For evidence, see what Miami hotels are demanding on the weekend in early May when the Formula 1 racing series comes to town: The 1 South Beach is requiring four-night minimums at just under $4,000 a night, while the Hampton Inn in the city’s Brickell neighborhood is charging more than $400 a night.
Vacationers, flush with cash and eager to hit the road after two years of pandemic living, are paying up at resorts, roadside hotels and even urban properties – at least in cities with tourism appeal. Those free-spending consumers are filling hotels on weekends, making up for the lack corporate travelers, who typically book rooms during the workweek.
“The pandemic has reminded people that life is short,” said Jan Freitag, senior vice president at lodging analytics company STR. “They want to splurge, and they have a lot of pent-up savings. If a market has a leisure appeal, then the hotels in that market are doing well.”