Miami played host to the Miami Grand Prix on May 7, the second race in a 10-year contract with Formula 1. Miami’s hotel industry enjoyed higher occupancy rates than during last year’s race week, thanks to growth in event attendance, but average daily rates and revenue per available room fell short of the high levels achieved in the event’s inaugural year.
Miami Grand Prix a Mixed Bag for South Florida Hotels
Occupancy Rates Top Last Year’s Event but Some Numbers Decline
By Daryl Cronk
CoStar Analytics
May 17, 2023 | 2:36 P.M.
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