best Hawaii hotel option. Check out Honolulu Hotels to book your next Hawaii trip online. The well-organized manner in which the hotels are presented as well as the descriptive content of each hotel will make planning out your dream Hawaii vacation a breeze.

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