News for the Hospitality Executive
MIAMI, Dec. 5, 2012 -- Art Basel, the world's premier international art show that takes place this weekend in Miami, is not only filling up area hotels. It's also making hotel rooms considerably more expensive for last-minute planners. Those are the findings of a recent survey from MiamiHotels.org. The study established all available hotels and their rates based on research culled from the various leading hotel-booking sites.
In South Beach Miami, where most of the show's main exhibits are held, about 70% of hotels are currently already sold out. Those establishments still offering rooms are increasing their rates in response to the dearth of availability. Average price hikes in South Beach are hovering around 125% higher in comparison to regular rates. Some accommodations, however, are gouging guests much more.
One such establishment is the Fashionhaus Hotel, an Art Deco hotel desirably located close to the beach. Suites that regularly go for $299 per night there have risen to $999 nightly during Art Basel. That represents a 234% increase in cost. The award for the biggest rate hike, however, goes to the Royal South Beach Hotel. This 2-star hotel also situated near the beach is currently charging $599 to stay overnight in a studio. That's 284% more than it would usually cost.
In South Beach, Art Basel attendees will currently have to spend around $300 per night for the cheapest available room. That's assuming they want to stay in a minimum 3-star hotel. More affordable rates are available a few miles north in Miami Beach, where out-of-town visitors can find a room for around $180 nightly. Budget travelers also have the option of staying around the Miami airport, where they can still find a room in a decent 3-star accommodation for $100 per night.
For the full results of the survey, visit http://www.miamihotels.org/press/art-basel-2012.html