The Real Deal Miami

Rough 2010 for the Delano

March 02, 2011 10:11AM

Occupancy, rates and per-room revenue all fell last year at the Delano South Beach, according to the Morgans Hotel Group’s release of financial results for the fourth quarter of 2010 and the entire year. Occupancy at the hotel dropped to 61.1 percent, from 62.3 percent, with rates dropping to $293 per room, from around $480. The nearby Shore Club actually saw an increase in occupancy, but with a 7 percent drop in rates to $284 per room. Mondrian South Beach had the lowest rates among the company’s Miami Beach hotels, and accordingly saw a jump in occupancy to 59 percent and an increase in average daily rates to $232. [Miami Herald]