The Hospitality industry in the Southeastern United States, Atlanta and Orlando are growing faster than ever. According to the Atlanta Business Chronicle, the Atlanta hotel industry’s fortunes keep getting better and better. Metro Atlanta is expected to see their highest hotel occupancy in decades.
“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.
Experts in the hospitality industry agreed the Atlanta hotels are in for a stellar year with more demand and highest room rates in history. They predict the occupancy level to grow 67.2 percent in 2015.
“The economy is still growing,” said Roger Tutterow, a professor of economics at Kennesaw State University. In Georgia alone, tourism is a record $53.6 billion dollar industry.
“Atlanta has become the Hollywood of the South,” said Jim Sprouse, executive director of the Georgia Hotel & Lodging Association.
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.
“As far as growth in the United States is concerned, cross-border investment rose about 137% from 2013 to 2014, with foreign buyers continuing to look beyond traditional gateway markets to secondary markets, such as Phoenix, Atlanta, Houston and Orlando. This trend is estimated to continue in 2015 as many foreign investors from a number of countries including Canada, China, Malaysia, Japan, Singapore and the Middle East have chosen to deploy a large amount of capital in US hotels,” according to a recent article in the PR Newswire.
There’s no denying the hospitality industry in the Southeastern United States, Atlanta and Orlando, is a growing industry. SWET Construction Group is a leader in new construction and renovations of multi family housing industry. Partnering with us will not only keep your construction costs low while achieving a beautiful architectural design, they will ensure your project is a great success by displaying quality traits such as preparedness, flexibility and awareness.
We encourage you to contact SWET Construction Group to discuss your building project. Our professionals will show you, examples and discuss options. We are able to work within your budget and will suggest cost saving options for your project.