Miami hotel room rates up 56% since 2019

The Setai Miami Beach at 2001 Collins Ave, Miami Beach (Google Maps) via
The Setai Miami Beach at 2001 Collins Ave, Miami Beach (Google Maps) via

Area has seen the biggest three-year surge among top summer destinations

Hotel room rates have surged in Miami during the past three years, more so than in several other tourist destinations nationwide.

The average daily hotel room rate in Miami for the first five months of the year reached $369.51, according to an analysis from Bloomberg. That represents a 55.6 percent increase from the same period in 2019 when the average was $237.41.

Bloomberg commissioned data scientists at Google to look at the rates at four-star and five-star hotels across seven popular summer luxury markets. Bloomberg also looked at mid-July rates for popular hotels in each of those markets, though those are known to fluctuate at a moment’s notice.

Of the seven markets analyzed, Miami had the largest surge in average room rates in the last three years. The Hamptons came in second, where rates have increased by 51 percent. Nantucket, Massachusetts ranked third in the analysis with a 45.7 percent rate increase.

By TRD Staff
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