MIAMI—Miami is witnessing record levels of international tourism, driving hotel operators from around the world to break ground on new developments—or acquire existing assets. Case in point: construction is starting on a new Hyatt Place hotel near Miami International Airport.

Located at 3549 LeJeune Road near the intersection of State Road 112, the 135-room hotel, becomes the first Hyatt Place to be developed in Miami from the ground up. Hyatt Place Miami Airport is expected to open in the fourth quarter of 2014.

While much of Miami's new hotel development has been fueled by in-bound investment on the part of some of the largest hospitality developers around the world, the new Hyatt Place is the brainchild of locally-based MIA LeJeune, LLC. It's a joint venture led by one of Miami's most active private real estate investment firms, Mayan Properties.

The Coconut Grove-based firm has teamed up with Concord Hospitality, one of the nation's leading hotel owners, operators, and developers, and Travelers Hotel Group to finance and build the $21 million project. Aztec Group, a Mayan affiliate, recently secured a $15 million construction loan and raised additional equity for the project. Concord will manage the property once open.

“We have been bullish on the Miami International Airport market for the past 20 years and the timing was just right to develop this project,” says Mayan principal Boaz Ashbel. “Hyatt Place has carved a niche in the select service category nationally, yet Miami-Dade is lacking a Hyatt Place property that was built from scratch. Our new hotel's location, amenities, and mid-range price point will appeal to business and leisure travelers looking for a comfortable, convenient and stylish place to stay within close proximity of MIA.”

Construction of the new Hyatt Place comes as Miami cements its ranking among the nation's strongest markets, with 13.4 million hotel room nights sold in 2012, a 2.5% increase over the previous year, according to the Greater Miami Convention and Visitors Bureau. Growing activity at Miami International Airport, which saw passenger arrivals rise from approximately 18.4 million in 2012 to 19.4 million in 2013, has triggered most of this growth.

The airport recently expanded service to Canada with the addition of WestJet service to Calgary, Canada. Earlier this year, Brussels Belgium became the 14th European city with non-stop service to Miami and Qatar Airways, serving the Middle East, will begin four weekly non-stops to Doha, Qatar in 2014.

“The Miami International Airport submarket is experiencing average occupancy rates in excess of 80%, which is strong by any measure,” says development team member Steven Marin, principal with Travelers. “The development of a new Hyatt Place will raise the quality standards for the airport market and introduce a new top-tier brand that will raise the average daily rates.”

Leading the management of the Hyatt Place Hotel is Concord, which manages over 90 hotels and 13,000 guest rooms and suites in the US and Canada. “The secret to developing in well-established markets like Miami is identifying the unmet need and finding the right brand to address it," says Mark Laport, president of Concord.  "Hyatt Place, with its integrated high-tech touches, is exactly the right brand for any airport submarket, but especially for Miami, with its high volume of international travelers and cruise passengers.”

The new Miami hotel joins a network of more than 180 Hyatt Place hotels around the world. Inspired by multitasking travelers' 24/7 lifestyle, Hyatt Place combines practical amenities with forward-thinking technology. The hotel's guestrooms will feature Hyatt Grand beds, multiple areas to work and relax, and a state-of-the-art media centers equipped with 42-inch high definition TVs. A pool deck and outdoor terrace will be available for events and meetings.

RCI, Inc. is serving as the project's general contractor. PFVS Architecture, in conjunction with local architect Israel Bigelman, and MoniOmi Design, which is creating the hotel's stylish interiors, make up the hotel's design team.

The airport recently expanded service to Canada with the addition of WestJet service to Calgary, Canada. Earlier this year, Brussels Belgium became the 14th European city with non-stop service to Miami and Qatar Airways, serving the Middle East, will begin four weekly non-stops to Doha, Qatar in 2014.

“The Miami International Airport submarket is experiencing average occupancy rates in excess of 80%, which is strong by any measure,” says development team member Steven Marin, principal with Travelers. “The development of a new Hyatt Place will raise the quality standards for the airport market and introduce a new top-tier brand that will raise the average daily rates.”

Leading the management of the Hyatt Place Hotel is Concord, which manages over 90 hotels and 13,000 guest rooms and suites in the US and Canada. “The secret to developing in well-established markets like Miami is identifying the unmet need and finding the right brand to address it," says Mark Laport, president of Concord.  "Hyatt Place, with its integrated high-tech touches, is exactly the right brand for any airport submarket, but especially for Miami, with its high volume of international travelers and cruise passengers.”

The new Miami hotel joins a network of more than 180 Hyatt Place hotels around the world. Inspired by multitasking travelers' 24/7 lifestyle, Hyatt Place combines practical amenities with forward-thinking technology. The hotel's guestrooms will feature Hyatt Grand beds, multiple areas to work and relax, and a state-of-the-art media centers equipped with 42-inch high definition TVs. A pool deck and outdoor terrace will be available for events and meetings.

RCI, Inc. is serving as the project's general contractor. PFVS Architecture, in conjunction with local architect Israel Bigelman, and MoniOmi Design, which is creating the hotel's stylish interiors, make up the hotel's design team.