Miami Hotel Outlook for 2014
Attracting International Travelers
The economic outlook for the Miami hotel market continues to be positive for 2014. Many expect strong demand and continued growth in the hospitality sector due to increasing numbers of international travelers.
With new flight routes planned at the Miami International Airport and a variety of special events scheduled throughout the year, Miami continues to be an attractive destination for tourists.
New Miami Beach Hotels on the Horizon
In order to meet the demand, there are many anticipated hotel openings in 2014 in Miami Beach, downtown Miami and the Miami airport region. At least seven new hotels are scheduled to open in Miami Beach alone, including brands new to Miami such as the Metropolitan by COMO, Miami Beach, 1 Hotel & Homes South Beach and Faena Saxony Hotel. International buyers continue to flock to Miami Beach to invest in the Mid-Beach Collins Avenue corridor, and lender financing continues to be available to refinance such properties as the Fontainebleau Miami Beach and the Saxony Hotel.
Miami is also seeing record sales with the $175 million sale of the Shore Club Hotel and the Marquis in downtown Miami.
These recent trades and continued availability of financing are strong indicators of how the Miami hotel market will continue to perform in the year to come.
The economic outlook for the Miami hotel market continues to be positive for 2014. Many expect strong demand and continued growth in the hospitality sector due to increasing numbers of international travelers.
With new flight routes planned at the Miami International Airport and a variety of special events scheduled throughout the year, Miami continues to be an attractive destination for tourists.
New Miami Beach Hotels on the Horizon
In order to meet the demand, there are many anticipated hotel openings in 2014 in Miami Beach, downtown Miami and the Miami airport region. At least seven new hotels are scheduled to open in Miami Beach alone, including brands new to Miami such as the Metropolitan by COMO, Miami Beach, 1 Hotel & Homes South Beach and Faena Saxony Hotel. International buyers continue to flock to Miami Beach to invest in the Mid-Beach Collins Avenue corridor, and lender financing continues to be available to refinance such properties as the Fontainebleau Miami Beach and the Saxony Hotel.
Miami is also seeing record sales with the $175 million sale of the Shore Club Hotel and the Marquis in downtown Miami.
These recent trades and continued availability of financing are strong indicators of how the Miami hotel market will continue to perform in the year to come.
Related Practices
YOU MIGHT ALSO LIKE
Suzanne M. Amaducci moderates the Miami Rising: Live-Work-Invest panel hosted by the Miami Downtown Development Authority, which discusses the myriad options for living and working in Miami, and opportunities to invest in the city’s growth as a global urban center.
Suzanne M. Amaducci and keynote speaker Jeff Krasnoff, Chief Executive Officer of Rialto Capital Management, discuss the state of real estate debt markets amid ongoing economic uncertainty at Bilzin Sumberg’s 4th Annual Development Conference.
Felix X. Rodriguez moderates a curated discussion with development industry professionals on current opportunities and challenges in serving South Florida’s real estate market at Bilzin Sumberg’s 4th Annual Development Conference.