ATLANTA Atlanta-area occupancy rates dipped slightly in 2000, according to a preliminary report by PKF Consulting. When final numbers are in, PKF estimates occupancies are likely to drop to 66.6% in 2000 from 67.3% in 1999.
The report estimates the biggest drop, 4.5%, has occured in downtown hotels with more than 450 rooms. The airport area is expected to show a slight increase in 2000 while reporting the strongest occupancy rate, 72.6%.
The market will be boostd by a slowdown in new construction, although some major projects are planned. They include a second Omni Hotel tower and a 500 to 600-room convention hotel at Atlantic Station, in midtown west of the Downtown Connector, which developers say should be announced within the next three to six months. (1/5/01)
SOURCE: The Atlanta Journal and Constitution