The St. Regis Bal Harbour sold for a pricey $213 million
From the South Florida Market Report: Institutional investors and tourists are invading the South Florida hotel market – and for some of them, it’s more than a short-term stay.
Among the signs of the region’s comeback since the recession is the demand for high-end hospitality. Miami ranks as one of the top hotel destinations in the U.S. in terms of revenue per available room and has an occupancy rate of more than 80 percent, according to Tennessee-based Smith Travel Research. [more]