May 3, 2015

Heads Up

Room Boom

Martha Brannigan | 4/1/2006
If you're planning a stay in Miami, be sure to check the credit limit on your credit card.

The average daily room rates in Miami-Dade County rose 11.5% to $128.35 in 2005 from $115.10 in 2004, according to Smith Travel Research. Among the nation's top 25 markets, only New York and Oahu, Hawaii, posted bigger gains -- 13.9% and 13.2% respectively -- says the Tennessee-based firm that tracks the lodging industry.

Behind the rising room rates: Miami has seen an assortment of fancy hotels coming online in recent years, including several Ritz-Carltons, the Mandarin Oriental Hotel and the Setai. More high-end digs are on the horizon, including the Shangri La and Canyon Ranch.

Meanwhile, the county's available room supply remains tight: Hotel occupancy in Miami-Dade rose to 72.6% in 2005, from 68.2% in 2004, Smith Research says. The famed Fontainebleau Resort on Miami Beach, for instance, is taking a portion of its rooms out of service for its latest construction project.

Tags: Dining & Travel, Miami-Dade

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Orlando Eye: See Orlando from Above
Orlando Eye: See Orlando from Above

Be effortlessly lifted away in a capsule of calm and serenity to see Orlando in a way you’ve never seen it before. 

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Weekend poll: If you follow sports on TV, what is your favorite?

  • Tennis
  • Golf
  • NFL
  • College sports
  • NBA
  • NHL
  • Baseball
  • Hockey
  • Other (comments welcome)

See Results

Ballot Box
Subscribe