Miami hotels top the nation in room rates
Written by Miami Today on April 24, 2018
Miami-Dade hotels increased revenue per available room 18.2% in March from March 2017, achieving the nation’s highest average daily revenue per room at $235.70, according to national rating firm STR. Miami’s average in March 2017 was $199.46.
At the same time, Miami hotels had the highest average daily room rate in March at $268.22, up 15.2% from $232.68 in March 2017. Miami hotels were second in the nation in occupancy for the month at 87.9%.
The Miami marketplace saw 1,504,279 room nights sold in the month, up 2.4% from March 2017 though slightly fewer rooms were in the marketplace, 55,221 versus 55,331 a year earlier.