Record Hotel Room Occupancy and Room Rate was reported by Smith Travel Research for Greater Miami and the Beaches for the January – August 2008 time period. For the first eight months of 2008, Miami ranked #4 in Occupancy at 75.1% (up from #7 in 2007), and ranked #3 in Average Daily Room Rate at $167.10 (an increase of 2.5% vs. 2007), according to the latest report issued by Smith Travel Research, which compares and ranks the top 25 hotel markets in the United States based on Occupancy and Average Daily Room Rates (ADR). (See chart, right.)
