Tough times are ahead for Hawaii’s economy as its major industry hits the skids, according to a report in the Honolulu Star-Bulletin.
Tourism is the state’s top industry and fewer tourists are coming this year than last year, Joseph Toy, president and chief executive of Hawaii-based consulting firm Hospitality Advisors LLC, told the newspaper.
The slipping national economy is taking a toll, and the state is also suffering from the collapse this year of ATA Airlines and Aloha Airlines, which had been two of the biggest carriers between the West Coast and Hawaii.
Hotel revenue was off $156 million during the five-month period between April and August, with the largest share of the drop during peak summer months, Toy said.
The summer season saw a 10.5% percent drop in room nights sold and a 14.9% drop in visitor arrivals, according to a report released by Toy’s firm.