Tourism outlook upbeat after a strong month

With great emphasis to “keep the momentum going,” the Greater Miami Convention & Visitors Bureau celebrated its annual meeting at the Arsht Center with more than 600 guests, including elected officials, industry leaders and media representatives.

Miami-Dade weekly demand for hotels is up 14.2% since 2019, with 283,500 bookings as of Oct. 1. On Sept. 3, demand surpassed 45% change since 2019, according to STR.

“We’ve actually had one of the best Septembers we announced,” said David Whitaker, bureau president and CEO, at the event. “For decades, September was the down period.”

Miami-Dade weekly occupancy was 62.2% as of Oct. 1, up 1.6% since 2019. Average daily rate in the county was $170.38, up 17.4% since 2019.
“We’ve increased our [hotel] room inventory by 10% in the last year, and over 25% in the last three years,” Mr. Whitaker added. “Now, we have to fill them, so we’re encouraged.”

When it comes to occupancy from January to August, Miami-Dade is third in the nation with an average 73.7% occupancy, following Oahu Island at 76.1% and San Diego at 74.3%. Miami-Dade also has the second highest average daily rate at $264.09 so far this year, and the second highest revenue per available room (RevPAR) at $194.66, which measures hotel success in filling all available rooms.

“We’re anticipating a really special fall in terms of advance hotel bookings,” he added. “And for Airbnb occupancy, over $4 million is generated in the resort taxes from our Airbnb collections.”

Additionally, during the week ending Oct. 1, Miami International Airport received 167,426 international passengers, compared to 171,065 in 2019, according to the Miami-Dade Aviation Department.

“Our most important challenges are the opportunities for our organization and our industry to keep the momentum that we’ve got at our back right now,” said Bruce Orosz, CEO at ACT Productions and bureau chairman. “It’s for us to continue to nurture and support and utilizing the traditional sectors that we have always relied upon, as well as the untapped and new potential that they can bring to us.”

With the announcement of the 26th American Black Film Festival, the 10-year contract with Formula One’s Miami Grand Prix, the Football College Playoff series coming to Miami in 2026, the 2023 World Baseball Classic, the FIFA World Cup 2026, which is holding some matches in Miami, and many other world-class events, “we’re just at the beginning of tapping into the tremendous potential that exists,” Mr. Orosz said.

Another high-potential opportunity is to harness the momentum of medical tourism, he added. “Miami is home to the center of excellence… and to many of the most influential and respected doctors and researchers in North America, many who serve on our board.”

The bureau got 173 new members, surpassing a goal of 140 during the 2021-2022 fiscal year, said Mr. Whitaker. The partnership success brought $1,399,000 in achieved revenue to date with 982 current partners. For the 2023 fiscal year the goal is 1,100.

The Professional Convention Management Association, the world’s largest community for business events, conferences, and conventions strategists, held its Foundation Partnership Summit at The Biltmore Hotel Sept. 15 to 18, and now it is helping to bring about 12 new convention leads to Greater Miami, including the Water Environment Federation in November; the American Society for Nutrition in July 2023; American for the Arts annual meeting, potentially for 2024; the American Financial Services Association’s Independents Conference in 2025, and others.

The American Society of Association Executives’ annual meeting in Nashville last month helped bring additional leads, including Society of Human Resource Management’s Inclusion Conference for October 2023; the American Association for Clinical Endocrinology’s annual meeting for May 2024 or 2025; and the American Association for Laboratory Animal Science in October 2027.

To achieve its advertising and programing goals, the bureau was recently approved for a budget of $41.3 million, from which $23.7 million comes from Miami-Dade’s tourist development taxes; $8.9 million from Miami-Dade’s food and beverage taxes; $7.9 million from the City of Miami Beach, $1.4 million from partnerships, and about $950,000 from member programs. The budget plans to utilize funds to cover 62%, about $25.3 million, to sales, marketing and promotion; 24% or $9.8 million for personnel costs; 8% or $3.1 million for general and administrative costs; 3% or $1.2 million for overhead; and the rest for reserves for future host city events, booking incentives and other expenses.

“We have to be engaged with our consumers,” said Mr. Whitaker. “We need to be engaged with our client outreach… with all of our members and partners and thrilled with the success of our growth and partnership.”