Meet buyers from the hotel sector in Florida

THE MISSION IN BRIEF

From September 20 to 23, 2016, the Board of Trade’s team of international trade experts, the World Trade Centre Montreal, invites you to take part in the fifth edition of its trade mission to Miami, which aims to help Quebec companies take advantage of this region’s full potential.

You will benefit from the Miami region’s strong business climate and seize the many opportunities involving decoration, renovation, construction material, and equipment (indoor and outdoor furniture, lighting, sanitation, agri-food, etc.) in the proprietary and boutique hotel sector on this major territory. This is a unique opportunity for Quebec firms to take advantage of the full potential of a tourism industry that is experiencing explosive growth.

Participation in the mission includes:

• The organization of personalized business meetings targeted to meet your business needs
• A 3-night stay in a 4-star hotel in Miam (optional)i
• Group meals planned as part of the mission program
• Participation in networking activities planned as part of the mission
• A preparatory training
• Support throughout your stay
• Logistical aspects of your stay

PRICE

WHY florida?

The state of Florida is a veritable growth hub in the United States, most notably due to its main activity: tourism. Hotel density in the Miami-Fort Lauderdale-Pompano Beach region is quite impressive—the highest in the nation. The industry is rapidly spreading into Broward, Miami-Dade, and Palm Beach counties. For some time now, renowned investment firms have been acquiring a multitude of hotels with the intention of renovating them and making them more profitable.

In 2015, Florida’s GDP was close to $884 billion US, while that of the Miami region was close to $300 billion US, ranking it 12^th among the fastest growing metropolitan regions in the United States.

From an economic standpoint, Canada and Florida enjoy a special relationship. The recent economic slowdown did not affect the growth of bilateral trade, a fact that has become even more evident against the background of economic recovery. In 2015, this trade amounted to $8.1 billion US.

The hotel sector:

The hotel sector in Miami is made up of over 500 hotels representing about 50,000 rooms (there are over 370,000 rooms in the state of Florida as a whole). Also of note is the number of hotels under construction. The Greater Miami Convention & Visitors Bureau states that, in 2014, the Miami hotel occupancy rate showed growth of 9.4% compared to 2008, and an increase of 1.3% compared to 2013. The city is ranked as one of the best destinations on the hotel market in the United States in terms of revenue per hotel room and occupancy rate (79%).

Florida’s Commercial Real Estate Services also maintains that the hotel occupancy rate rose by 2.4% between 2012 and 2013, going from 79.2% to 81.1%. Revenue per hotel also increased by 11.7% in the same period, going from $141.16 billion US to $157.68 billion US. Lastly, visitor spending continues to grow from year to year: in 2015, it amounted to $89.1 billion US (versus $82 billion US in 2014 and $76 billion US in 2013). Among the most striking signs of the region’s economic recovery since the recession can be seen in the significant demand for high-end hotels. In fact, Miami is one of the best luxury-class hotel destinations in the United States.

Florida tourism industry officials state that hotels are jam-packed, and 2016 is expected to be a most prosperous year. South American and European airlines have also decided to increase their number of flights to Florida. It’s a simple formula: the number of tourists increases from year to year, thereby stimulating hotel construction to meet demand.

Florida is also working to position itself as a destination of choice for conventions and exhibitions in the United States. The state is therefore determined to upgrade its standards through the construction and renovation of hotels in order to stimulate the industry and attain a leadership position. The property development industry makes up the largest part of Florida’s GDP, and its growth rate is higher than the average for American states. The abundance of design firms, the geographical proximity to the Caribbean and Latin America, and the convergence of sources of capital that Florida represents are all key elements that justify the growth of developers’ portfolios in the Florida hotel sector. The sector is teeming with business opportunities for Quebec companies.

Florida, facts and figures:

• 4^th highest GDP in the United States: $893 billion US (2015), comparable to that of the Netherlands or Indonesia.
• The world’s 16^th economic power, when comparing its GDP to those of countries around the world.
• Canadian exports to Florida: $4.2 billion CA in 2015.
• 97.3 million visitors in 2014, an increase of 3.9% compared to 2013. Indicators are forecasting over 100 million visitors in 2016.
• According to Industry Canada, close to 600 Quebec businesses actively export to Florida.

A look at the concrete results of our most recent trade missions to Florida

http://www.journaldemontreal.com/2015/06/09/de-belles-occasions-en-floride

http://www.ccmm.qc.ca/fr/bilan_mission_floride/

WHO SHOULD TAKE PART?

Businesses and suppliers in the fields of:

• construction material for renovation
• design services
• renovation services
• architectural services
• indoor and outdoor furniture
• light fixtures
• sanitation
• agri-food
• building technologies
• others

Take advantage of the growth of Florida’s hotel sector and come meet buyers on their own turf.

In collaboration with:

WTC Montréal receives financial support from Canada Economic Development.		Affiliated with the World Trade Centers Associations (WTCA)