Hotels like Prime, Sense and Villa Italia restoring South Beach real estate market

Khloe Kardashian shops in Miami
Khloe Kardashian shops in Miami

You'd have to be out of your mind to open a new hotel in this economic environment, right? Apparently not if the location happens to be South Beach, the trend-setting (ie., expensive) southern tip of Miami Beach, Fla.

In fact, the hotel market is actually expanding not only in South Beach, but elsewhere in South Florida, says the Miami Herald. But it is particularly of note in South Beach where boutique (ie., small and sometimes expensive) hotels are opening their doors.