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A Look at Miami Hospitalities Growth Potential

Everyone knows that the Miami area is a big hub for luxury markets in general, and high-priced real estate and lodging in particular. But how big is the hospitality industry in Miami, and how much is it expected to grow?

A HospitalityNet article from last spring is providing some staggering numbers on the hospitalities market in Miami, showing the potential for explosive growth that will likely lead to a lot of competition and high-volume hiring among the area’s hotels and hospitalities businesses.

The Numbers on 2013
Recent reporting shows that some experts are expecting Miami’s hospitalities trade volume to reach over $750 million this year. This would be a more than 10% increase over last year, which is supported by numbers from the first half of 2013.

The HospitalityNet article cites William D. Talbert III, President and CEO of the Greater Miami Convention and Visitors Bureau, claiming that “The Miami brand is stronger than ever” and that the city and surrounding area has become a “World-class sophisticated cosmopolitan destination.” These kinds of optimism are growing as locals and others realize the power of the Miami hospitalities and tourism industries to attract growth.

 

Attractions and Factors in Miami Hospitalities Growth
Locals are able to cite quite a few factors in the rapid expansion of the Miami hospitalities industry. One is the upgrades to Miami’s infrastructure, where the city has invested in direct rail service, airport access and other types of transportation building. Another is a thriving annual calendar with many sports events, national and international contests and industry events attracting millions of visitors to Miami each year. Not to be outdone, promoters of Miami’s outdoor environment present the allure of the coastal city’s beaches and waterways through multi-channel visual advertising.

The International City
Some also call Miami the “Gateway to the Americas.” With its proximity to Latin American communities, and its prominence within international shipping routes, the city of Miami has become central to many large and multi-national businesses, and a transportation hub for goods as well as people. This has also created a lot of diversity in Miami, which is attractive to many firms and many who visit the city on business or personal trips.

Hospitalities Staffing and Management
With all of this growth in the city of Miami, hotels and other hospitalities businesses will be hard-pressed to compete directly and to retain top talent to manage all of their business operations. By turning to experienced staffing services, hospitalities businesses can build more comprehensive plans to attract job candidates, fill open positions and build excellent teams who can enhance brand reputation in this very important local area. Talk to RMG for more on best practices for hospitalities staffing, and information on the options that are available to hospitalities managers. Serving Miami’s hospitality industry for the past 5 years, let us put our knowledge and expertise to work for you! Contact us Today!

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