Tourism is booming in Florida

Tourism is booming in Florida

Both performance indicators and anecdotal evidence confirm a new boom in the Florida hospitality sector this year.

For instance, in the first quarter of the current year, the combined number of passengers passing through the International Southeast Florida Airport reached 3,708,480 people. About 1.5 million people visited the Sunshine State this March. This is the new record since the first quarter of the pre-pandemic 2019.

In Charlotte County, for example, hotel occupancy rate increased by 24% year-on-year in January, reaching 73%. In February, in grew by 29%. 85% of available hotel rooms were taken. The average daily rate increased even more, by 56%, reaching $187.70. The bed tax revenue in this country grew by 51% compared to January 2021 and by 55% compared to last February. The tax revenue increased by 38% compared to March 2021.

Hotel occupancy rate in Lee County was 88% this February, which is 29% higher than in the same period last year. The average daily rate increased by 45% compared to last February, reaching $277. March set new records. Tourist tax revenues grew from $8.7 million in March 2021 to $10.9 million in the current year. This was the best monthly performance on record.

Local experts explain that tourists flock to Florida for three W’s – Water, Weather, and Water. The lifestyle on the US east coast is relaxed and peaceful. Tourists can choose from a wide variety of holiday pastimes, from wildlife reserves to Disney theme parks. All this makes investment in buy-to-rent properties extremely profitable.

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