From the economic powerhouse of Orlando to the luxury enclaves of Palm Beach, Florida’s hotel industry in 2023 wasn't just a collection of places to sleep but a colossal $15.2 billion engine driving the state's prosperity and shaping millions of vacation memories.
Key Takeaways
- In 2023, Florida's hotel industry generated over $15.2 billion in taxable hotel revenue, marking a 12% increase from 2022.
- Miami-Dade County's hotels contributed $4.8 billion in total economic output in 2023.
- Orlando's hotel sector added $8.1 billion to local GDP in 2022.
- Florida hotel occupancy rate was 68.4% in 2023, highest since 2019.
- Orlando market occupancy hit 82.1% in Q3 2023.
- Miami Beach hotels averaged 75.3% occupancy in peak season 2023.
- Florida hotel industry employed 245,000 direct workers in 2023.
- Orlando hotels supported 78,000 jobs in hospitality in 2023.
- Miami-Dade hotel workforce totaled 52,000 employees in 2023.
- Florida welcomed 140.6 million visitors in 2023, boosting hotel demand.
- International visitors to Florida: 11.5 million in 2023, 8% from Canada.
- Orlando saw 74 million visitors, 60% stayed in hotels.
- Florida added 4,200 hotel rooms in 2023, total supply 450,000 rooms.
- Orlando opened 2,800 new hotel keys in 2023.
- Miami-Dade approved 15 new hotel projects for 5,000 rooms by 2025.
Florida hotels are thriving with strong revenue growth and high occupancy across the state.
Economic Impact and Revenue
- In 2023, Florida's hotel industry generated over $15.2 billion in taxable hotel revenue, marking a 12% increase from 2022.
- Miami-Dade County's hotels contributed $4.8 billion in total economic output in 2023.
- Orlando's hotel sector added $8.1 billion to local GDP in 2022.
- Statewide, Florida hotels paid $2.3 billion in property taxes in 2023.
- The Florida hotel industry supported 1.2 million jobs indirectly through supply chains in 2023.
- Broward County's hotel revenue reached $1.9 billion in 2022, up 15% YoY.
- Florida beachfront hotels generated $6.5 billion in visitor spending in 2023.
- Tampa Bay area hotels contributed $2.4 billion to the economy in 2023.
- Florida's convention center hotels drove $1.1 billion in direct spending in 2022.
- Luxury hotels in Palm Beach County produced $1.2 billion in revenue in 2023.
- Florida hotels collected $1.4 billion in tourist development taxes in FY2023.
- The industry's total output multiplier effect was 2.8 in Florida for 2023.
- Jacksonville hotels generated $850 million in economic impact in 2022.
- Florida Keys hotels contributed $1.3 billion to Monroe County's economy in 2023.
- Naples hotel sector added $950 million in visitor-related spending in 2023.
- Statewide hotel ADR averaged $185.40 in 2023, up 8% from prior year.
- Florida RevPAR reached $152.30 across 1,200 properties in Q4 2023.
- Total hotel room revenue in Florida hit $18.7 billion in 2023.
- Florida's hotel industry labor income totaled $7.9 billion in 2022.
- Direct hotel spending by international visitors was $3.2 billion in 2023.
- Florida hotel tax receipts grew 11% to $1.65 billion in FY2023.
- The sector's value added to Florida GDP was $12.4 billion in 2023.
- Panama City Beach hotels generated $450 million in revenue in 2023.
- Florida's resort hotels accounted for 42% of total hotel revenue in 2022.
- Hotel-driven tourism taxes funded $750 million in infrastructure in 2023.
- Sarasota County's hotels produced $1.1 billion economic output in 2023.
- Florida hotel industry multiplier for employment was 2.1 in 2023.
- Direct business travel hotel spending was $2.8 billion in Florida 2023.
- Florida's vacation rental alternatives to hotels impacted $1.5B less in taxes.
- Total induced economic impact from hotels was $4.2 billion in 2023.
Economic Impact and Revenue Interpretation
Florida's hotels are so much more than just places to sleep—they're a $15-billion-plus economic engine that quite literally built, employs, and funds the Sunshine State, from the taxes that pave the roads to the 1.2 million jobs that keep the lights on.
Employment and Labor
- Florida hotel industry employed 245,000 direct workers in 2023.
- Orlando hotels supported 78,000 jobs in hospitality in 2023.
- Miami-Dade hotel workforce totaled 52,000 employees in 2023.
- Tampa Bay hotel jobs numbered 32,000 in 2023.
- Florida hotel average wage was $28,450 annually in 2023.
- Broward County hotels employed 28,500 workers in 2023.
- Jacksonville hotel sector had 15,200 direct jobs in 2023.
- Palm Beach hotel employment reached 22,000 in 2023.
- Florida Keys resorts employed 12,400 staff in 2023.
- Naples hotel jobs totaled 11,500 in peak season 2023.
- Statewide hotel turnover rate was 48.2% in 2023.
- Orlando front desk jobs grew 5% to 8,200 in 2023.
- Florida housekeeping staff in hotels: 65,000 positions filled 2023.
- Management roles in Florida hotels: 18,500 employed in 2023.
- Food & beverage hotel jobs: 72,000 statewide in 2023.
- Labor shortage affected 35% of Florida hotels in 2023.
- Average hotel GM salary in Florida was $95,200 in 2023.
- Sarasota hotel employment: 9,800 jobs in 2023.
- Panama City Beach seasonal hotel jobs: 7,200 in 2023.
- Florida hotel industry added 12,000 net new jobs in 2023.
- Female workforce share in Florida hotels: 52% in 2023.
- Hispanic/Latino hotel employees: 28% of total in Florida 2023.
- Training hours per hotel employee averaged 24 in Florida 2023.
- Unionized hotel workers in Florida: 4.2% of total 2023.
- Part-time hotel jobs: 42% of Florida hotel employment 2023.
- Overtime hours in Florida hotels averaged 150 per employee 2023.
Employment and Labor Interpretation
While Florida hotels employed nearly a quarter of a million people in 2023, the sobering 48.2% turnover rate and 35% labor shortage suggest the industry is frantically staffing a gilded, yet revolving, door.
Hotel Development and Supply
- Florida added 4,200 hotel rooms in 2023, total supply 450,000 rooms.
- Orlando opened 2,800 new hotel keys in 2023.
- Miami-Dade approved 15 new hotel projects for 5,000 rooms by 2025.
- Luxury hotel pipeline in Florida: 12,000 rooms under construction 2023.
- Tampa Bay new openings: 1,200 rooms added in 2023.
- Florida Keys planned 800 boutique hotel rooms by 2024.
- Jacksonville hotel supply grew 3% to 18,500 rooms in 2023.
- Palm Beach County added 900 luxury rooms in 2023.
- Broward hotel pipeline: 3,500 rooms in planning stages 2023.
- Naples saw 600 new resort rooms open in 2023.
- Florida independent hotels: 22% of total supply in 2023.
- Marriott brands dominate with 45,000 rooms in Florida 2023.
- Hilton portfolio: 38,000 keys across Florida in 2023.
- New condo-hotels in South Florida: 2,100 units 2023.
- Eco-certified hotels increased to 15% of supply in 2023.
- Orlando timeshare resorts added 1,500 units in 2023.
- Miami Beach adaptive reuse projects: 1,000 rooms converted 2023.
- Florida upper-upscale supply: 120,000 rooms in 2023.
- Boutique hotel growth: +8% rooms in urban markets 2023.
- Extended-stay supply doubled to 25,000 rooms since 2020 in FL 2023.
- Renovation investments: $2.5 billion across Florida hotels 2023.
- Sarasota new builds: 700 rooms approved for 2024.
- Panama City Beach post-hurricane rebuild: 500 rooms added 2023.
- Total branded rooms in Florida: 85% of supply in 2023.
- Airport-adjacent hotel growth: 1,800 rooms near MIA 2023.
- Wellness resort developments: 10 new properties, 2,000 rooms pipeline.
- Florida hotel room growth rate: 1.2% YoY in 2023.
Hotel Development and Supply Interpretation
Florida is doubling down on its hospitality dominance, proving that even Mother Nature's hurricanes can't dampen the state's ambition to become the world's grandest hotel suite, complete with luxury towers, eco-conscious bungalows, and enough mouse-ear-shaped pillows to stuff every corner of Orlando.
Occupancy Rates and Demand
- Florida hotel occupancy rate was 68.4% in 2023, highest since 2019.
- Orlando market occupancy hit 82.1% in Q3 2023.
- Miami Beach hotels averaged 75.3% occupancy in peak season 2023.
- Tampa hotel occupancy rose to 71.2% YoY in 2023.
- Florida Keys occupancy peaked at 88.7% during winter 2023.
- Jacksonville hotels saw 65.4% occupancy average in 2023.
- Palm Beach County occupancy was 72.8% in 2023.
- Florida statewide room nights sold totaled 145 million in 2023.
- Broward County hotels had 78.9% occupancy in Dec 2023.
- Naples Marco Island occupancy averaged 76.5% in 2023.
- Florida luxury segment occupancy was 74.2% in 2023.
- Upper upscale Florida hotels occupied at 70.1% in Q4 2023.
- Orlando resort occupancy reached 85.6% during holidays 2023.
- Miami international airport hotels at 69.8% occupancy 2023.
- Florida group demand occupied 32% of rooms in 2023.
- Leisure demand drove 55% of Florida hotel occupancy in 2023.
- Business transient occupancy was 28% in urban Florida markets 2023.
- Fort Lauderdale beach hotels hit 80.2% occupancy summer 2023.
- Sarasota hotels averaged 73.4% occupancy in 2023.
- Panama City Beach peak occupancy was 92.1% in spring break 2023.
- Florida midscale hotels occupancy at 64.7% in 2023.
- Extended stay Florida occupancy grew to 77.3% in 2023.
- Winter occupancy statewide was 76.8%, summer 62.4% in 2023.
- Convention demand occupancy share was 22% in major markets 2023.
- Florida hotel demand increased 9.2% YoY to 178 million room nights.
- Key West boutique hotels occupancy 81.5% average 2023.
- Florida economy hotels occupancy recovered to 67.9% in 2023.
- Total available room nights in Florida were 260 million in 2023.
Occupancy Rates and Demand Interpretation
It appears the rumors of Florida’s demise were greatly exaggerated, as the state’s hotels are happily flooded with everyone from spring break revelers in Panama City to luxury seekers in the Keys, proving that sunshine and a good mojito remain an irresistible economic force.
Visitor Demographics and Trends
- Florida welcomed 140.6 million visitors in 2023, boosting hotel demand.
- International visitors to Florida: 11.5 million in 2023, 8% from Canada.
- Orlando saw 74 million visitors, 60% stayed in hotels.
- Miami international arrivals: 26.2 million passengers in 2023.
- Average hotel guest age in Florida: 47 years in 2023.
- Domestic leisure travelers: 85% of Florida hotel guests 2023.
- Canadian visitors spent $2.1 billion on Florida hotels 2023.
- UK tourists to Florida: 1.2 million, avg stay 10 nights in 2023.
- Family groups: 38% of Florida hotel bookings in 2023.
- Business travelers: 22% of hotel nights in urban Florida 2023.
- Average length of stay in Florida hotels: 3.8 nights 2023.
- Repeat visitors: 71% of Florida hotel guests in 2023.
- Latin American visitors: 2.8 million to South Florida 2023.
- Millennials (25-40) comprised 32% of hotel bookers 2023.
- Group travel parties: avg 25 people per hotel event Florida 2023.
- Beach vacationers: 45% purpose for Florida hotel stays 2023.
- Cruise passenger hotel pre/post stays: 1.2 million in 2023.
- Gen Z (18-24) hotel guests grew 15% to 18% share 2023.
- High-income households ($150k+): 28% Florida hotel spenders 2023.
- Solo travelers: 12% of Florida hotel occupancy in 2023.
- European visitors excluding UK: 1.8 million in 2023.
- Domestic overnight visitors: 105 million to Florida 2023.
- Avg spend per hotel guest: $285/night in Florida 2023.
- Snowbirds (seasonal): 4.5 million extended hotel stays 2023.
- LGBTQ+ travelers: 7% of Florida leisure hotel guests 2023.
- Adventure seekers: 15% booked eco-hotels in Florida 2023.
- Wedding guests: 2.1 million hotel nights in Florida 2023.
- Remote workers/extended stays: 9% increase in Florida 2023.
Visitor Demographics and Trends Interpretation
While Florida's hotels are a well-oiled machine running on sun-seeking families and loyal retirees, the data reveals a state confidently juggling its traditional sunburn-and-Mickey-Mouse image with emerging trends from remote workers, Gen Z adventurers, and a surprisingly robust international cash infusion.
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