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: