BLOCK 55 Brochure

REVENUE PER AVAILABLE ROOM

AVERAGE DAILY RATE

Revenue Per Available Room (RevPAR) is a hotel performance met- ric that assesses a hotel’s ability to fill rooms at the average rate. RevPAR is calculated by multiplying ADR and occupancy. As with ADR, RevPAR in the Greater Miami market saw positive gains from 2013 to 2015 and then a drop from 2015 to 2016. Greater Downtown had a higher rate of growth and increase in RevPAR than Miami Beach over the last five years. Greater Down- town’s RevPAR increased by nearly 11 percent with a 2 percent Annual Average Growth Rate. Greater Downtown had the second highest RevPAR last year with $153.42. Greater Downtown’s five- year average RevPAR is also the second highest of the top submar- kets at $148.77.

Average Daily Room Rate (ADR) is a hotel performance metric that assesses revenue earned on average per room for any given day. Over the last five years, ADR has grown in the Greater Miami mar- ket by 13 percent. ADR grew steadily every year from 2013 to 2015 and then dropped the next two years. Greater Downtown’s ADR has always been higher than that of Greater Miami. Even in down years, Greater Downtown’s ADR decreases were less than those of the Greater Miami market. In 2018, Greater Downtown’s ADR fi- nally surpassed $200, reaching $204.42. Greater Downtown’s ADR averaged $194.40 over the last five years, which is $5.18 more than the Greater Miami market’s average for the same time period.

HOTEL SUPPLY