March Hotel Occupancy Increases (again) in MiamiApril 30, 2018
Hotel occupancy in Miami-Dade rose to 87.9 percent in March from 85.7 percent in the same month last year, and the average daily room rate in March was $268.22, up from $232.86 last year. Miami Real Estate investors continue to buy up condo hotels as the smart investment for 2018
The average daily room rate also jumped in Broward County to $204.44 in March from $180.31 in the same month last year. But the county’s hotel occupancy rate dropped to 86.9 percent from 87.7 percent in March 2017.
Stacy Ritter, president of thee Greater Fort Lauderdale Convention & Visitors Bureau, said hotel occupancy in Broward dropped from the levels of last year because the number of available rooms in the county increased in the last 12 months by 795 to 31,044.