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In Atlanta, the hotel industry is on fire

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Hotel, motel, Holiday Inn. All segments of the Atlanta hotel industry are ablaze with profit. “There’s momentum behind Atlanta, and that’s only continuing to rise,” Hunter Hotel Advisors President Teague Hunter said. A recent CBRE hotel report predicts Atlanta hotel RevPAR, or revenue per available room, will increase by 4.4% during 2017, mainly due to a 4% average daily room rate gain. While lower-priced hotels will reap much of gain, the more exclusive chains such as Solis and InterContinental Hotel, which are constructing new hotels in the area, are also expected to prosper. According to recent Marcus & Millichap report, 2,500 new hotel rooms opened in Georgia last year, with 5,200 more rooms underway at the beginning of the year. [BisNow]