MIAMI—Another Miami hotel has come online in a white hot market. Hyatt Place Miami Airport-East is the latest Hyatt to open in the Magic City.

Less than one mile from the entrance to Miami International Airport and just over five miles from the Port of Miami, the world's largest cruise terminal, Hyatt Place Miami Airport-East is strategically located for business and vacation travelers. The hotel is also within driving distance of major sport and shopping destinations.

"With the opening of Hyatt Place Miami Airport-East, we are adding an exceptional hotel product to the market in a location that is just a few steps from the entrance to Miami International Airport," says Aztec Group managing director Boaz Ashbel. "This hotel will also have a positive impact on the local economy due to the creation of additional hospitality jobs."

Hyatt Place Miami Airport-East offers 135 rooms, free Wi-Fi, a 24/7 Gallery Menu, free hot breakfast, and coffee and cocktails. An 800-square-foot meeting space is equipped with high-tech bells and whistles. And, of course, there's a 24-hour gym.

"The Hyatt Place brand has carved a niche in the select service upscale hotel segment and has been well received by both domestic and international travelers," said Mark Laport, President of Concord Hospitality Enterprises. The AmericanAirlines Arena, Marlins Park, Downtown Miami; South Beach; Design District; Wynwood; Dolphin Mall,; and Brickell, are all nearby.

Here's the question: Are there too many hotels coming online in South Florida too quickly? Rich Lillis, an executive vice president with Colliers International South Florida who advises clients on hotel and resort investment sales, doesn't think so.

"Miami-Dade County is leading Florida in new hotel development with approximately 6,000 rooms under construction or in final planning," Lillis tells GlobeSt.com. "Fortunately, these new hotels are spread across submarkets such as Downtown Miami, Miami Beach, the airport and Aventura."

Indeed, Lillis believes that for Florida hotels, it's a perfect storm. Click here to read more of his perspectives on Florida's hotel market.

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
NOT FOR REPRINT

© 2024 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.