![]() The Christmas holiday through Memorial Day represent the lodging market’s primary season, when “snow-birds” from the Northeast, Midwest and Europe flock to the tropical oasis. The Florida Keys lodging market has experienced diminishing seasonality in recent years due to the region’s proximity to the massive and growing population residing in South Florida which provides for strong shoulder seasons and a very brief downtime. In addition, there are a myriad of dining options available-most of which feature local delicacies such as Florida Keys Spiny Lobster and locally-sourced Stone Crab Claws in season. Hotels in florida keys full#With the Upper Keys located merely an hour from Miami International Airport, visitors to the Florida Keys enjoy a full array of outdoor activities including scuba diving, deep sea and backcountry flats fishing, boating, water sports and environmental awareness activities. An ecological wonder, the Florida Keys are home to the only living barrier reef in the continental United States and are unequivocally regarded as the “Sport Fishing Capital of the World.” Quite simply, the Florida Keys offer all the benefits of an exclusive Caribbean resort destination yet retain the safety, security and convenience of remaining in the United States. The Florida Keys are an internationally acclaimed resort destination that attracts world-wide interest and visitation. This article examines several factors that help explain why the Florida Keys have become the most sought-after market by institutional investors, public REITs and the savviest private capital sources. HFF is the most active capital markets intermediary in the Florida Keys. The insurance market has fully stabilized and is both liquid and competitive today for hotel owners. The market is fully back online with most hotels freshly renovated and surpassing pre-hurricane performance levels. Hurricane Irma, which directly hit the Keys in September 2017, is now a fairly distant memory. This has translated into sustained RevPAR growth over the past 30 years of 4% (CAGR) while supply only grew 0.7% over the same period, according to STR. The island chain connecting Miami and Key West has outperformed virtually every hotel market in the United States in recent decades thanks to its ever-improving stock of destination resort hotels, diverse array of unique experiences, surging Florida population and air lift and statutory restrictions that prevent any material additions to new supply. ![]()
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