LTC 128-2016 Miami International Boat Show, Yacht Miami Beach, and Presidents Day Weekend Occupancy Report MIMS
1915 • 2015
MIA, 6 BEACH
OFFICE OF THE CITY MANAGER
NO. LTC# 128-2416 LETTER TO COMMISSION
TO: Mayor Philip Levine and Members of e City Co r ission
FROM: Jimmy L. Morales, City Manager ,
DATE: March 18, 2016 1
SUBJECT MIAMI INTERNATIONAL BOAT SH W, YACHT MIAMI BEACH, AND PRESIDENTS
DAY WEEKEND OCCUPANCY REPORT.
This Letter to Commission (LTC) is being issued to provide you with the attached hotel
occupancy and average daily rate (ADR) report for the Miami International Boat Show, Yacht
Miami Beach and Presidents Day Weekend. Concerns were initially expressed by some hotels
that the loss of the Miami International Boat Show to Key Biscayne would significantly impact
hotel occupancy in Miami Beach.
As you are aware, the hotel room inventory on Miami Beach has grown in the past year 9.4%
when comparing December 2015 to 2014 (the last full month data we have). Although the
attached report shows occupancy was down -2.0%, with the increase of 9.4% in inventory the
city hoteliers sold +7.5% more rooms than last year. It is important to note that more hotel rooms
were sold that weekend even though occupancy was slightly lower. However, the increase in
hotel room inventory did impact the hotel room rate, which was down -12.4%.
Please feel free to contact me with any questions.
JLM/KGB// A
L `.
C: Management Team
PRESIDENTS WEEKEND REVIEW- MIAMI BEACH
2016
FRIDAY SATURDAY SUNDAY AVERAGE
OCCUPANCY 91.8% 95.0% 88.5% 91.8%
% CHANGE -2.9% -2.4% -0.6% -2.0%
ADR $427.34 $446.50 $390.12 $421.32
% CHANGE -11.7% -11.5% -14.1% -12.4%
PRESIDENTS WEEKEND REVIEW- MIAMI-DADE
2016
FRIDAY SATURDAY SUNDAY AVERAGE
OCCUPANCY 92.7% 95.2% 85.8% 91.2%
% CHANGE -2.6% -2.5% -4.9% -3.3%
ADR $320.23 $326.92 $290.49 $312.55
% CHANGE -4.2% -5.4% -5.5% -5.0%
SOURCE: Smith Travel