Miami’s hospitality scene continues to flourish, establishing itself as a premier destination for those seeking luxury and unique experiences. Known for its pristine beaches, vibrant nightlife, and cultural diversity, Miami has seen significant growth in its hotel sector, luxury rentals, and other hospitality offerings.
Miami’s hotel industry is experiencing robust growth, driven by a steady influx of tourists and business travelers. According to the Greater Miami Convention & Visitors Bureau, hotel occupancy rates have steadily increased, reaching an average of 78 percent in 2023, up from 72 percent in 2022. This growth is bolstered by Miami’s diverse array of accommodations, ranging from boutique hotels to large-scale luxury resorts.
A notable trend in the hotel sector is the emphasis on experiential travel. Hotels are increasingly offering unique, tailored experiences to attract discerning guests. This includes curated local tours, wellness programs, and culinary experiences that highlight Miami’s rich cultural tapestry. The introduction of high-end properties, such as the Four Seasons Hotel and Residences at The Surf Club and the Miami Beach EDITION, further exemplifies the city’s commitment to luxury and innovation.
The luxury rental market in Miami is also expanding rapidly. The demand for short-term luxury rentals has surged, driven by both leisure travelers and those seeking extended stays. According to a report by AirDNA, the number of luxury rental listings in Miami increased by 22 percent in 2023. This growth reflects a broader trend towards personalized and flexible accommodations, catering to travelers who prefer the comfort and exclusivity of private residences.
Companies like Luxuri Management, led by Jonathan Campau, have capitalized on this trend by transforming high-end properties into profitable short-term rentals. These luxury rentals often come with bespoke services, including private chefs, concierge services, and exclusive access to local events and activities. The appeal of luxury rentals lies in their ability to offer a home-like environment combined with the amenities and services of a five-star hotel.
Campau launched Luxuri in 2017, and since then the company has amassed properties valued at over $700 million in Miami alone. His recent acquisitions include the Jurney Hotel at 852 Collins Avenue and the Hotel Ocean on Ocean Drive. These boutique hotels will undergo significant renovations and rebranding, adding to Luxuri’s growing portfolio. By the end of the year, Campau aims to have five hotels under the Luxuri brand.
“My hotel experience was compounded when I began my own hospitality brand, Luxuri,” says Campau. “Buying and managing villas and turning them into mini-hotels has been exhilarating, but I’m ready to bring it full circle and start acquiring hotels. My confidence comes from experience. Delivering quality and luxury services at a competitive rate are what we do best. I love training my team to perform at the highest levels, and I know this next chapter is going to be transformative.”
The strategy of acquiring boutique hotels aligns with Campau’s broader vision of luxury hospitality. The renovations and rebranding efforts at Hotel Ocean, which will relaunch as “Hotel Ocean by Luxuri” this summer, are part of this strategic expansion. Campau’s approach follows the Warren Buffett model: buy great businesses at fair prices rather than fair businesses at great prices.
Luxuri’s expansion into the Miami Beach hotel market comes at a time when the city’s luxury hospitality sector is thriving. The acquisition of boutique hotels on Collins Avenue and Ocean Drive signifies a strategic move to tap into Miami’s booming tourism and hospitality market. Miami is one of the country’s top tourist destinations, with the Greater Miami Convention & Visitors Bureau reporting an average of 1.2 million tourists per month in 2023.
Campau’s vision for Luxuri involves more than just expanding the hotel portfolio. His plan includes adding $500 million per year to their management portfolio and developing new luxury vacation communities in destinations such as Bali, Cape Town, Dubai, and Costa Rica. This ambitious global expansion underscores Luxuri’s commitment to delivering high-quality, luxury experiences to an elite clientele.
Campau’s journey from working in various hotel roles to leading Luxuri Management and Luxuri International highlights his expertise and strategic vision in the hospitality industry. His latest ventures into the Miami Beach hotel scene reflect a broader trend of growth and innovation within Miami’s luxury hospitality industry, with Luxuri poised to prosper in the coming years.
Written in partnership with: Ava Miller
