CHICAGO - Jan. 5, 2016 - PRLog -- The total supply of hotel rooms in the Miami-Fort Lauderdale MSA region is expected to increase from 86,000 to 92,000 by January of 2017 as 40 hotels are projected to open over the next 12 months. The Miami growth comes out to a 6.31% increase in hotel room supply, a mark that outpaces the 3.71% projected national growth in 2016.
According to the HMD Index, the supply of luxury rooms within the Miami region is expected to increase by 9.10%, and the supply of mid-range hotel rooms is expected to increase by 7.25% over the next 12 months. By January 2017, Hilton Worldwide (NYSE: HLT) will likely see the greatest increase in hotel room supply in the Miami region with 10.42% growth, while InterContinental Hotels Group (NYSE: IHG) is showing the second highest growth forecast at 6.79%.
The HMD Index’s real-time hotel supply and construction pipeline data is driven by Hotel Market Data’s construction reports, profiles, and analytics. Visit www.hotelmarketdata.com/HotelIndex now to sign up for free email notifications for specific US markets, hotel scales, and hotel franchises.
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