MIAMI – The Greater Miami Convention & Visitors Bureau (GMCVB) announced record-breaking travel and tourism numbers with an impressive 5.4% increase in overnight visitors to Miami and the Beaches during the last twelve months (September 2014 – August 2015). During that time the destination welcomed 15.1 million overnight visitors up from 14.2 million over the same period for the previous year bringing the economic impact to an astounding $25.1 billion to the destination, up from $23.5 billion, a 7% increase. The record-breaking numbers are released as the details for the new Miami Beach Convention Center are unveiled, providing the destination with an unprecedented opportunity for further economic impact and job growth through meetings and conventions business in the near future.
$615 million investment to renovate and expand Miami Beach Convention Center
“We are breaking record upon record across industry indicators and are only beginning to realize the full potential and incremental economic impact once the new Miami Beach Convention Center opens its doors,” says President & CEO William D. Talbert, III, CDME. “The GMCVB is hard at work selling the destination both through leisure and group marketing campaigns. We are booking business today for tomorrow’s convention center and fully leveraging our global sales offices, PR agencies, advertising and digital programs as well as targeting new business sectors in the pharmaceutical, tech, medical, insurance, finance industries among many more. Also, this year we are seeing a 5% increase in hospitality jobs and already we are the number one industry for employment growth in the destination. The future is even brighter.”
The New Miami Beach Convention Center (MBCC)
Once home to Muhammad Ali boxing matches, the NFL Super Bowl Media Headquarters, NAACP National Conferences and both the Democratic and Republican National Conventions, and today home to Art Basel Miami Beach, the Miami Beach Convention Center is being reimagined as a state-of-the-art LEED certified facility with more than 500,000 square feet of exhibit space, a 60,000 square foot mixed use ballroom and 81 new break-out rooms spanning 190,000 square feet. The $615 million investment has already contributed to notable meeting bookings including the American Health Information Management Association (AHIMA), International Association of Chiefs of Police and The Premier Association of Financial Professionals (MDRT). The new MBCC is expected to bring an additional $100 million per year to the destination’s economic impact. In addition to the renovated and expanded facility, the GMCVB is fully supportive of the proposed headquarter hotel. The adjacent hotel build-out will provide the destination with an 800-room, Art Deco inspired hotel. The future hotel, developed by Portman Property Group, will provide meeting planners and future convention organizers with an easily accessible hotel directly linked, lobby to lobby, to the renovated MBCC via Sky Bridge.
Supply Keeps up with Demand
With airport arrivals up 5.5% this year, and the average visitor stay extending to six nights, people are staying longer because there is simply more to see and do, especially in our diverse and multicultural neighborhoods. The past 12 months show a 3% increase in rooms sold across the destination for an all-time record of 13.2 million room nights. Revenue Per Available Room increased 7% from $146.48 to $156.70 as the community prepares to welcome an additional 2,300 hotel rooms in the next 12 months. Global hotel brands are launching flagship projects in Miami, examples include the future downtown-based Marriott Marquis Miami & Expo Center, bringing 1,800 rooms by fall of 2018 making it the largest hotel in the South Florida area. And, the new Faena District is a billion dollar project spanning several city blocks to include the Faena Hotel Miami Beach, set to open its doors in November 2015. The new EAST Miami Hotel – the first outside of Asia will open its doors winter of 2016 and bringing with it more than 260 rooms in the heart of the new Brickell City Center complex. Already the nation’s top gateway into the Americas, Miami continues to see growth in new direct-service from major global carriers. Miami International Airport (MIA) is served by more than 100 airlines, more than any other airport in the United States. On October 25, 2015, non-stop service from Istanbul with Turkish Airlines will commence. In the last 12 months, Miami welcomed new non-stop service from Vienna with Austrian Airlines and non-stop service from Manchester with Thomas Cook Airways among many more. The new service comes on the heels of the recent launch of the Doha-Miami route with Qatar Airways – the first non-stop service from the Middle East to the State of Florida.
“Miami is officially a luxury destination attracting global premium brands in airline, retail, and hotel categories,” says GMCVB Chairman Bruce Orosz. “With more than $5 billion in new development and investment projects coming to Miami and the Beaches in the next three years, it’s no surprise that the destination is a preferred location for the production industry as well as global entertainment and sporting events.”
New Development & Investment Projects
- All Aboard Florida – A $2.5 billion privately-run passenger train connecting Miami and Orlando.
- American Dream Miami – American Dream Miami entertainment and retail complex proposed for Northwest Miami-Dade backed by the company behind the Mall of the America in Minnesota has been announced. It will be the largest mall in North America.
- Brickell City Centre – A $1.05 billion project bringing three office buildings, two residential towers, shopping and dining center and EAST Miami Hotel to life in Downtown Miami.
- Faena District Miami Beach – This comprehensive real estate project created by famous Argentine developer, Alan Faena in collaboration with award winning architects, engineers and designers will span three blocks along Collins Ave. Highlights include Faena Saxony Hotel, Faena House (a 24-story building with 47 ocean view luxury residences), Faena Forum (center for dance, theater, political debates, lectures and cultural happenings), Faena Arts Center, Faena Bazaar and Artists-in-Residence Center, Faena Park, a Marina and gardens.
- Miami World Center in Downtown Miami – One of the largest private master-planned projects in the U.S. at $2 billion will include retail, restaurants, entertainment, residential and commercial offerings plus an 1,800 room Marriott Hotel with 600,000 square feet expo center.
- Patricia & Phillip Frost Museum of Science – Completing Miami’s new Museum Park, home to the new Perez Art Museum and Miami Science Museum, this new scientific, educational and career resource will enrich lives with its real-life marvels, interactive exhibits, and exciting learning adventures in a state-of-the-art energy-efficient building.
- Skyrise Miami in Downtown – Set to open in 2018, the 1,000 foot observation tower will include an amusement park-style ride that drops people down its side, a 550 foot bungee jump, a ballroom, moving movie theater and nightclub.
Photo caption: The New Miami Beach Convention Center (MBCC).