First-quarter Miami hotel rates highest in nation

Miami /
May.May 14, 2016 09:15 AM

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


Related Articles

arrow_forward_ios
From left: Hyatt's Mark Hoplamazian and Gencom's Karim Alibhai along with a rendering of the proposed James L. Knight Center, a three-tower development at 400 Southeast Second Avenue (Getty, Hyatt, Gencom)
Miami voters approve James L. Knight Center redevelopment
Miami voters approve James L. Knight Center redevelopment
Renderings of the project with developer Rishi Kapoor (Location Ventures)
Rishi Kapoor launches Edition Residences in Fort Lauderdale
Rishi Kapoor launches Edition Residences in Fort Lauderdale
(Getty)
Here are the resi projects planned for downtown Miami
Here are the resi projects planned for downtown Miami
Hyatt CEO Mark Hoplamazian and Gencom Founder and Principal Karim Alibhai with a rendering of the proposed three-tower development at 400 Southeast Second Avenue (James L. Knight Center) (LinkedIn, Gencom, Arquitectonica)
Hyatt, Gencom score Miami commission approval for James L. Knight Center referendum
Hyatt, Gencom score Miami commission approval for James L. Knight Center referendum
(left) Hyatt Hotels' Mark Hoplamazian and Gencom's Karim Alibhai (right) with Miami Riverbridge (LinkedIn, Gencom, Arquitectonica)
Hyatt, Gencom advance three-tower project planned for Knight Center site
Hyatt, Gencom advance three-tower project planned for Knight Center site
renderings of the proposed three-tower development on the site of an existing Hyatt and the James L. Knight Center on the Miami River at 400 Southeast Second Avenue, Miami (Arquitectonica, Gencom, LinkedIn)
Third time’s a charm? Hyatt and Gencom unveil new plan for hotel, apartments on James Knight Miami River site
Third time’s a charm? Hyatt and Gencom unveil new plan for hotel, apartments on James Knight Miami River site
Sunstone's Bryan Giglia and Douglas Pasquale with 4041 Collins Avenue (Sunstone Hotel Investors, Google Maps)
Sunstone puts The Confidante Miami Beach under contract for $232M
Sunstone puts The Confidante Miami Beach under contract for $232M
Renderings of the Hollywood Courtyard by Marriott hotel (Adache Group Architects)
MHG Hotels plans to redevelop downtown Hollywood properties into Courtyard by Marriott
MHG Hotels plans to redevelop downtown Hollywood properties into Courtyard by Marriott
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...