South Florida hotels enjoyed a strong October, as growing demand for rooms helped boost nightly rates.
A new Smith Travel report showed the typical room in Broward County generated 9 percent more revenue per night than did it did in October 2011. For Miami-Dade, the gain in revenue-per-room (known as “revpar” in the lodging industry) was 8 percent.
Improvements in two fronts drove the change. First, vacationers and business travelers rented more rooms, with occupancy up slightly in both markets. The average Broward hotel rented 69 percent of its rooms in October, while occupancy hit 75 percent in Miami-Dade hotels.
More importantly, hotels charged more for each room. The average rate in a Broward hotel was $108 a night, up four dollars from October 2011. In Miami-Dade, the average rate jumped $10 to $152 a night.
Monroe County, home to the Florida Keys, also saw gains. Occupancy rose slightly to 66 percent, while the average room rate jumped eight dollars to $185 a night. That caused revpar, which measures occupancy and room rates, to jump 9 percent.
DOUGLAS HANKS
South Florida hotels enjoyed a strong October
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South Florida hotels enjoyed a strong October
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South Florida hotels enjoyed a strong October
