The Real Deal Miami

Spring break broken

April 24, 2009 01:37PM

Room rates in South Florida dropped 18 to 22 percent while hotel occupancy in the region showed no growth and fell in some areas. Tourist season is no cure for the state’s economic woes. Smith Travel Research, which identifies the spring break period as a peak season, said the market will bottom out this year and forecast a 7 percent growth in Miami Dade room rates. Jones Lang LaSalle predicts Miami-Dade hotel rates will top last year’s levels by 2012.