According to June’s data from the data and analytics firm STR, room-nights at Miami-Dade hotels rose 6.7 percent compared to June, 2016. The data indicates it’s the highest increase in the county since March this year.
Hotel revenue also increased 5.6 percent over June 2016 while nearly 73 percent of hotel rooms were full in Miami-Dade in June.
The average nightly rate in hotels in Miami-Dade declined slightly by 1 percent for an average rate of $146.87.
Positive sign for hotel industry
According to the Miami Herald, the increase in performance is a positive sign that hotel’s performance is improving after the challenges of last year brought about by the Sika virus outbreak. Last year’s performance was also affected by an increase in new hotel rooms and the growth of the short-term rental industry.
The report also cited an increase in demand for hotel rooms is positive during a time of the year dominated by international travel. Other challenges being overcome are the struggling Latin America economy and America’s political climate which earlier in the was not conducive to some foreign visitors.
Fear of difficult 2016 trend
Leaders in South Florida’s hotel industry were concerned the difficult trend of 2016 would carry over to 2017. Hotel revenue was on a six-month downward streak that ended in April, while room nights sold started to pick up again in February after four months in the red.
Broward County hotels
According to STR, in Broward County, room nights sold increased by 3.2 percent, the largest rise since September 2016. Hotels in that county made 4 percent more in revenue this June over last year. The hotels, in June, had an occupancy rate of some 74 percent.
Unlike the situation in Miami-Dade, the nightly rates of hotels in Miami-Dade increased. Rates rose 0.8 percent, with an average nightly rate of $112 .78.
