For an unprecedented 16th time, “Maui, the Magic Isle” captured “Best Island in the World” honors in the 23rd annual CONDE NAST TRAVELER Readers’ Choice Awards Poll. With a score of 90.7, it also garnered “Best Pacific Island” for the 20th consecutive year. According to the magazine, “Maui is the only island to score above 90, making it No. 1 in the world for the sixteenth time.” That is 16 out of 20 years that Maui has been ranked number 1. Read Full Press Release –>.
Now consider, today’s article. Maui ranks high in hotel stays, prices. This article delves into details of occupancy and room rates. “But because Maui enjoyed better occupancy rates than either, hoteliers here realized more money, a revenue per available room amount of $155, up 7.7 percent.”
Good investors look for good predictors. Let’s think about this:
- Maui is #1 preferred island vacation spot; this has been consistent for 20 years!
- Maui is in the top 10 in worldwide revenue per room based on occupancy rates and room rates.
- Maui occupancy rates have been going up each quarter for the last year.
- Market prices are at 5 year lows, there is plenty of great inventory to choose from and interest rates are at all time lows.
- The Maui condominium market is a significant part of the Maui Tourist trade. With 140+ vacation rentable condominium complexes, return visitors often prefer a “home away from home” to hotels or timeshares.
If you’d like to find out more about this exciting market, contact Kathy today.