Miami Top In The Nation For Hotel Room Rate Growth In 2018

Hotel room rates in Miami grew faster than any other major city in the country from January through November 2018, according to new statistics by research firm STR and cited by the Greater Miami Convention and Visitors Bureau in Miami Today.

Through the first eleven months of 2018, room rates in Miami were $193.97, up 6 percent from the year before. No other major city in the U.S. matched those gains.

Revenue per available room was up 6.8 percent during the same period, ranking second fastest for growth in the U.S.

Miami ranked fifth nationally  for room rate and revenue per available room during the 11 month period.

 

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Anonymous

When you scroll down the building in the photo makes waves hehehe

Anonymous

Can we get a pure skyscraper hotel like they have in other large cities? Like 600 feet of just hotel rooms

Anonymous

Why don’t YOU build it so WE can have it.

Anonymous

With no balconies please…..

Anonymous

WhoTF wants a high end hotel room in South Florida with no balcony?

Anonymous

Dedicated hotel towers aren’t really built anymore. It’s all about mixed use, whether including an office or residential component.

Anonymous

What hotel is pictured? Amazing.

Mcapo

The Conrad/Brickell Arch

Anonymous

Espírito Santo Plaza was the original name, hence the shape of the building. It was built by the Espirito Santo Family from Portugal. The equivalent to the Rockefeller’s in the USA. Unfortunately some people did bad things and it was a domino effect a few years ago. Very nice family and well respected. There legacy stands. In any event, it was the first building of KPF, a world class architect, in Miami. The family did the building with the shape of the Espirito Santo (Holly Spirit). Today is called Brickell Arch.

Anonymous

Great!!! Now invest the tax revenue in a modern mass transportation system

Anonymous

impressive!!

Anonymous

You could at least use a recent picture of a new hotel. This is an office bldg and Conrad hotel built years ago on Brickell Ave.

Anonymous

and smallest rooms.

Anonymous

Clearly you have never stayed in New York City.

Anonymous

Don’t expect it to last… this was largely the result of vast swaths of the Caribbean hotel inventory being closed.

Azarius

The rates are ridiculous for the size of the rooms thats why I rather stay in a Airbnb

Anonymous

Clearly enough people dont find them “ridiculous” or the RevPar would not keep going up.

Anonymous

Unfortunately most people are willing to spend $2000 a month on rent for a 1/1. I love Miami but if it keeps over pricing the values we are in for an other real-estate crash. Been here for decades, I know what I am talking about.

Anonymous

“Being here for decades” does hone your understanding of economics.
Speaking only for myself….my 2 plus decades in Miami has made me dumber.

If enough people are paying $2k for a 1/1 it isnt “overpricing”.