The Real Deal Miami

SF hotel occupancy jumps 5 percent in May

June 27, 2011 03:34PM

  • Print

South Florida’s hotel occupancy climbed to 68.2 percent this May from 63.2 percent in May 2010, an indication that the industry is rebounding, according to Smith Travel Research’s Trend Reports reported by the South Florida Business Journal.

The average daily room rate jumped 7.3 percent, to $123.31 from $114.92.

Miami-Dade beat out the other three counties by experiencing the largest year-over-year occupancy gain — to 73.4 percent from 67.3 percent. Average daily rate also climbed 8.4 percent, year-over-year, to $144.52 from $133.35.

The average hotel occupancy in the Fort Lauderdale market rose to 68.4 percent from 63.8 percent in May 2010. The average daily rate jumped 3.7 percent, to $105.68 from $101.92.

Average daily room rates at West Palm Beach area hotels increased to $119.73 from $109.50. The average occupancy at West Palm Beach hotels rose to 62.8 percent from 58.5 percent. [SFBJ]

MENU

Subscribe to our email newsletters

New York Real Estate News
South Florida Real Estate News