“This is a huge part of our story for 2012,” she said. “And it will continue to be.”

While the village has used resort tax revenues to promote tourism since 1968, a host of new initiatives have started since Travis’ arrival 2 1/2 years ago. They include free village-sponsored activities for visitors such as yoga and pilates classes on the beach, art events, a free shuttle that runs up and down Collins Avenue and free outdoor movies.

The Bal Harbour Shops are undergoing their own transition, as several longtime brands such as Louis Vuitton and Dior moved out and new stores, including Balenciaga, CH Carolina Herrera and Stella McCartney have moved in. Plans for an expansion that would bring about 50 new tenants are still in the works; negotiations are still under way to buy the neighboring land that is now owned by Church by the Sea.

Surrounding areas have also sought to draw tourists who want more than the South Beach experience; Surfside, nestled between Miami Beach and Bal Harbour, hosts a 3rd Thursday series featuring concerts and roving musicians between November and April. And 18 restaurants participate in “Surfside Spice,” a fixed-price restaurant promotion similar to the larger Miami Spice, from July to September. “A Taste of Surfside,” in August, will repeat this year with outdoor tastings.

For those who want to do more than visit, the St. Regis development includes 255 condo units in two residential towers, ranging from two to five bedrooms at prices between $1.9 million and more than $10 million. Slightly more than 70 percent of those condos are under contract and sales have closed on more than 40 units, said John Manrique, vice president of sales and marketing for Starwood Vacation Ownership.

The bulk are regular condos, but a few dozen are condo-hotel units in the hotel tower. Manrique said about 70 percent of buyers are international, mainly from Latin America and Europe.

That’s the norm these days for condo sales in general and in condo-hotel hybrids throughout South Florida, experts say, despite sales faltering during the recession.

Katy Stoka, director of residential sales for W South Beach, said about 60 percent of buyers there are international -— and at least 90 percent of buyers pay cash.

Of the $400 million developers plan to sell at the W project, they have closed $250 million so far. The hotel opened in 2009.

“Without trying to sound like a cheesy sales person, it’s just a really great time right now to be on the ocean selling real estate in Miami Beach,” Stoka said. “I have a full crew of sales people and we are never sitting down.”

The Four Seasons on Brickell has sold nearly all of its available units, and the Epic in downtown Miami has sold 304 of 342 units, according to Bal Harbour-based real estate consultancy Condo Vultures.

“Today it looks as if the luxury high-end, well-recognized flag operator on a condo hotel seems to be doing well,” he said. “A year or two ago, it would have been a completely different story.”

For their part, St. Regis executives say they are pleased to be opening now.

“We’re very confident this is the right time,” James said. “Miami is booming. It’s a very popular destination, it’s established itself way beyond a North American tourism destination: a vibrant city in its own right.”