Posted on Monday, 9.13.2010
Occupancy Rates - Miami Beach Hotels
According to Smith Travel Research, occupancy and room rates for South Florida hotels including Miami Beach hotels rose across the state last week.
For the week ending September 4th, occupancy for Miami and Miami Beach hotels rose to 57.2 percent from 51.9 percent in the prior-year period. Broward County occupancy rose to 52.3 percent from 46.7 percent and occupancy in Palm Beach County rose to 46 percent from 42.5 percent.
Across the U.S., occupancy rates rose from 53.4 percent to 57.4 percent.
Average daily room rates (ADR) in Miami-Dade rose 2.8 percent from $107.92 to $110.9. Broward rates rose 1.8 percent to $80.99 from $79.59 and average daily room rates in Palm Beach County rose 1 percent to $91.50 from $90.57.
Across the U.S. average daily room rates rose 2.1 percent to $94.37 from $92.46.
This week, the Greater Miami Convention and Visitors Bureau (GMCVB) reported that convention development taxes, “bed taxes” produce from hotel revenue increased 11.8 percent to $3.28 million from $2.93 million in July. Bed taxes are a leading gauge of the hotel industry’s health.