With ties to international trade and commerce, increased sophistication, entertainment and culinary excellence, and its renewal as a domestic and international tourist destination, Miami’s hospitality market is outperforming national averages and standing out as one of the top hotel markets in the country.
Miami has a number of things going for it that other cities simply can’t offer: a thriving business sector, diversity of marketplace, proximity to Latin America, and a vibrancy of cultural amenities – all against the backdrop of a breathtaking tropical waterfront. Combined, this is creating a formidable force for investors looking to tap into strong, high-performing assets, and visitors looking for an unforgettable experience.
With Miami’s emergence as an international hub for travel in full swing, the InterContinental Miami is keeping pace with a recently completed $30 million renovation, defined by an infusion of art, technology and entertainment, including digital screens and interactive platforms, designs by Venus Williams, and the first stateside location of Toro Toro by Chef Richard Sandoval.
Given downtown Miami’s emergence as a major international destination for commerce and tourism, now was the perfect time to undertake this investment. The InterContinental Miami has been a fixture of the Miami skyline for decades and has taken steps to keep pace with Miami’s changing brand – from a sand-and-surf only city to one that exudes international style, arts and culture, luxury, and urban sophistication.
Miami’s cache is growing at an unprecedented rate, with Miami International Airport setting a record for passenger traffic in 2012. According to the Greater Miami Convention & Visitors Bureau, the number of international passengers has grown by more than 5% in the past year to 19.4 million.
The Miami market is among the most competitive in the country, particularly as new hotels come into the market and older hotels re-establish their brands. A high tide lifts all ships and the large concentration of four and five star hotels available only enhances our region’s attractiveness as a destination.