HONOLULU, HI (December 11, 2014 — Hospitality Advisors LLC and the Hawai‘i Tourism Authority (HTA) released the first four reports of the “Hawai‘i Timeshare Quarterly Survey Report,” with the support of the American Resort Development Association (ARDA). These initial reports include data from July 2013 through June 2014 from more than 70 percent of the state’s timeshare inventory, and encompasses survey results from state and county tax contributions, guest mix, employment and payroll expenses for Hawai‘i’s timeshare industry.
“As a research-based organization, the HTA utilizes various data-driven studies to monitor and respond to different facets of the tourism industry,” said Ronald Williams, HTA’s CEO. “Timeshares have become increasingly popular, therefore this ongoing study will provide us with valuable insight into the market and how it impacts the rest of our tourism economy.”
Highlights from the first four reports include data collected over a 12-month period from
July 2013 through June 2014, and include:
- More than $45.8 million in state and county tax revenue was generated by the timeshare properties surveyed;
- Kaua‘i timeshares generated the highest taxes per unit ($13,360), followed by O‘ahu ($11,704), Maui ($11,187) and Hawai‘i Island ($9,077);
- Approximately 10 percent of all visitors to the Hawaiian Islands stayed in a timeshare property during their visit, of which 22.9 percent stayed at a timeshare property and another accommodation, including hotels, resort condominiums or individual vacation units, generating additional state and county taxes;
- The average statewide occupancy for timeshare properties (89.9%) is higher than for hotel properties (77.5%)
- Timeshare occupancy was highest on Maui (92.1%) and O‘ahu (91.2%), followed by Kaua‘i (88.5%) and Hawai‘i Island (85.9%);
- O‘ahu has the highest percentage of timeshare owner use among all islands at 64.3 percent with Kaua‘i having the lowest owner use percentage at 51.4
- Employment by timeshare properties increased 44.5 percent from 3,245 to 4,690 employees;
- Year-to-date through June 2014, approximately 16.7 percent of timeshare visitors to the state were first-time visitors, who have a tendency to become repeat travelers for the destination;
- A significant portion of timeshare units were not used by owners but were exchanged with other timeshare owners (19.0%), while other unoccupied units were sold as hotel rooms for transient use (16.3%); and
- Hawai‘i Island received the most timeshare exchange visitors (28.4%) and transient use (18.8%) visitors, in comparison to exchange visitors on O‘ahu (12.8%) and transient use on Maui (15.0%).
“We are pleased to present the ‘Hawai‘i Timeshare Quarterly Survey Report,’ which offers valuable insights into the dynamics and economic contributions of Hawai‘i’s timeshare industry,” said Joseph Toy, president and CEO of Hospitality Advisors LLC. “Since this study is the first of its kind, we are continuing to further refine and enhance our methodology in order to provide useful data in understanding this unique sector of the tourism industry.”
The “Hawai‘i Timeshare Quarterly Survey Report” is available on the HTA website at www.hawaiitourismauthority.org under Infrastructure Research. The next report will include data from July through September 2014 and will be available in January 2015. The Hawai‘i Tourism Authority is a state agency established by law in 1998 to ensure a successful visitor industry and tourism economy in the state of Hawai‘i. As the state’s tourism authority, its mission is to strategically manage tourism to optimize benefits for Hawai‘i, integrating the interests of visitors, the community and visitor industry. Through the implementation of the statewide Hawai‘i Tourism Strategic Plan and HTA’s own strategic plan, the authority works to direct Hawai‘i tourism in a sustainable manner consistent with our economic goals, cultural values, preservation of natural resources, community desires and visitor industry needs. For more information on the HTA, please visit www.hawaiitourismauthority.org, find us on Facebook or follow us on Twitter.
Hospitality Advisors LLC is Hawai‘i’s leading hospitality consulting firm, specializing in strategic, financial, market and economic analysis for Hawai‘i’s visitor industry. Hospitality Advisors LLC has built an impressive client list that includes some of the world’s largest hotel owners, investment funds and management companies. Its service capabilities range from global tourism strategy studies to strategic consulting services related to property acquisition, repositioning, market analysis, litigation and asset management. For more information about the organization, contact (808) 550-8955 or visit www.hospitalityadvisors.com.
PRESS RELEASE SOURCE: THE HAWAI‘I TOURISM AUTHORITY AND HOSPITALITY ADVISORS
Hawai‘i Tourism Authority
Stryker Weiner & Yokota
(808) 523-8802/722-9445 (cell)