Articles

Atlanta hotel industry’s fortunes keep getting better and better

Articles about the School of Hotel Administration

Issue link: http://pubs.sha.cornell.edu/i/382150

Contents of this Issue

Navigation

Page 0 of 4

From the Atlanta Business Chronicle :http://www.bizjournals.com/atlanta/print-edition/2014/09/12/atlanta-hotel- industry-s-fortunes-keep-getting.html Atlanta hotel industry's fortunes keep getting better and better SUBSCRIBER CONTENT: Sep 12, 2014, 6:00am EDT Amy Wenk Staff Writer- Atlanta Business Chronicle Email | Twitter Metro Atlanta hotels could post record performance next year, with many properties expected to see their highest occupancy levels since 1996. "The market is definitely back," said Michael Johnson, dean of Cornell University's School of Hotel Administration, who served as moderator for the annual Atlanta Lodging Outlook, held Sept. 8 at the InterContinental Buckhead Atlanta. At the event, industry experts shared their predictions for 2015. By all accounts, Atlanta hotels are poised for more demand and higher room rates next year, which could top 2014's already stellar performance. "It just keeps going up," said Mark Woodworth, president of PKF Hospitality Research, whose presentation was titled "The Very Good ... Will Get Even Better." In 2015, occupancy at metro Atlanta hotels is expected to grow to 67.2 percent, the best level since 1996, and above the national forecast of 65 percent, according to PKF. In 2009, hotel occupancy was 52 percent for metro Atlanta, said Mark Vaughan, executive vice president and chief sales officer for Atlanta Convention & Visitors Bureau. In 2013, metro Atlanta occupancy grew to 63 percent. And, in 2014, it's expected to be 66.5 percent. "The economy is still growing," said Roger Tutterow, a professor of economics at Kennesaw State University, noting that this July marked the fifth anniversary of the beginning of the recovery. Filling Atlanta's hotels are record numbers of visitors — 45 million in 2013, a 6 percent increase from 2012. Page 1 of 5 Outlook For 2015: Atlanta hotel industry's fortunes keep getting better and better - Atlant... 9/15/2014 http://www.bizjournals.com/atlanta/print-edition/2014/09/12/atlanta-hotel-industry-s-fortu...

Articles in this issue

Links on this page

view archives of Articles - Atlanta hotel industry’s fortunes keep getting better and better