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Posted on Friday, 11-5-2010

Miami Hotels News - Occupancy Rates

 

According to a data provider for the lodging industry, occupancy rates grew across South Florida hotels including Miami hotels in September.  Even though September is usually the regional hotel industry’s toughest month, the metrics saw an improvement.

 

Occupancy for hotels in Miami grew to 59.3 percent from 52.9 percent in the prior-year period. In Broward County, occupancy rose to 53.6 percent from 49.5 percent. Occupancy in Palm Beach County rose from 44.3 percent to 46.4 percent.

 

Across the U.S., occupancy grew to 59.9 percent from 56.1 percent.

 

The average daily room rate for Miami hotels increased 3.3 percent, to $109.17 from $105.69. The rate in Broward County rose 1.5 percent, from $82.58 to $83.84. The average in Palm Beach County was up 2.2 percent, from $89.67 to $91.66.

 

Nationwide, the average room rate rose 2 percent, to $99.31 from $97.38.

 

This hotel industry growth has come at the same time the Port of Miami said it broke its own record for cruise passengers. There were 4,145,053 passengers processed by the port in the year ended September 30, up from 4,110,100 for the prior year. This is an increase of 34,953 passengers.

 

The Port of Miami cruise industry and at a lesser extent, the Port Everglades, is a significant driver of hotel business in South Florida.

 






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