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Duck Key in the Florida Keys

An Information Guide to Duck Key in the Florida Keys


 

 

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for LODGING

Hotels and motels
Florida Keys
and Key West

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Hawks Cay rated as a Top Resort - 2009

 

 

AWARD


During the summer Travel + Leisure Magazine rated Hawk's Cay Resort the second top resort in the State of Florida. TopResort was the Ritz-Carlton in Naples.

Hawks Cay was also among the top 50 resorts in the United States and Canada as ranked by readers of Travel + Leisure Magazine in the magazine's 14th annual survey.

Only five Florida hotels ranked among the Top 50 Resorts in the United States and Canada. The Ritz-Carlton in Naples ranked No. 19, and Hawks Cay came in at No. 32. Other Florida hotels among the top 50 resorts were the Ritz-Carlton on Amelia Island, the Hyatt Regency Coconut Point Resort & Spa in Bonita Springs , and the Ponte Vedra Inn & Club.

 

Occupancy

Hawks Cay was acquired in February of 2007 as part of Behringer Harvard Strategic Opportunity Fund II LP and Northview Hotel Group.

According to the resort's marketing manager Jennifer Dinan business has been good this summer of 2009. The success of the resort can be explained in part by an extensive $40 million renovation completed in early 2008.

Above is a picture showing how the rooms and hotel interior were gutted in preparation for the renovation. One can see clear through the building. Also visible is the original room tile floor from 1960.

In the past occupancy at Hawks Cay has been highly seasonal, with peaks in the spring and summer. The resort employs hundreds of employee associates during the busy summer months and may require fewer than 100 during the month of September.

Specifics on occupany and the room rate for Hawks Cay are not public, but hotel occupancy In Marathon in June of 2009 was 67.8 percent, reportedly up 21.4 percent from the prior June. In July of 2009, occupancy was reported to be 73.3 percent, up 18.5 percent from July of 2008.

While hotel occupancy was up, hotel room rates for Marathon were on average down.

The Florida Keys led the state in hotel occupancy and average daily rates for June and July, according to Smith Travel Research. Hotel occupancy in the Keys including Key West was 73.7 percent in June and 79.4 percent in July, while the average daily rate for a hotel room in the Keys was $149.53 for June and $153.01 in July.

 

RevPAR - revenue per available room

It would seem then that locally occupancy is up, but room rates could possibly be lower. Hawks Cay does not provide statistics on the revenue earned per available room which would provide an indication of the overall financial performance of the property.

Nationwide, predictions are that the hotel industry will suffer a RevPar decline of 7.8%. A decline in the revenue earned per room will result in a substantial reduction in the value of a hotel asset.

Behringer Harvard and the Northview Hotel Group acquired Hawks Cay in February of 2007, at the height of the real estate boom. One industry report indicates that there was $101.8 million in financing related to the acquisition of Hawk's Cay Resort and Marina.

A hotel industry task force has suggested that "leveraged hotels will face difficulty meeting debt service, and a significant percentage of all hotels will fail to satisfy debt ratio requirements and other loan covenants."

 

Media

In addition to Travel + Leisure Magazine, the resort has been given a number of positive reviews by the travel media. The New York Times and ABC had nice things to say about Hawks Cay.

ABC News (http://abcnews.go.com/Travel/Weather/story?id=4837635&page=1) wrote in an feature entitled,

Uncrowded Caribbean Without a Passport
Florida's Duck Key Island Is Uncrowded, Affordable and Very, Very Close

"No passports needed. No long lines at the airport. No hassles. If you're craving the Caribbean vibe but don't want to leave the U.S., check out one of the best-kept secrets in the Florida Keys."

 

 

 

 

 

 

 

 

 

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