First-quarter Miami hotel rates highest in nation

Daily room rates averaged $246.30 in the January-March period as occupancy dipped

May.May 14, 2016 09:15 AM

Delano South Beach

Hospitality data provider STR reported that Miami-area hotels commanded the highest daily room rates in the nation during the first quarter even though their occupancy dipped a bit amid a surge in hotel construction.

STR reported that the area’s average daily room rate in the January-March period was $246.30.

The first-quarter hotel occupancy rate averaged 83.2 percent in the Miami area, down from 84.8 percent  last year.

Miami’s average room rate topped comparable rates in cities that compete closely with Miami for tourism, including New York City ($202.07)  San Francisco ($235.57) and Oahu, Hawaii ($220.41).

Research by the Greater Miami Convention and Visitors Bureau shows that developers of 38 hotel projects will add 7,472 new rooms to the Miami area over the next three years, despite competition from companies like Airbnb.

“Both the Marriott brand and the Hyatt brand are expanding their commitment to Miami,” Rolando Aedo, senior vice president, marketing and tourism, of the convention bureau, told the newspaper. [Miami Today] — Mike Seemuth

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