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New Miami Blog Insights and Commentary on the Gateway City's Expanding Global Significance

Category Archives: Hospitality, Leisure & Restaurants

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Miami Proactively Seeking Medical Tourism

Though the multi-billion dollar medical tourism industry is dominated by Asia, it is on the rise in the United States, with many wealthy international patients eyeing the U.S.’s innovative treatments in areas such as orthopedic and cosmetic surgery and cancer treatments. American hospitals are increasingly recognizing that, in addition to prestige, this niche industry can… Continue Reading

Launch of Miami Beach Suncare Line

The City of Miami Beach kicked off its birthday celebration the evening of Friday, March 14th with a launch party for Miami Beach Suncare, a new line of skincare products. In attendance were some of Miami’s brightest stars, including Emilio Estefan, Lili Estefan and various City officials. Spearheaded by Destination Brands International (DBI), the line launched with… Continue Reading

History Repeats Itself at the Mouth of the Miami River

Ten years ago, attorney Michael Kreitzer represented a developer who was faced with an injunction on its development of a high-rise apartment building on the south side of the Miami River after it was discovered that the Tequesta Indians had occupied the site, soon to be known as the “Miami Circle” approximately 2,000 years earlier. That… Continue Reading

2014 Legislative Session: Bills to Watch

On Tuesday, March 4th, Florida lawmakers gathered in Tallahassee for the start of the 2014 legislative session. Lawmakers now have 60 days to pass their bills into law. For those of us in South Florida, we want to follow this session not only because it takes place during an election year, but also because several… Continue Reading

Supreme Court Denies Certiorari in Win for Condo-Hotel Developers

We recently posted about condo-hotels and their apparent comeback in the marketplace. Now, a recent Supreme Court decision that decreases the restrictions historically inherent to these types of properties could intensify the demand and spark a resurgence for condo-hotel projects in Miami and beyond. The United States Supreme Court decision last week to refuse to… Continue Reading

New Miami in the News: Weekly Recap

This week in New Miami news, David Beckham, new international airlines at MIA, Miami’s young adults, the new free trolley service in Miami Beach and Microsoft’s job training program all made headlines. MLS, Beckham To Launch Miami Team If Stadium Plans OK’d At a press conference yesterday, it was officially announced that Major League Soccer is coming to Miami.  Negotiations to select… Continue Reading

Miami Hotel Outlook for 2014

Attracting International Travelers The economic outlook for the Miami hotel market continues to be positive for 2014. Many expect strong demand and continued growth in the hospitality sector due to increasing numbers of international travelers. With new flight routes planned at the Miami International Airport and a variety of special events scheduled throughout the year,… Continue Reading

Happy Holidays to All Our Readers!

It’s hard to believe that 2013 is already drawing to a close – the year in New Miami flew by in a whirlwind of development as new plans were announced and projects took shape. From rail, seaport and airport expansion to the buzzing arts and cultural scene, New Miami continued to grow. We celebrate our… Continue Reading

New Miami in the News: Weekly Recap – Art Basel Edition

Today’s New Miami recap focuses on Art Basel – both the art itself and the opportunity it brought for brokers to court potential clients. Record Sales, Crowds At Art Basel Miami Beach 2013 With over $3 billion worth of art on display and an estimated 50,000 visitors flying to Miami for the fair, this was… Continue Reading

Soccer at the Seaport?

Should a soccer stadium be built at the Port of Miami?  Soccer superstar David Beckham and his investment team have identified the southwest corner of the Port as a potential stadium site for a new Major League Soccer franchise. Sports enthusiasts hail the waterfront site with its stunning views of downtown as the perfect place… Continue Reading

Miami-Dade County Retail Industry Expands Amidst Increasing Demand

Along with the condo market and the hospitality industry, the retail sector in Miami-Dade County has bounced back from the downturn, and developers and retailers are scrambling to expand existing shopping centers and build new centers in emerging markets such as the Design District, north of downtown Miami.  As Terranova Corp., a Florida real estate… Continue Reading

New Miami in the News: Weekly Recap

This week in New Miami news, don’t miss the renderings of developer Jeff Berkowitz’s Skyrise Miami, a sleek 1000-foot observation tower that would become Miami’s tallest building. Channel deepening project begins at PortMiami Deepening the shipping channels will allow megaships to cross the expanded Panama Canal beginning mid-2015. Resident influx feeds rising condo towers With… Continue Reading

Are Condo Hotels Making a Comeback?

Condo hotels offer private individuals the opportunity to purchase a condominium unit for personal use part of the year and for rent to the general public as part of a hotel when it is not in use by the owner.  These projects provide a source of financing for developers, a seasonal vacation home for unit… Continue Reading

New Miami in the News: Weekly Recap

This week, David Beckham, Art Basel, MIA and a Global Diversity Summit all made headlines. David Beckham chooses Miami to build his soccer empire According to reports, the international soccer icon’s MLS franchise team will be located in Miami. As passenger numbers rise, Miami International Airport adds more venues, flights MIA continues to expand with… Continue Reading

New Miami Breakfast Series – Real Estate Financing Highlights

I recently had the pleasure of moderating the latest installment of the Bilzin Sumberg New Miami Breakfast Series – “The Return of Real Estate Financing: Passing Trend or Here to Stay?” During our lively discussion, which featured an expert panel of industry leaders (listed below) and a packed audience of business and community leaders, several… Continue Reading

Hotel Transactions in Miami Still Simmering

As Suzanne Amaducci-Adams wrote in a previous blog post, the average daily occupancy rate, average daily room rate (ADR) and revenue per available room (RevPAR) numbers for Miami each had a significant increase for the first seven months of 2013 over 2012. As you can see in the chart below, Miami is in outstanding company when… Continue Reading

HVS Miami Report: Miami’s Leap To Global Gateway Status

Andrew Cohan, Vice President of HVS Miami, a hospitality driven mixed-use real estate consulting and valuation firm, recently co-authored his firm’s Autumn 2013 Florida Newsletter entitled “Miami’s Leap to Global Gateway Status.”  The report provides a detailed and interesting look at how Miami hotel values went from national average to almost four times the national average… Continue Reading

New Miami in the News: Weekly Recap

This week, floating cities, art galleries and the upcoming long weekend’s impact on hospitality made headlines. Here are 5 New Miami highlights from the news this past week. Floating city for Biscayne Bay? Miami Today reported that a Dutch developer is considering Biscayne Bay as the site for a $200 million floating island development with luxury housing, offices,… Continue Reading

Miami Hotel Market Update: RevPAR Up, Occupancy Up, ADR Up

CBRE Hotels, one of the hospitality industry’s leading full-service real estate groups, recently published its Summer 2013 report on the latest hospitality trends in Miami. The “Miami – Hotel Market Update” brings good news, with notable highlights including the following: Miami once again ranked among the strongest hotel markets in the nation, behind only New… Continue Reading

Downtown Miami Hotel Market Heats Up

The Miami hotel market is one of the hottest in the country and beyond. As a recent article in Law360 reports, downtown Miami in particular is playing a big part in the resurgence of the market. The city’s urban core, an area that was once overlooked and saw little development during the economic downturn,  is… Continue Reading

Thank You For Joining Us For Our New Miami Breakfast Series | Hospitality

Thursday, June 13, 2013 8:00 AM – 10:00 AM 1450 Brickell Avenue, 23rd Floor Miami, FL 33131 Thank you for joining us for the second installment of the New Miami Breakfast Series. Hospitality: A Bird’s Eye View of Miami and Beyond Miami is one of the most active hotel investment markets in the country and… Continue Reading

Miami Travel Market on the Rise

Warm weather and great events seemed to lure visitors this spring as Miami ranked #1 in March among the top 25 markets nationally for Average Daily Rate (ADR) at $238.12, Revenue Per Available Hotel Room (REV PAR) at $212.20 and Hotel Room Occupancy at a high 89.1%.  Even more telling, the ADR increased 14.4% and… Continue Reading

InterContinental Miami Hotel: Evolving Alongside Miami as it Comes-of-Age as a World Class City

This is a guest post by Robert Hill, General Manager of the InterContinental Miami, one of the city’s longest standing hotels in the heart of its urban core. With ties to international trade and commerce, increased sophistication, entertainment and culinary excellence, and its renewal as a domestic and international tourist destination, Miami’s hospitality market is… Continue Reading

Size Does Matter: Jumbo Lending Up in South Florida

Jumbo loans (loans above conforming loan limit of $417,000 in Miami-Dade and Broward Counties) increased by 31% year-over-year in 2011 to 3,782 jumbo loans originated in South Florida.  This accounted for nearly half of the overall home loan growth according to Compliance Technologies’ database of Home Mortgage Disclosure Act (HMDA) filings.  Jumbo Loans More Appealing… Continue Reading