In one recent month, the hotel occupancy rate in Broward County climbed to 67.2%, a jump of 6.7 percentage points over the like month of last year, while the average daily room rate reached $72.17, up 6.9% from the same 1999 period.
All this activity was in the midst of summer in super-hot South Florida. However, recent figures indicate that the region's tourism season now lasts 11 months of the year, with September the only really slow month and October through Easter the peak period.
Lodging market vitality encouraged Interlink Hospitality Corp. of Dania Beach, FL to start construction of the 233-room Renaissance Fort Lauderdale on the 17th Street Causeway just across from the 150,000-sf Broward County Convention Center. Mark Ellert, Interlink's president, describes his firm's $36 million ($154,506 per room) project to GlobeSt.com as an "infill boutique hotel" that will include 12,000 sf of ballroom and meeting space plus extensive on-site parking when it opens next spring.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
