Demand shrinks for Miami-Dade hotels, report says

Demand shrinks for Miami-Dade hotels, report says

Miami, Miami Beach, Miami-Dade 2 Comments 227

South Florida’s condo market may not be the only real estate sector that’s cooling down.

Bloomberg reports that Miami-Dade County’s hotel market is not as hot as it used to be, either. Too many hotel rooms are pulling down occupancy, nightly room rates and other key market indicators.

A mild winter attracted fewer snowbirds, and instability in Brazil has had an impact on the destination. JLL, once bullish on the area, is “taking a breath.” Marriott said on an earnings call that Miami is among its weakest markets in the U.S.

Sources said the slowdown is just a “blip” and that developers are still hot on the area, while others say the sector is facing readjustment.

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2 Comments

  1. Jorja July 20, 2016 at 10:15 PM

    Save Florida Wild Life!

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