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Following are a few data points that emphasize the strength and vitality of this amazing destination we call home and invite the world to visit. A key barometer the Greater Miami Convention & Visitors Bureau uses is the independent research tool we and their hotel partners invest in – STR (formerly known as Smith Travel Research).
STR produces weekly reports across the country on hotel performance including hotel demand (rooms sold). The report comes out each Wednesday for the previous week. The graph below illustrates seven days ending March 18th. Greater Miami and Miami Beach’s hotel demand is calculated using rooms sold among all the hotels that represent just over 66,000 rooms available county-wide at 88% average occupancy last week times seven days.
In total, the county-wide demand was up over last year’s record-breaking number. The week of March 20th, 410,886 rooms were sold − up an additional 3.5% over the same week last March. Also provided are the “sub-regional” results. The big impact occurs where increases in supply (new hotels) help drive a year-over-year increase. They can also point to sustained success and/or growth across the board. Greater Miami-Dade County and the Beaches were already generating record results at this time last year, so the information is no better vivid example of the breadth and width of our visitor ecosystem and continued popularity and success. “And rising tides float all boats”!
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