Miami Hotel Numbers For 2012 – Miami #4 Market In Key Categories

by Bilzin Sumberg

If you have been following us here on the New Miami Blog, you know

(i) the hotel market in Miami is seemingly getting hotter every month and

(ii) Miami is one of the most active hotel investment markets in the country.

The New York Times recently noted that “real estate investors seem to be flocking to Miami Beach, in hopes of capturing part of the market’s resurgent tourism industry by acquiring, or by expanding their investments in, the limited supply of hotel properties.” In The Bilzin Sumberg New Miami Investment Survey, Real Estate Partner Suzanne Amaducci-Adams offered her take on the impact of tourism in Miami and on the hotel market, as well as her view on the hotel investments market:

“The impact of tourism on the South Florida economy is pervasive. When tourism is up, the demand for and price of hotel rooms rises, and with it, the demand for associated amenities, such as restaurants and spas, which drives revenue. Increased and sustained revenue stimulates jobs and investments in hotels. Today, hotels are considered to be among the region’s most sought-after assets as foreign and domestic buyers look for high-performing, quality projects. A recent report shows that since 2000 Miami has been one of the most active hotel investment markets in the country with over $3.4 billion in transaction volume. In 2011 we witnessed the second-strongest year in deal-volume history, with $557 million in sales – a 154% increase – that year alone. As a result, we are seeing more hotels change ownership and new hotels come to the market.”

The following recently released numbers from Smith Travel Research for the year 2012 reflect the increased Miami hotel performance that should attract even more investors in 2013, as the Greater Miami and Miami Beach market is now the #4 market for each of Rev Par, Daily Room Rate and Average Daily Occupancy:



Market $ % Change vs. 2011
1. New York $210.56 +6.1%
2. Oahu Island $155.37 +16.7%
3. San Francisco $137.99 +12.8%
4. Miami $124.92 +7.9%
5. Boston $114.00 +8.3%


Market $ % Change vs. 2011
1. New York $251.59 +2.9%
2. Oahu Island $183.51 +11.2%
3. San Francisco $171.72 +10.8%
4. Miami $163.59 +6.6%
5. Boston $158.68 +7.2%


Market % Occupancy % Change vs. 2011
1. Oahu Island 84.7% +4.9%
2. New York 83.7% +3.1%
3. San Francisco 80.4% +1.7%
4. Miami 76.4% +1.3%
5. Los Angeles 75.4% +5.1%


Stay tuned for upcoming blog posts where we will delve deeper into many of the exciting recent hotel happenings in Miami, including:

(i) the upcoming rebranding of the Perry South Beach to a new luxury eco-friendly brand – “1 Hotel and Residences South Beach

(ii) the openings of two new boutique hotels: Hotel Lorenzo South Beach and Vintro Hotel South Beach

(iii) the Hotel Nash up for sale

(iv) the recent $100M purchase of the Crown Apartments in Miami Beach with plans to become a Roosevelt Hotel modeled after L.A.’s Hollywood Roosevelt and

(v) an affiliate of the Related Group’s plan for a new hotel in the Brickell financial district.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Bilzin Sumberg | Attorney Advertising

Written by:

Bilzin Sumberg

Bilzin Sumberg on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
Privacy Policy (Updated: October 8, 2015):

JD Supra provides users with access to its legal industry publishing services (the "Service") through its website (the "Website") as well as through other sources. Our policies with regard to data collection and use of personal information of users of the Service, regardless of the manner in which users access the Service, and visitors to the Website are set forth in this statement ("Policy"). By using the Service, you signify your acceptance of this Policy.

Information Collection and Use by JD Supra

JD Supra collects users' names, companies, titles, e-mail address and industry. JD Supra also tracks the pages that users visit, logs IP addresses and aggregates non-personally identifiable user data and browser type. This data is gathered using cookies and other technologies.

The information and data collected is used to authenticate users and to send notifications relating to the Service, including email alerts to which users have subscribed; to manage the Service and Website, to improve the Service and to customize the user's experience. This information is also provided to the authors of the content to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

JD Supra does not sell, rent or otherwise provide your details to third parties, other than to the authors of the content on JD Supra.

If you prefer not to enable cookies, you may change your browser settings to disable cookies; however, please note that rejecting cookies while visiting the Website may result in certain parts of the Website not operating correctly or as efficiently as if cookies were allowed.

Email Choice/Opt-out

Users who opt in to receive emails may choose to no longer receive e-mail updates and newsletters by selecting the "opt-out of future email" option in the email they receive from JD Supra or in their JD Supra account management screen.


JD Supra takes reasonable precautions to insure that user information is kept private. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. However, please note that no method of transmitting or storing data is completely secure and we cannot guarantee the security of user information. Unauthorized entry or use, hardware or software failure, and other factors may compromise the security of user information at any time.

If you have reason to believe that your interaction with us is no longer secure, you must immediately notify us of the problem by contacting us at In the unlikely event that we believe that the security of your user information in our possession or control may have been compromised, we may seek to notify you of that development and, if so, will endeavor to do so as promptly as practicable under the circumstances.

Sharing and Disclosure of Information JD Supra Collects

Except as otherwise described in this privacy statement, JD Supra will not disclose personal information to any third party unless we believe that disclosure is necessary to: (1) comply with applicable laws; (2) respond to governmental inquiries or requests; (3) comply with valid legal process; (4) protect the rights, privacy, safety or property of JD Supra, users of the Service, Website visitors or the public; (5) permit us to pursue available remedies or limit the damages that we may sustain; and (6) enforce our Terms & Conditions of Use.

In the event there is a change in the corporate structure of JD Supra such as, but not limited to, merger, consolidation, sale, liquidation or transfer of substantial assets, JD Supra may, in its sole discretion, transfer, sell or assign information collected on and through the Service to one or more affiliated or unaffiliated third parties.

Links to Other Websites

This Website and the Service may contain links to other websites. The operator of such other websites may collect information about you, including through cookies or other technologies. If you are using the Service through the Website and link to another site, you will leave the Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We shall have no responsibility or liability for your visitation to, and the data collection and use practices of, such other sites. This Policy applies solely to the information collected in connection with your use of this Website and does not apply to any practices conducted offline or in connection with any other websites.

Changes in Our Privacy Policy

We reserve the right to change this Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our privacy policy will become effective upon posting of the revised policy on the Website. By continuing to use the Service or Website following such changes, you will be deemed to have agreed to such changes. If you do not agree with the terms of this Policy, as it may be amended from time to time, in whole or part, please do not continue using the Service or the Website.

Contacting JD Supra

If you have any questions about this privacy statement, the practices of this site, your dealings with this Web site, or if you would like to change any of the information you have provided to us, please contact us at:

- hide
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.