Business

South Florida Hotel Occupancy Grew in 2014

A recent Miami Herald article reported South Florida hotel occupancy grew again in 2014, as did room rates – a positive sign for the area’s hospitality industry.

Data from the travel research firm STR showed hotels across the region profited from year-over year growth, with Miami-Dade County occupancy rates up approximately one percentage point to more than 78 percent. Average daily rates increased nearly six percent, to $185.12. December’s occupancy remained strong, even as room rates rose more than nine percent to almost $231 a night.

Among the county’s leading resort properties were Fontainebleau Miami Beach and Turnberry Isle Miami, two South Florida destinations owned and operated by Turnberry Associates.

Turnberry Chairman and CEO Jeffrey Soffer http://www.turnberry.com/about-turnberry/ownership/jeffrey-soffer has added popular, new features to each resort while enhancing existing amenities to ensure both are re-energized, exciting luxury destinations that retain their legendary status. As occupancy and room rates continue to grow, Soffer’s forward thinking vision likely will continue to pay big dividends for Turnberry’s resort properties.

Keeping pace with the regional growth, greater Fort Lauderdale hotel occupancy jumped more than four percentage points last year, with room rates up more than six percent, to $127 a night. In the Florida Keys, occupancy for the year was up nearly two percent to 79.5 percent, while room charges grew to more than $255 per night, a nine percent increase.

On the heels of a record year for tourism, South Florida’s hospitality industry expects yet another strong year http://www.miamiherald.com/news/business/biz-monday/article5414133.html in 2015.