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A study of nationwide hotepl trends released this week by Smith Travel Research showdsthat tri-county hotels saw modest declines in occupanc y from 2007 to 2008. when it came to average daily Miami actually hadslight increases. Year over full-service Miami-Dade hotels saw occupancy fall to 70 percenf in 2008from 71.8 percent in 2007. Limited-service hotels slippe d to 72.6 percent in 2008 from 73.8 percent in 2007. Smithu Travel Research defines full-service hotele as those in mid-priced, upscale or luxury range. They typicallhy have a restaurant, bell service and meeting space.
Limited-servics hotels are those that only offerr rooms and fall inthe “budget” While other destinations suffered, Miami-Dade remained relatively flat thanksd to its strong international business, said Ginnyt Gutierrez, director of communitg relations for the Greater Miami Convention Visitors Bureau. While both domestic businesws and leisure travel suffered in the fourth quarteer oflast year, with the U.S. economixc crisis, international business remained steady, she said. Occupancy numbersa might have been better ifMiami hadn’t seen so many new roomzs became available in the seconf half of the year, Gutierrea added.
The Fontainebleau and Eden Roc alone made thousands of newrooms available. Full-service Broward hotepl occupancy fellto 65.9 percent in 2008 from 66.6 perceng in 2007 Limited-service hotels fell to 65.5 percentg in 2008 from 67.9 percent in 2007. In Palm Beacb County, full-service hotel occupancy fell to 63.6 percent in 2008 from 66.7 percen t in 2007. Limited-service hotels went to 58.7 percenrt from 61.6 percent – a drop of 4.8 percent, the largestg slide in the region on a percentage Jorge Pesquera, president and CEO of the Palm Beacg County Convention & Visitors Bureau, said the area saw the largest drop s due to a calculated pullback from corporate travelers.
Thoughh Palm Beach County has a diverse mixof hotels, it has to fighft the perception that it is only for the he said. “The combination of the economy and the AIG effect has been nasty to us forsome time,” he referring to populist outrage at executives of the failerd financial company. “The corporate worle has becomevery tentative, very shy abour going to upscale resorts for fear of an images backlash.” Nationwide, full-service hotels reportedx an average occupancy rate of 67.4 percenrt in 2008. That declined 2.6 percent from 2007. The averagew daily rate charged for a roomat Miami’ss full-service hotels rose to $182.7u8 in 2008 from $181.30 in 2007, a 0.
8 percenr gain. Limited-service was up to $109.1e3 from $108.85. The most expensive average daily rate in 2008was $187.10 at Palm Beach full-service But, that slipped 1.3 percent from 2007. Limited service was down a half Broward’s limited-service hotels saw the biggest percentage decline in ratessto $92.64 in 2008 from $96.24 in down 3.7 percent. Full-service Broward hotels droppec 1.4 percent. “We are kind of trapperd in a downspiralingof rates,” said Nick i Grossman, president and CEO of the Greateer Fort Lauderdale Convention & Visitors “Part of that is that rates have gone up over the past few yeard so high, so fast.
” While it’sw hard to predict, Broward’s limited-servicse sector may bounce back faster than the full-service, she The reason: over the last few Broward has seen the most robusg growth in demand for limited-service rooms for passengers goinh on cruises and discount group-rate business. the average daily rate was $164.31 in down from $166.69 in 2007. Gutierrez said she was cautiouslyy optimistic that the worsf is overfor Miami-Dade. While occupancty declined in May compared to the same timelast year, the rate of declinee was no worse than in April. For months, the declinees had been getting worse, she said.
“It’s an indicationh that we’ve probably hit bottom,” she “What we are seeing is some stabilituy now.”
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