Despite Florida seeing decreased tourism bookings, the Palm Beaches generated positive numbers in the second quarter of 2023. The Palm Beaches ranked first in growth for room nights sold in July at 3.1%, one of three markets in Florida with positive change, while the state of Florida decreased by 3.9%.
Occupancy for May, June and July:
- The occupancy rate of hotels dipped slightly in May 2023. However, it bounced back in June 2023 with an occupancy rate of 63%, selling 4.4% more hotel rooms than the previous year. In July 2023, the occupancy rate increased year-over-year to 62%, selling 3% more hotel rooms than the last year.
- The demand for shared lodging witnessed a tremendous surge as there was an increase of 16% in the number of room nights sold in May, 30% in June, and 22% in July compared to the same months last year.
Visitation to The Palm Beaches Q2-2023:
- The number of visitors to The Palm Beaches increased by 4.5% in the second quarter of 2023 compared to last year, with 2.3 million visitors. This boost in visitation is primarily attributed to a record number of international visitors. The Palm Beaches had a strong start in Q1-2023 with 2.8 million visitors, bringing the year-to-date visitation to 5.1 million.
- The second quarter of 2023 saw a rise of 8% in international visitation, with 168,600 visitors arriving in The Palm Beaches. A record-breaking 61,000 Canadians visited, indicating a 4% rise from Q2-2022. In addition to Canadians, there was an increase in visitors from Germany, Brazil, and Mexico.
- The number of visitors from outside the state also increased by 5% to 1.3 million, with a particular increase in visitors from the New York City area.
- The number of visitors from within the state also increased by 2% to a total of 830,000, with the majority of the visitors coming from Orlando and Tampa.
Visitor Spending in The Palm Beaches Q2-2023:
- In the second quarter of 2023, visitors spent $1.8 billion, an increase of 1.7% from the same period in 2022. The majority of the expenditure was on lodging and food and beverage. This brought the total amount spent by visitors in the year-to-date to $4 billion.