Miami Hotel Market 2026: Occupancy, ADR, RevPAR, Resort Tax, World Cup and Sales

Miami-Dade’s hotel market in 2026: rates carried the year while summer occupancy softened, Luxury led class growth, and Hard Rock Stadium’s seven FIFA World Cup matches lifted ADR more than occupancy. This page tracks Greater Miami Convention & Visitors Bureau (GMCVB) and STR performance by submarket, Miami Beach resort tax and short-term rental rules, World Cup match windows, Art Basel and Latin American inbound, condo-hotel and branded-residence news, insurance cost pressure, and 2025–2026 sales with price per key where disclosed. For statewide Florida context see the Florida Hotel Market 2026 page; the Miami Floor Report covers the Hospitality Show floor only.

Last updated: October 30, 2026 · Refresh as new GMCVB monthly STR PDFs, County tax guidance and transaction disclosures land. Byline: Nathan Snyder, Editor.

2026 performance at a glance

Full-year 2025, STR via GMCVB put Miami-Dade at 73.9% occupancy (−0.1%), $224.24 ADR (+1.2%) and $165.73 RevPAR (+1.1%) (GMCVB Dec 2025 YTD PDF). Through January–August 2026 the county ran 74.2% occupancy (−2.4%), $261.54 ADR (+12.8%) and $193.95 RevPAR (+10.1%) (GMCVB Sept. 2026 Industry Updates). August was the soft month (occ 63.6% / −7.6%, RevPAR −7.9%); September month rebounded on rate (ADR +14.1%) with still-soft absolute occupancy (62.8%).

Select 2025 YE submarkets (occ / ADR / RevPAR): Surfside / Bal Harbour 63.6% / $685.24 / $435.60 (+7.5% RevPAR); Coconut Grove / Key Biscayne 72.1% / $309.06 / $222.76; Miami Beach 71.4% / $287.90 / $205.55; Downtown Miami 74.3% / $244.09 / $181.38; Airport 80.7% / $137.62 / $111.05 (same Dec YTD PDF).

Submarket (Jan–Aug 2026)	Occ	ADR	RevPAR	RevPAR YoY
Surfside / Bal Harbour	66.7%	$787.89	$525.74	+14.9%
Coconut Grove / Key Biscayne	67.0%	$393.36	$263.65	+12.4%
Miami Beach	71.4%	$340.39	$243.10	+10.1%
Downtown Miami / Brickell	75.1%	$278.28	$208.98	+9.4%
Airport	80.3%	$155.63	$125.04	+7.5%
Miami-Dade total	74.2%	$261.54	$193.95	+10.1%

Source: STR in GMCVB September 2026 Industry Updates. Prefer Jan–Aug for continuity with the Florida statewide page; September YTD (occ 72.9% / ADR $252.60 / RevPAR $184.15) is a separate monthly refresh — do not blend unlabeled periods (Sept Occupancy/ADR PDF).

Class mix, January–June 2026 (STR via GMCVB August industry update): Luxury RevPAR +14.0% to $476.41 on $643.25 ADR; Upscale RevPAR $231.12 (+8.1%); Midprice $172.69 (+9.7%). Luxury was about 10% of hotels / 20% of rooms (Aug Industry Updates).

Visitors, first half 2026 (GMCVB Visitor Profile; Florida residents excluded): overnight domestic 5.42M (−0.8%), overnight international 2.59M (+2.4%), total overnight 8.01M (+0.2%). Top international overnight: Colombia 203k (+12.5%), Canada 179k (+15.0%), Brazil 169k (−6.8%), UK 150k (+8.6%), Mexico 123k (+13.2%).

Short-term rentals (AirDNA, through Sept. 2026): trailing-12-month average annual revenue per active listing was $52.6K (+103.4% YoY) while listings fell 17.9% and revenue per available room rose only 26.0% (occupancy 61%, ADR $262). The +103.4% figure is revenue per remaining active listing amid a supply cull — not the same as marketwide hotel RevPAR.

Resort tax, county lodging taxes and short-term rentals

In addition to 6% Florida sales tax, Miami-Dade collects local Convention & Tourist lodging taxes totaling 6% in most of the county: 3% Convention Development Tax (not in Surfside or Bal Harbour), 2% Tourist Development Room Tax (not in Surfside, Bal Harbour or Miami Beach), and 1% Professional Sports Facilities Franchise Tax (same carve-outs as TDT) (Miami-Dade Tourist and Restaurant Taxes).

Miami Beach adds a city 4% Resort Tax on transient room rent and 2% on restaurant/bar food and alcohol (Miami Beach Finance). Beach lodging still pays the county 3% Convention Development Tax and is carved out of the county 2% TDT and 1% sports franchise tax. Prefer stating components rather than inventing a single all-in guest %.

Vacation rentals under six months and one day are prohibited in all single-family homes and in many multi-family buildings on Miami Beach; legal STRs need zoning approval, a Business Tax Receipt and a Resort Tax account, with license numbers in every ad (City of Miami Beach). Alcohol on city beaches is prohibited year-round (Beach Rules). Florida’s statewide minimum wage is $15.00/hour from Sept. 30, 2026 through Dec. 31, 2027 (FloridaJobs).

FIFA World Cup 2026 — Hard Rock Stadium

Hard Rock Stadium (Miami Gardens) hosted seven FIFA World Cup 2026 matches in a window framed June 15 – July 18, including the Bronze Final framing in GMCVB materials (GMCVB Sports workshop PDF). Across GMCVB’s three-day match windows vs 2025, hotel occupancy fell 3.9% while ADR rose 38.5%, RevPAR 34.2% and revenue 35.9%. Strongest hotel window: Scotland vs Brazil (June 24) — occ +6.9%, ADR +60.9%, RevPAR +72.2%. Softest early windows included Saudi Arabia vs Uruguay (June 15, occ −13.0%) and Uruguay vs Cape Verde (June 21, occ −13.9%). Short-term rentals in the same windows saw occ +7.2%, ADR +72.8%, RevPAR +86.1% (August Industry Updates).

GMCVB’s post-event narrative: a successful event; paid lodging occupancy “not as robust as expected” partly because the usual summer visitor was softer; post-Cup ADR stayed elevated while occupancy ran soft.

Notable 2025–2026 sales

Price per key only where price and keys are both publicly attributed.

• EAST Miami, 788 Brickell Plaza (352 keys, Sept. 2025): about $300M reported overall (Bisnow sources: “just under / nearly $300M”) versus a deed of $147.8M for real estate. Hotel prices often run above the deed because of furniture and operations (Bisnow). Per-key on ~$300M ≈ $852,273; on deed $147.8M ≈ $419,886. Buyer: Blackstone Real Estate from Trinity Investments + Certares (Trinity; Bisnow).
• Mayfair House Hotel & Garden, Coconut Grove (179 keys, June 2026): Commercial Observer and Bisnow framed about $110M total consideration, with a deed of $69.4M for real estate (FF&E/ops bridging to ~$110M). Per-key on $110M = $614,525; on deed $69.4M = $387,709 — label which. Buyer side: entities tied to Elliott Management / Lifestyle Hospitality from Brookfield (Commercial Observer).
• Stadium Hotel, Miami Gardens (217 keys, Aug. 2025): $24M — about $110,644/key in trade press; exact math 24,000,000 ÷ 217 = $110,599. Buyer: AHF (AIDS Healthcare Foundation / Healthy Housing) (Hotel Business; Miami Today).
• Hampton Inn Miami Airport East (127 keys): buyer AON Hospitality Group (Hunter Advisors). A secondary price of $23.5M appears in TRD/Traded coverage; Hunter’s release did not disclose price.
• Arlo Wynwood (217 keys, Oct. 1, 2026): deed / reported $44.3M ($204,147/key); some secondary outlets cite ~$65M all-in with FF&E/ops — this page uses the $44.3M deed figure. Buyer: Dauntless Capital Partners from Quadrum Global.
• 944 Collins (Corendon South Beach Miami) + Beach Plaza, 1401 Collins (192 keys combined, Oct. 9, 2026): over $50M for both hotels — a floor, not an exact price (combined >~$260k/key on a $50M floor). Corendon Hotels & Resorts’ first U.S. deal (The Real Deal).

No Miami-Dade hotel CMBS special-servicing transfer was publicly identified in sources reviewed for this pack as of Oct. 30, 2026. Lodging Econometrics’ free Q3 2026 U.S. markets release did not name Miami among top-5 pipeline leaderboards — Miami under-construction room count is not publicly available in that free excerpt.

Branded residences: Raffles Residences Coconut Grove — 35 private homes; Raffles’ first standalone branded residences (no hotel attached); Mast Capital + BH Group; announced Oct. 29, 2026 (Hotel Business). Starting-price secondary figures are omitted pending developer confirmation.

Pipeline note (GMCVB July 1, 2026): HOO Miami Legacy / Legacy Hotel & Residences is one 219-key Miami Worldcenter project — count it once. Coverage describes the project as stalled and in foreclosure (Commercial Observer / The Real Deal). Prefer GMCVB July 1, 2026 pipeline totals (3,575 under construction / 4,334 final planning / 7,909 total) over secondary CoStar/Miami Today headlines.

Openings: Ennismore said the Delano is open as of June 2026 (171 rooms); the Miami Herald noted a public reopening in May 2026 — attribute both, prefer the brand release for “opened.” Waldorf Astoria Miami Beach is slated for Winter 2027 with 348 suites (Hilton). Hilton puts the downtown Waldorf Astoria Miami in 2028.

Demand drivers and insurance

Latin America and Canada remain structural overnight engines (Colombia/Mexico/Canada up double digits H1; Brazil soft). Art Basel Miami Beach is scheduled Dec. 4–6, 2026 on the fair calendar; 2025 drew >80,000 visitors (Art Basel). MBCC CYTD RFPs received 4,556 (+27%) with 753 awards (−21%) — a conversion watch (Cvent via GMCVB). CREFC’s 2026 hospitality insurance webinar framed property hard-market relief (wind deductibles often ~5% vs prior 10% Tri-County peaks) while liability share of the premium mix rises — attributed market commentary, not an appraisal of any named hotel’s binder.

Key sources

• GMCVB Dec 2025 Occupancy/ADR PDF
• GMCVB Aug / Sept 2026 Occupancy/ADR and Industry Updates PDFs
• GMCVB Sports World Cup workshop PDF
• Miami-Dade Tourist and Restaurant Taxes; Miami Beach Resort Tax and Vacation/STR pages
• Hotel Business Raffles Residences (Oct. 29, 2026); Commercial Observer Mayfair; The Real Deal Corendon
• CREFC hotel insurance webinar 2026
• Sibling: Florida Hotel Market 2026 · Event: Miami Floor Report

What’s next for Miami hotels

• World Cup summer left a rate-led, occupancy-soft hangover. Greater Miami Convention & Visitors Bureau’s September 2026 industry update said hotels had a strong RevPAR year overall, but “post World Cup, occupancy has been challenging and rates are not growing as fast as they have all year,” with Tourism Economics forecasting hotel RevPAR to dip in early 2027 while Q4 2026 / most of Q1 2027 still look firm (GMCVB Sept. 2026 PDF). STR via the same PDF: Miami-Dade January–August 2026 occupancy 74.2% (−2.4% YoY), ADR $261.54 (+12.8%), RevPAR $193.95 (+10.1%).
• Cruise and air remain structural demand engines. PortMiami said it welcomed its 10 millionth cruise passenger on Sept. 14, 2026, already surpassing the prior fiscal-year record of 8,564,225 passengers with two weeks left in FY2026 (GMCVB / PortMiami via GMCVB update). MIA July YTD 2026 total arrivals were 14.0M (−0.9% YoY) in the same report — flat-to-soft air capacity is a watch item for international-led ADR.
• New lifestyle product is still being financed on the Miami River. Driftwood Capital / partners closed a $145 million Centennial Bank construction loan for Riverside Wharf, a ~$350 million mixed-use project including a 167-key Dream Hotel targeted for fall 2028 (Hotel Business; Commercial Observer). Analysis: Downtown/River product competes with Beach rate leaders on a different guest mix; underwrite Stabilized NOI separately from South Beach comps.
• Tourist development taxes stay a material guest cost. Florida’s 2026 Local Option Tourist Development Tax table lists Miami-Dade’s county tourist-development-related lodging taxes at a 6% combined countywide rate framework (with municipal resort-tax overlays in Miami Beach / Surfside / Bal Harbour called out in EDR footnotes) (EDR 2026 LOTT rates PDF). Prefer stating county components from primary tax pages rather than inventing a single “all-in %.”
• Statewide labor floor rises; coastal insurance remains an underwriting overlay. Florida’s minimum wage is $15.00/hour from Sept. 30, 2026 through Dec. 31, 2027 (FloridaJobs). Citizens Property Insurance published 2026 commercial nonresidential rate/rule changes effective July 1, 2026 — treat as statewide residual-market context, not a Miami hotel-only premium quote. Analysis: Coastal owners should stress-test named-wind deductibles and surplus-lines pricing in refinance models; do not invent a Miami hotel premium % without a binder.
• Booking tech shifts hit leisure and group planners. Vrbo’s Reserve Now, Pay Later and Meta Muse AI connectors (Agoda live in SG/JP; Cloudbeds direct path planned for U.S. Q1 2027) change how leisure guests commit and how independents reach AI agents. Meta has not disclosed a travel take-rate — label distribution-cost outlooks as Analysis.

Miami hotel market FAQ

How is the Miami hotel market doing in 2026?

Through August 2026, STR data published by GMCVB put Miami-Dade at 74.2% occupancy (−2.4%), $261.54 ADR (+12.8%) and $193.95 RevPAR (+10.1%). Full-year 2025 was 73.9% occupancy, $224.24 ADR and $165.73 RevPAR (+1.1%). August was soft (RevPAR −7.9%); luxury led class growth in the first half.

What taxes do Miami Beach hotels collect?

Miami Beach levies a 4% Resort Tax on transient room rent and a 2% tax on restaurant/bar food and alcohol. Guests also pay the county 3% Convention Development Tax and Florida sales tax. Miami Beach is carved out of the county’s 2% Tourist Development Room Tax and 1% Professional Sports Facilities Franchise Tax.

Are short-term rentals legal in Miami Beach?

Vacation rentals under six months and one day are prohibited in all single-family homes and in many multi-family buildings. Legal STRs need zoning approval, a Business Tax Receipt and a Resort Tax account, with license numbers in every ad (City of Miami Beach).

How did the World Cup affect Miami hotels?

Hard Rock Stadium hosted seven matches. Across GMCVB’s three-day match windows, hotel occupancy fell 3.9% vs 2025 while ADR rose 38.5% and RevPAR 34.2%. Short-term rentals saw larger rate and RevPAR gains than hotels in the same windows.