Recent developments indicate a possible downturn in notoriously high Hawaii hotel prices. Is this a glimpse of hope for tourists and local businesses alike amid economic pressures and regulatory changes?
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33 thoughts on “Signs Of Hawaii Hotel Price Softening Amid Economic Challenges”
It’s not realistic to compare pre-Covid prices to today’s prices. Inflation has reared its ugly head in the interim. You will never see pre-Covid prices again, because the expenses for businesses have inflated rapidly, property insurance has become astronomical because of fires and floods, and the government has almost doubled property tax assessments and rates.
For the visitor, wages have not kept up, so they are feeling the pain acutely. It kind of reminds me of the ‘70’s and ‘80s, when inflation and interest rates went off the charts, and wages scrambled to keep up.
If hospitality businesses were to charge the same rates as those of 2019, they would quickly go bankrupt.
A shakeout is in the offing.
It’s all part of their long-term strategy: get rid of STR’s, comfort the distraught visitor with “discounts,” then jack prices back up when they’ve eliminated the competition. Just like drug dealers…
You’ve got it down, Kathy. Very insightful and absolute truth. It’s happened in every other city where the Hotel Lobby has been able to ban Airbnb’s.