South Florida hotels recovering from 2016 slump

Published on : Friday, July 21, 2017

South FloridaThe hotels of South Florida finally seem to be recovering from the slump of last year. As per the hotel figures released on Thursday by STR, a reputed data and analytics firm, the room nights sold at the hotels of Miami-Dade were up by 6.7% over the same period last year. That is the highest year-on-year rise ever since March.

 

The revenue of the hotels rose by 5.6% over June 2016 since the hotel occupancy increased by nearly 2.1%.

 

As much as 73% of the hotel rooms were full in Miami-Dade in June. The average nightly rate was the only statistics that was down by 1% for an average rate of $146.87.

 

The overall bump in hotel sector’s performance is yet another indication of the fact that hotels are gradually recovering after a complicated 2016 that was impacted adversely by the Zika virus, an increase in new hotel rooms, construction at the Miami Beach Convention Center as well as the growth of the short-term rental sector.

 

The rise in demand is a good sign during the time of the year that is actually influenced significantly by international travel and has been confronting with a challenge posed by a struggling Latin American economy and a complex political scenario that had been responsible for repelling certain foreign visitors.

 

Scott Berman who is a hotel expert and a Miami-based industry leader for leisure and hospitality said that the demand for hotels is getting stronger at a time when most of the market have been under pressure.

 

Industry leaders have asserted that hotels this year have been coming out of the closet in terms of their revenue in 2016.

 

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