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Front Page » Breaking News » 3,400 Miami hotel projects with 5,900 rooms ready to rise in 2018

3,400 Miami hotel projects with 5,900 rooms ready to rise in 2018

  • www.miamitodayepaper.com
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Written by on December 26, 2017

More hotels seem destined to rise in Miami and room supply growth isn’t slowing, according to STR, a data and analytics specialist, in a report giving Miami’s hotel industry a “healthy performance” rating. Despite the growth, it’s still a decline from prior years, but an expert said this isn’t serious cause for concern.

The national average growth in supply of hotel rooms is 2%. Miami’s supply growth is roughly double that, a projected 3.9% for 2018. But the measure by STR of the average rate paid for rooms sold – calculated by dividing room revenue by rooms sold – is down 2.2%, a similar number to last year’s. In 2015, the average daily rate rose 5.7%…To read the full story click here

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