MIAMI—Miami-Dade, Broward and Palm Beach hotels are all celebrating record-breaking years in ADR, occupancy and RevPar. That strong demand growth in the hotel market has spurred more development, according to Kathy Conrow, managing director of HVS.

“Miami-Dade has a large infusion of rooms currently under construction,” Conrow tells GlobeSt.com. “More than 50% of the 2,791 rooms in construction belong to the Upscale quality tier which includes brands such as the Marriott Courtyard, Hilton Garden Inn, and Hyatt Place, all of which offer a different price point for visitors looking for something other than a luxury hotel experience.”

Not to be left out, Broward County's consistent strengthening in demand since 2013 has resulted in a noticeable decrease in year round seasonality. Conrow says both new hotel supply currently under construction and in final planning stages represent 8.8% of the existing inventory, with the majority of this supply increase in the Upscale and Upper Midscale quality tiers.  She expects supply increases to be absorbed fairly quickly.

Meanwhile, Palm Beach is doing more than holdings its own. The county is reflecting notable growth numbers.   

“Palm Beach has embraced a consistent annual growth in occupancy since the recession—with the Airport/Downtown area benefiting from occupancy rates of 83%,” Conrow says. “That's the highest of all the Palm Beach submarkets.”

As she sees it, what's most interesting about this county is the incoming room inventory. Rooms under construction denote a 4.4% increase to supply, which is spread among Upper Upscale, Upscale and Upper Midscale segments. Yet, she says, more than half of this increase relates to the development of the Hilton hotel at the Palm Beach County Convention Center.

“South Florida is an international gateway market long known as a center for business, tourism, and culture, all of which are correlated with lodging demand,” Conrow says. “Growth in these sectors has created new opportunities for hotel developers, investors and hospitality corporations in this unique and hot hotel market.”

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