Going viral: Zika isn’t the only thing bugging the Miami-Dade hospitality market

From the March issue: The Centers for Disease Control (CDC) still lists all of Miami-Dade County as a cautionary “yellow” Zika area. And Miami-Dade hotels have reported a significant slump in business. But is Zika the main reason for the decline?

No, asserted Bobby Bowers, senior vice president at STR, a research company that analyzes hotel data. Bowers said the slump has more to do with an oversupply of new accommodations. About 4,000 hotel rooms were completed in Miami-Dade last year, Bowers said, increasing the inventory to 58,000. And another 3,579 rooms are currently under construction.

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Also, the strong U.S. dollar made it more expensive for foreign tourists to travel to Miami, especially travelers from Latin America, where the economy has weakened.

But what about Zika? [more]