Hotel occupancy rose faster where rooms are fewer

Miami /
Aug.August 28, 2016 09:00 AM

Hotel occupancy rates in July increased in Palm Beach County, rose slightly in Broward County and flattened in Miami-Dade County.

Hotel industry data source STR reported that Miami-Dade’s hotel occupancy rate in July was 78 percent, or a tenth of a percentage point higher than in July 2015.

Miami-Dade had 53,488 hotel rooms on the market in July, about 6,400 more than Broward and Palm Beach combined, according to STR.

Miami-Dade’s average daily room rate in July  was $157.97, up 1.2 percent from July 2015, and revenue per available room in July rose 1.3 percent, year over year, to $123.23.

STR reported a 71.9 percent hotel occupancy rate in Palm Beach County during July, 4.8 percentage points higher than a year earlier. The county had 16,654 hotel rooms available in July.

Palm Beach County’s average daily room rate in July was $123.56, 1.2 percent more than in July 2015, and revenue per available room in July was $88.87, a year-over-year increase of 6 percent.

STR also reported that Broward’s hotel occupancy rate in July increased 1.7 percentage points, year over year, to 79.4 percent.

Broward’s available hotel inventory in July totaled 30,421 rooms.

The county’s average daily room rate in July increased to $114.27, up 5 percent from July of last year. Revenue per available room in July rose to $90.71, a 6.8 percent year-over-year increase. [South Florida Business Journal] — Mike Seemuth


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