After Record Year, Metro Atlanta Hotel Growth Continues to Rise

2014 was a record year for hotel growth in metro Atlanta, and the trend seems to be continuing: all key performance metrics year-to-date for 2015 show improvement over the same period in 2014.

Last year, Metro Atlanta ranked #1 nationally for highest growth rate in hotel occupancy among the U.S.’s top 25 markets, outpacing high-performing cities like Chicago, Boston, and New York City.

Metro Atlanta is one of the Southeast United States’ strongest hotel markets and a premier convention destination in the south. This popularity for conventions is a big factor driving hotel occupancy growth, as 2014 also saw a record number of large citywide conventions (some booking more than 5,000 room nights). The city has also increased its numbers of medium-sized conventions, or those that fill between 2,000 and 4,000 room nights. The growth is beginning to spur new hotel projects.

One hotel development we have our eye on is the Omni Atlanta Hotel at SunTrust Park, neighboring the new Braves stadium and SK-CR’s own Circle 75 office properties. Circle 75 will also be home to Omni Hotel’s offices while they are overseeing construction and working on their conference schedule.

The hotel is designed to connect with the SunTrust Park for a mixed-use style that follows the site’s natural topographical features, creating an environment with a natural flow. The hotel’s mix of urban convenience together with the park’s leisurely greenspace creates an inviting impression, intended to evoke the “play, work, stay” developer concept with a ready-made community feel. The hotel, park, stadium, and entire surrounding mixed-used area are likely to grow symbiotically as that community takes root.

The hotel industry overall is on a growth kick. Atlanta may not be a conventional city, but as the metro hotel industry knows, it’s good to be a city of conventions!

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