Despite Recession, Miami Hotels Still Among Most Expensive

Renowned for its high-end shopping, world-famous beaches, year-round warm climate, and celebrity appeal, Miami is inarguably one of the most sought-after travel destination spots in the world. By the same token, it also has some of the most expensive hotel room rates in the nation, though prices have dropped 21 percent this year from an average of $176 to $140, compared to the same time last year.

However, maintaining the sixth highest average in America behind New York and D.C. hasn’t hurt business much. According to Smith Travel Research, hotel occupancy in Miami is on the rise, closing out at 52.1 percent the first week of September, up 1.4 percent from the same time last year. The eighth most popular domestic vacation spot among Americans and the fourth most visited American city among Europeans, Miami tourism shows no signs of slowing down.

“The growth is partly due to an increase in foreign travelers coming to Miami to take advantage of the weak dollar”, said Jean Francois Mourier, founder and president of RevPAR Guru, a Miami-Beach-based hotel-consulting firm. “The summer has been much better because we’re getting a lot of European visitors.”

From the low-budget to the luxury, Miami has a schmorgasboard of unique accommodations and amenities to choose from. For example, how many hotels do you know of that will dump 1,000 gallons of Evian water into a 350-gallon infinity tub to “revitalize the skin and purify the senses?” The Evian Experience, available at Miami’s Hotel Victor, also includes champagne, foie gras, a platter of chocolates and an eccentric dish of smoked salmon lollipops. With a $5,000 price tag on top of the $6,000 penthouse suite rate, the “World’s Most Expensive Bath” is just that, though it does offer a wonderful reprieve from the bustling South Beach crowds.

The bottom line is while rates may be high, one thing is for certain: Miami is at the epicenter of luxury and style and you will get your money’s worth, even if it does cost you a pretty penny.

Via: Miami New Times, BizJournals, HotelChatter