Miami Hotels Recovered Faster From The Pandemic Than Any Other City Worldwide, Report Says

No other major city in the world saw hotel profits recover as fast as Miami during 2021, according to a new report from hotel research firm STR.

Miami’s recovery from the pandemic was so strong, that it was the only city in STR’s worldwide index to actually see 2021 hotel profits above what they were before the pandemic.

The gross operating profit per available hotel room in Miami was 14% higher than it was in 2019, the report said.

Dubai ranked second in the world, but was still below 2019 levels (with 2021 levels at 95 percent compared to 2019).

Tampa ranked second in the U.S. behind Miami.

San Francisco was the worst performing market, with profits at just over 1% of what they were in 2019.

 

The Grand Hyatt planned in Miami Beach:

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Anonymous
7 months ago

The law of supply and demand does not fail. While most countries and cities have imposed major restrictions on movement, Miami has remained open, welcoming throngs of tourists and new residents. The results could not be different: crowded hotels and generating profit, increase in property prices and rentals.

Anonymous
7 months ago

Not true, Dayton, Ohio is open for business and the hotels are empty. People want to come to Miami for our weather, beaches, and nightlife. Miami is known worldwide; It’s a global city.

Anonymous
7 months ago

Dayton Ohio isn’t as popular as Miami as the reasons you’ve stated, but I think the poster was highlighting the fact that Miami and FL have remained open after the first shut down to the benefit of people and businesses.

Anonymous
7 months ago

Dayton has remained open as well. It’s a moot point.

Anonymous
7 months ago

With that logic, NYC is a global city, yet the hotels are all empty because its run by tools who love never-ending, arbitrary COVID restrictions, high taxes, and unequal enforcement of the law.

Anonymous
7 months ago

“NYC is a global city, yet the hotels are all empty”

Present the facts of that…

Anonymous
7 months ago

Dayton Ohio is a sleepy small town.
You can’t begin to compare a small farm town with a global international City like Miami.

Anonymous
7 months ago

Is that really true? I saw a light on at the Motel 6 Dayton.

Anonymous
7 months ago

You want to contest facts, based on a comparison between Miami and Dayton, which most Americans have never heard of and don’t even know where it is. See that the report compares cities like Miami, Tampa, San Francisco and Dubai.

Anonymous
7 months ago

Gee, I wonder if people who came to Miami Beach and mainland Miami because of what some citizens in Miami say, “using their stimulus checks,” will get some credit for this good news?

Anonymous
7 months ago

Ooops….
This may be the time that the law of supply and demand DOES fail.

For instance, plenty of Canadians DEMANDED New York hotel rooms over the past 2 years, and it is a fact that New York has a huge SUPPLY of hotel rooms, external forces in Canada like travel restrictions and external forces like lockdowns in NYC prevented the Free Market from working for New York hotel rooms.

Miami wins….but maybe we should apply laws of least resistance or something else.

Anonymous
7 months ago

I knew there was no stopping Miami when the Four Seasons Surf Club in Surfside continued having the highest rates in the metro even after it was several blocks from the collapsed building.

Anonymous
7 months ago

So y’all can thank Desantis for this… I know it hursts liberals to admit he’s right!!! See the difference between Miami and San Fran

Anonymous
7 months ago

Thank Desantis or thank Biden for keeping people from being thrown out on the streets because they couldn’t afford the rent or mortgage anymore after losing their job and his stimulus packages for the country?

Anonymous
7 months ago

Biden…you mean the guy that called it neanderthal thinking to open up, be maskless and have schools open???? I don’t think he’s behind anything going well in Fl right now.

Anonymous
7 months ago

Biden is the president right now while deaths from covid and hospitalizations from it has been going down, down, down. But I don’t expect Biden to get any credit for that from you. Do a quick google search on some of these rightwing radio talk show host who talked against getting the covid vaccine and later died from it. People moving to Florida from Northern and Western states are whats fueling Florida’s economy right now so stop it with the Desantis butt licking, okay.

Anonymous
7 months ago

I mean I hate DeSantis, but you ain’t wrong

Anonymous
7 months ago

Because everyone loves Miami and wants to be in Miami! The remote work scenario showed us that! So let’s create an environment for people to stay by having a ton of office space and career jobs, great education and public transportation!

Anonymous
7 months ago

Yes! Let’s maximize the potential of our great urban core!

Anonymous
7 months ago

First and foremost our Governor was very much on top of not putting unnecessary mandates and you can see why California, Oregon and Washington states are still struggling is due to stupidity of Politicians . Moreover people have to make their living so if they don’t work then there is livelihood issues . Elect Pro Business leaders and things would change . Miami is ofcourse most liked destination in USA and even Europeans love it . Miami is booming

Melo is sigma and chad
7 months ago

Yet there aren’t any new hotels being proposed lately. Wonder if they think a chuck of the market will be taken by airbnbs in condos that allow short term rentals.

Anonymous
7 months ago

Hotel rooms are being added to many new projects rather than stand alone buildings. Good to see another example of the results of the reasoned political response to the pandemic BTW.

Anonymous
7 months ago

Have you been reading TNM the past year? Tons of new Hotel rooms are coming within the next 5 years. A lot of zoning allows for mixed use development.

Anonymous
7 months ago

It doesn’t surprise me, considering hotels in certain other states and cities are still closed, or housing illegals trafficked by “humanitarian” NGOs.

calivalle
7 months ago

F….A
YYYY

Azarius
7 months ago

Rents up Homelessness Up and profits for hotels up

Anonymous
7 months ago

You’re a moron, did you not read the article several months ago about how homelessness is at an all time low in Miami? Stop spreading false news cause you disagree with the political environment that has helped facilitate Florida’s rise.

Anonymous
7 months ago

Did you not read the article about how homelessness was at an all time low in Miami several months ago? Stop spreading false news because you don’t agree with the political environment that has helped Florida rise to prominence. But I guess the success the state has had doesn’t matter cause it wasn’t Bernie sanders in charge.

Anonymous
7 months ago

I agree with you. The ultra left progressives don’t like capitalism.

Anonymous
7 months ago

Well I guess a lot of people in Hialeah who saw their rent go up some 65% don’t like capitalism either?

Anonymous
7 months ago

I don’t see them whining and demanding rent control, like NYC and San Francisco have, while economists from both sides of the aisle agree it does more hard than good, hence their own housing issues.

Anonymous
7 months ago

“I don’t see them whining and demanding rent control”

Then why did you see people from Hialeah holding signs and protesting downtown about rising rents if they don’t want some kind of government entity to step in and control it for them?

Anonymous
7 months ago

The landlords in Hialeah were thrilled that the value of their property and of that their income has increased.

Anonymous
7 months ago

The ultra left progressives were loving those aged rappers sell out to the Capitalist National Football League.

It was almost comical to learn that Eminem “took a knee” during rehearsal to make sure it looked authentic for the big show!

Anonymous
7 months ago

Maybe we should ban profits in Miami just like Cuba, cause its worked out so well for them! Miami can look like the next Havana…. 😂🤣😂🤣

Anonymous
7 months ago

Haha.. anytime the repugnants perceive something as “fucked up” in this country they’re quick to say “it’s Biden” or “the democrats” fault. But if it’s good news, they’re quick to hijack it and claim it all happened because of them.

Anonymous
7 months ago

Keep dreaming. Florida is booming, Texas is booming, Utah is booming, South Carolina is booming, and Tennessee is booming and they are all run by politicians who believe in law and order, free enterprise, and non socialist behavior. IN the meantime California, NY, Illinois, Pennsylvania, Oregon, and some many other democrap run states can’t get out of their own way. Their residents are fleeing likes rats on a sinking ship and the only ones left will be government workers and welfare recipients. Maybe BLM can bail them out with all their BS money they have stolen.

Anonymous
7 months ago

I’m sure you can take in the homeless in your home