While hotel occupancy fell sharply in most major subway areas during the pandemic, the Greater Miami market has proven particularly resilient this winter, as both beach resorts and short-term vacation rentals are in high demand.
“We find people come here, not just from elsewhere in Florida or the Southeast, but believe it or not, from the Midwest and California because they are staying for extended periods,” said Wendy Kallergis, president and president CEO for Greater Miami and the Beaches Hotel Association. “They open a business here and work in their hotel rooms or suites.”
According to STR data, Miami’s occupancy rate has been well above the US average in recent months. While the total U.S. occupancy was around 40% and below in November, December, and January, Miami – although it was once the epicenter for Covid-19 cases in Florida – has seen a steady spike in occupancy over the same period, reaching over 54 % until January.
Hotels near Miami near the ocean did even better, according to Kallergis, with most beach resorts having 80% to 90% occupancy on weekends.
“It is the beach hotels in particular that do really well,” added Kallergis. “But I think some downtown hotels are doing pretty well too.”
The lawn at Acqualina Resort & Residences is located directly on the ocean on Sunny Isles Beach.
The Acqualina Resort & ResidencesThe Sunny Isles Beach, just north of Miami Beach, stretches over 10 acres by the ocean and is one of those hotels that has seen a boom in winter bookings.
“In recent months, especially on weekends and public holidays, the surge in demand has been so great that we have not been able to meet all requests,” said Mauro Pinho, Sales and Marketing Director at Acqualina Resort & Residences.
Pinho attributed the property’s relative strength to a mix of demand for overnight stays as well as an increase in guests from states like New York and New Jersey.
Like Acqualina that Carillon Miami Wellness Resort has also benefited from a wave of visitors from the northeast, with around 20% of the property’s guests from New York.
“The holidays in particular were tough for us,” said Brittani Miranda, director of revenue management at the resort. “We are fortunate that Miami has fine weather and is a convenient destination for many travelers to get to safely, which has most likely helped the hospitality industry in Miami in general during that time.”
Although hotels in the Miami area appear to be well on their way to recovery, occupancy has recovered even faster in the market’s short-term rentals.
In December, STR reported that Miami’s short-term rental sector had its best overall performance since the pandemic began. The occupancy rate in the segment was over 83% for the third month in a row.
The beachfront balcony at a Miami property managed by TurnKey Vacation Rentals.
“South Florida has always been the high season for winter,” said Christina Candler, regional sales director at TurnKey Vacation Rentals, which markets vacation homes in the US and manages the Carolinas, Alabama, or Georgia, but we still see the New York folks too, Connecticut, New Jersey, and Massachusetts, which we usually see every year. Part of this may have to do with the limitations that still exist in these areas. “
According to Candler, demand for short-term rentals in South Florida and Miami is expected to remain strong through spring. Summer bookings for 2021 are starting to surpass the level of summer bookings in previous years.
And with international destinations likely to stay off the table for many travelers for the time being, part of Miami’s appeal is fueled by its reputation as a cosmopolitan hot spot, Candler added.
“I used to live in Miami, and we’ve always said the closest foreign destination to the US is Miami,” she said. “So if you can’t make it to the Caribbean or Latin America, Miami is your next best bet.”
