MIAMI—Strategic Hotels & Resorts is investing $30 million into The InterContinental Miami. The upgrades on the 34-story iconic hotel will debut this fall.

The timing is excellent, given the state of Miami’s hospitality market. Indeed, the hotel upgrades come as Miami gains ground as a destination for visitors from around the world. Passenger traffic at Miami International Airport was up nearly 7% in the first half of 2012 and total passenger arrivals are expected to eclipse 40 million this year for the first time, according to the Miami-Dade Aviation Department.

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