The Real Deal New York

Florida Keys getting 1,600 new hotel rooms

Growth comes despite significant regulations

November 30, 2015 01:30PM
By Robert Silk

The Gates is one of a trio of hotels that will welcome travelers to the island chain’s southernmost link.

The Gates in the Florida Keys

From the South Florida Market Report: High room rates expected to continue for the forseeable future are fueling a hotel redevelopment boom in the Florida Keys.

“The dynamic for investment at this point is very, very good,” said hotelier Jim Rhyne, who is in the process of renovating and expanding his Coconut Cay Resort & Marina in Marathon.

According to projections, by the end of next year, more than a dozen Keys resorts will have either relaunched after a major renovation or opened for the first time since the start of 2014. These properties will account for about 1,600 rooms. [more]