BLOCK 55 Brochure

GREATER DOWNTOWN HOTEL SUPPLY

SUPPLY

The Greater Miami area (Miami-Dade County) is one of the top hotel markets in the United States by performance and metrics. Greater Downtown Miami saw a 20 percent increase over a five-year period. As travel to Miami increases, so does the demand for hotels. On an annual basis, supply has grown at a steady 4 percent average an- nual growth rate. Since 2014, Greater Downtown has added seven hotels with more than 1,300 rooms. From 2010 through 2018, nine hotels with 1,798 rooms were delivered. As of December 2018, Greater Downtown’s hotel inventory stands at 37 hotels with a total of 8,121 rooms and 386,325 square feet of meeting space.

Greater Downtown has increased it hotel room supply by 27 per- cent over the past five years, and has not seen a decrease in occu- pancy which indicates the development seen is actually meeting demand rather than oversupplying the market.

HOTEL SUPPLY