Miamis hotel market is booming this year, according to Jones Lang LaSalle’s Hotels and Hospitality Group. Experts are expecting $750 million of capital from investors into the Miami hotel market, a 12 percent increase from $600 million in 2012.
“During the last decade Miami has expanded its infrastructure, built strong ties to international trade and positioned itself as an international tourist destination,” said Gregory Rumpel, managing director for Jones Lang. “Miami’s positioned itself as the ‘Gateway to the Americas.’”
Miami events such as the Ultra Music Festival, Sony Ericsson Open and the Miami International Boat Show contributed to this trend; these events bring tens of thousands of visitors to Miami every year.
Miami Beach has seen the strongest performance, making up more that 71 percent of the total Miami area transaction volume in 2012.
If you are interested in the hotel industry, now is a great time to invest, especially in Miami and Miami Beach. If you are a foreign national, investing in a hotel may also be a path to a visa, green card, or even citizenship. For more information, contact Boyer Law Firm today.
Source: South Florida Business Journal