Written by Miami Today on February 28, 2013
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ROOM RATES TOPS: Miami-Dade had the highest average daily hotel room rate in the nation in January among the top 25 markets, according to Smith Travel Research. The $211.11 rate was up 12.2% from the prior January. Revenue per available room rose even faster, growing 17.5% in a year to $174.26, second in the nation after Oahu Island, the research firm reported. The Miami market had the second highest hotel room occupancy rate, 82.5%, which was up 4.7% from January 2012.
DOZEN FOR FAR EAST: The first Far East mission of the Greater Miami Chamber of Commerce had signed up about a dozen participants by Monday morning, CEO Barry Johnson said, standard this early for a chamber business development mission but a "pretty significant" number considering the distance. Singapore and Hong Kong are on the April 4 to 13, itinerary, with participants expected to expend about $2,500 to $3,000 each. Details: Liane Ventura, (305) 577-5477.
AVIATION ADVICE INC.: Miami-Dade commissioners are to vote March 5 on the county Aviation Department’s plan to create a corporation to market its consulting services to airports around the world. The county plans to set up a not-for-profit corporation to oversee the efforts and collect the profits to help retire the department’s $6.3 billion long-term debt load. The department expects to clear $1.5 million a year by the consulting operation’s fifth year. Miami International Airport long has provided executives’ advice to other airports without charge but has been seeking new revenue streams as debt from the $6.3 billion airport makeover comes due.
NUTS AND BOLTS ON 25TH: The portion of East 25th Street between East Eighth and East Ninth avenues in Hialeah would be designated with markers as "Hialeah Hardware Way" by the Florida Transportation Department under legislation pre-filed for next month’s legislative session by state Sen. Rene Garcia.
RYDER NOTES: Fitch Ratings last week said it expects to rate Ryder System Inc.’s six-year, $250 million senior unsecured notes A-, saying it does not believe issuance will materially impact 80-year-old Ryder’s leverage. Proceeds, Fitch said, are expected to refinance debt maturities, repay commercial paper outstanding and for general purposes.
FACEBOOK ABROAD: Miami-based JeffreyGroup said last week it is to manage Facebook communications in Mexico and Argentina.