Hotels see further drops in occupancy, room rates

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South Florida hotel occupancy and room rates fell again last week, Smith Travel Research reported. Occupancy in Miami-Dade hotels was 62.5 percent for the week ended Oct. 24, down from 68.5 percent at the same time last year, and room rates fell to 9.7 percent $128.42. Occupancy in Broward fell slightly to 63 percent from 63.5 percent last year, and Palm Beach County saw a 4.4 percent drop to 56.2 percent. Rooms in Broward went for just $96.21 per night, down from $112.48 last year, and in Palm Beach, they dropped 14.2 percent over the past year to $105.02. Nationally, hotel rooms are going for $100.04 per night, an 8.3 percent drop from last year’s prices. [SFBJ]

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