1 minute read
2022 Hotel Industry Recap
Greater Miami & Miami Beach offers a diverse hotel product for leisure and business travelers alike. Whether it’s a luxury resort or a quaint boutique hotel, visitors to Greater Miami & Miami Beach will find the right hotel to meet their travel needs As one of the most-telling travel industry metrics, hotel performance for Miami-Dade County is closely monitored by the GMCVB and reported on regularly.
According to STR, the industry leader in hotel data, Miami-Dade County continued to exceed most other Top 25 U.S. Hotel Markets (defined as markets with the most hotel inventory) in 2022. While destinations in Florida led among the most desirable domestic destinations, Miami-Dade County ended the year with an average hotel Occupancy rate of 72.1%, an increase of +8.0% compared to 2021, and ADR of $253.11, an increase of +14.0%. The changes in Occupancy and ADR resulted in RevPAR (revenue per available room) of $182 55, a net increase of +23 1% Airbnb and other home-sharing platforms’ inventory continued to grow and provide alternative lodging options for overnight visitors to Greater Miami & Miami Beach Despite the sustained growth of Airbnb and other home-sharing platforms, Greater Miami & Miami Beach’s hotels continue to be favored by visitors to the area
In 2022, Miami-Dade County ranked among the top 10 in all three major categories (Occupancy, ADR and RevPAR) when compared against the Top 25 U S Hotel Markets by STR While Miami-Dade County sat at the top in terms of hotel performance, the reopening of other destinations resulted in more competition.
Miami-Dade County:
#3 Average Daily Room Rate (ADR)
#3 Revenue Per Available Room (RevPAR)
#5 Occupancy
