Miami hospitality expands as Colombian outbound tourism rises

Miami is entering a new tourism season marked by significant hospitality developments. The Grand Hyatt Miami Beach has reached its topping off stage, with an expected opening in late 2027. The 800-room hotel will feature a direct pedestrian connection to the Miami Beach Convention Center. Additionally, the Royal Palm South Beach has reopened following a $100 million renovation, now operating as part of the Marriott Tribute Portfolio.

In Colombia, tourism patterns are shifting due to economic factors. Outbound travel by Colombians increased by 12.6% between January and May, while inbound non-resident visitors decreased by 1.6%. This trend is attributed to the exchange rate, as a more favorable peso against the US dollar makes international travel more affordable for Colombians. However, the Colombian Association of Travel and Tourism Agencies (Anato) notes that this currency appreciation poses a challenge for inbound tourism by reducing the country's economic competitiveness compared to regional neighbors. Miami remains a top destination for Colombian travelers.