Recovering economy, weak dollar has Miami hotels ready to boost rates in 2005

For 2005, Miami area hoteliers are ratcheting up revenue forecasts and pricing plans further as they move into the high tourism season beginning today, after 2004 marked the end of post-9/11 room rate discounts that sapped profits, according to the Tribune Business News.

A growing economy, strong European currencies, improving consumer confidence and an extra year of distance from the Sept. 11, 2001, terrorist attacks have generated rosy predictions for hotel performance both in South Florida and across the country, the Miami Herald reports.

"The long and short of it is: demand is up, and rates are going to go up accordingly," said Mark Ellert, president of Interlink Asset Group, a Fort Lauderdale hotel development and brokerage firm. "I´m hearing grumblings about it already from people making reservations."

But for all the optimism, there are worries the year´s disastrous hurricane season could haunt Florida in 2005 if spooked travelers opt to steer clear of the Sunshine State.