South Florida’s Hotel Occupancy Rates
According to data from Smith Travel Research, South Florida hotels got a boost in occupancy over the holiday season. For the week that ended on January 2, occupancy rose in all three counties compared to last year. Occupancy in Miami-Dade went from 774% to 87.9%, in Palm Beach County from 63.3% to 68%, and in Broward from 77.1% to 81.9%.
Occupancy across the U.S. went from 42.9% to 45.5%, but average daily rates fell in each county.
Rates in Broward fared the worst, falling from $137.49 to $126.82, a 7.8% decline. Rates in Miami-Dade fell 3.4%, from $225.50 to $217.90. Palm Beach County rates fell 3%, from $201.50 to $195.46.
Rates across the U.S. fell 4%, from $103.97 to $99.79.
Via: Biz Journals
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