MCR has acquired the Hilton Miami Airport Blue Lagoon, a 14-story hotel with 508 rooms in Miami, Florida. With a prime waterfront setting within the Blue Lagoon business park, the hotel is located just south of Miami International Airport (MIA). This is the company’s second hotel in the Miami airport submarket following the acquisition of the Hyatt Place Miami Airport East in December of 2022 and its tenth hotel in Florida.
MIA is the busiest airport for international passengers and international freight in the U.S. and provides a hub for over 90 air carriers. International traffic continues to ramp back up following the pandemic and overall passenger volume through MIA was up over 10% in 2022 compared to 2019 based on the latest data available. And with a $5 billion capital improvement and expansion plan underway, it’s only going to get busier.