Boom at the Beach: Hotel Construction and Renovations Continue to Explode in Miami Beach
Major hotel brands are aggressively putting their stamp on the city signaling high demand for the brand
MIAMI BEACH, Fla.--(BUSINESS WIRE)--They’re coming from all over the world: Hotel brands enthusiastically moving to Miami Beach, putting their stamp on the city with big projects designed to take advantage of soaring visitor numbers and expanded infrastructure that includes new restaurants, retailers, and all-around amenities that are drawing both tourists and new residents. This year, hotel openings on Miami Beach will be epic: Marriott Hotels is lending its name to the super-luxury Marriott Edition hotel which will open in Fall 2014; the Cadillac Miami Beach/Oceanfront recently completed a major $25 million renovation transforming it into a premier oceanfront hotel; and Starwood Hotels & Resorts Worldwide announced a new Aloft hotel will open in Miami Beach early next year.
“The vast number of hotel brands who are building here proves that this city is truly a global metropolitan hub. We are growing by leaps and bounds with much more development anticipated in the future.”
“It is unprecedented that such a core category of business players are deciding that Miami Beach will be either their first hotel property in the United States or the destination they want to add to their portfolio,” says Steve Adkins, Chair, the Miami Beach Visitor and Convention Authority (MBVCA). “Miami Beach has developed into a major metropolis that is providing return on investment for U.S.-based and global hotel brands.”
By the end of 2014, a multitude of new hotels will enter Miami Beach to accommodate the increased number of visitors, including the Continental South Beach which will reopen as the Nautilus South Beach; Singapore’s COMO Group which opened Metropolitan by COMO on Collins Avenue and Thompson Miami Beach, set to open later this year; the Redbury Hotel South Beach, Faena Hotel Miami Beach and Hotel & Homes South Beach. SunTrust Bank has also recently granted a $10.83 million mortgage to renovate two Miami Beach properties into hotels.
Further fueling the boom, Miami Beach is planning a $500 million renovation of its Convention Center slated to begin in 2016, with city officials expressing a desire for a nearby hotel to make the event space more attractive for out-of-town groups.
Local hoteliers report demand is heating up for summer as more travelers look to hit the road because of the improved economy. Fourth of July weekend is a big focus for hoteliers during the summer. This year, the holiday falls on a Friday and as a coastal community Miami Beach expects to be in high demand.
From bars to hotels, shops to tourist attractions the World Cup has been a boon to Miami Beach and South Florida. Miami International Airport, with service to 10 of the 12 World Cup cities, expects a 30 percent increase in travel to Brazil by the end of July. And tourism boosters have mobilized to promote Miami as a soccer destination in its own right, marketing “Miami Soccer Summer” with hotel packages, watch parties and events such as the Guinness International Champions Cup final later in the summer.
“Within the last decade, Miami Beach has become a city like no other, an unparalleled mixture of beach and business, fun and favored investment and convention destination,” adds Grisette Marcos-Roque, Executive Director, MBVCA. “The vast number of hotel brands who are building here proves that this city is truly a global metropolitan hub. We are growing by leaps and bounds with much more development anticipated in the future.”
About Miami Beach
With an average year-round temperature of 75 degrees, Miami Beach has an unrivaled reputation for culinary offerings, nightlife, culture, fashion, and luxurious hotels. Also a popular destination among travelers, Miami Beach was recently ranked by Trip Advisor as number one on its Top Winter Sun Vacation Rental Getaway Destinations for 2011 list and was included on both the Top 25 Beaches in the World and Top 25 Destinations in the U.S. lists. Boasting seven miles of breathtaking beaches, Miami Beach is easily accessible from the Port of Miami and Miami International Airport. The City of Miami Beach has just been named one of the top cities worldwide for 'walkability' and is equally easy to navigate by bike or by boat. Home to unique museums, to the New World Symphony and Miami City Ballet, to over 17,000 luxury, boutique and resort hotel rooms, 12 public parks and to the Miami Beach Convention Center, Miami Beach is a destination for all seasons. Miami Beach is like no other place in the world! Visit MiamiBeachGuest.com or MiamiBeachINCARD.com for more information or contact Grisette Marcos at Groquemarcos@miamibeachvca.com.