The Hawaii tourism sector continues to perform well. Even with the summer travel season completed, we are still seeing visitor arrivals at 90% or greater compared to pre-pandemic levels from 2019. The majority of those visitors are from the U.S. mainland. International travel to Hawaii is starting to gradually pick up now that Japan has dropped travel restrictions and is fully open. The weak yen does present some headwinds. Despite that, we expect a recovery of Japanese visitors going into 2023 due to significant pent-up demand. This timely recovery will support Hawaii's overall economy, which could experience a moderate slowdown in other sectors in 2023. Visitor spending is strong, reaching $1.7 billion in August, an increase of 13.8%, compared to the same month in 2019. Hotel performance continues to improve with total statewide hotel occupancy at 77% and an average daily rate of $380 in August.

Oct 21, 2022 / CEO / receipt, needs a key / Paul Yonemune, CEO | earnings call 2022-10-21 | transcript e8188675-2f42-492c-8e61-2713eed561bc | chars 1970-2880 | segment 2