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Miami condo owners wager on US$40,000-a-night Super Bowl rentals

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Miami condo owners wager on US$40,000-a-night Super Bowl rentals

Jennifer Restrepo circled Super Bowl weekend on her calendar and decided to make a bet.Restrepo, who manages short-term rentals for Miami condo owners, kept her listings quiet as she gauged demand and watched competitors set prices. Now, she’s blasting out Facebook and Instagram ads that position her beachfront units as the perfect base to mingle with celebrities and athletes in one of the world’s top party cities. The rentals won’t come cheap: US$5,500 a night for a one-bedroom condo at the 1 Hotel South Beach or US$40,000 for a four-bedroom penthouse at the luxury hotel. With four-night minimums and more than 20 units, the Super Bowl could be a rare windfall for Restrepo’s company, which gets a 20 per cent cut of the rental fee in return for managing listings, handling maintenance and pampering guests. […]

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