IRR-Atlanta Mid-Year Viewpoint 2015 Local Market Report - Lodging
The Atlanta hotel market continues to roar as occupancy, ADR and RevPar figures are still growing to their highest levels. Most of the activity for new (and renovated) hotel properties is concentrated in the areas of Buckhead, Midtown, and the Atlanta CBD. According to IBIS World, boutique hotels have outperformed traditional hotels over the last five years. This trend is expected to continue. Several new boutique hotels are proposed in Atlanta in Buckhead, Midtown, downtown Atlanta, and Alpharetta.
The opening of major developments; Buckhead Atlanta, College Football Hall of Fame, and the National Center for Civil and Human Rights within the last year have also benefited the hotel market. The forthcoming new Atlanta stadiums (Braves and Falcons) in 2017 have increased new development in those respective areas. Improving market conditions have driven capitalization rates to slightly lower levels than in 2014.
Hotel sales have been steady, with most of the hotel values seemingly at peak levels. Overall, the market is exhibiting strong RevPar growth with demand continuing to outpace the level of supply. Analysts, brokers and hotel owners foresee the Atlanta market continuing to appreciate. However, the level of growth is expected to be at a slower pace.
Download the full version PDF of this Local Market Report below. It includes graphs and tables.
IRR Mid-Year Viewpoint 2015 comprises a National Overview report and 300+ two-page Local Market Reports for all key property types as well as additional resources, including metrics methodology, graphs, and tables; these free reports may be downloaded from IRR’s site here.