Atlanta Hospitality Market Report

Atlanta benefits from a bevy of business and leisure events. Business travel to Atlanta was rising exiting 2023, a trend that could carry into 2024 and help boost occupancy in business-centric submarkets. The areas around Hartsfield-Jackson Atlanta International Airport and near downtown stand to benefit from this trend. Improving travel to Central Atlanta will help lift occupancy this year to within 200 basis points of the 2019 mark, when the city hosted Superbowl LIII. Upcoming events like the ONE Fight Night 28 — one of the company’s two U.S.-based occurrences this year — are also likely to draw travelers, in addition to the metro’s usual slate of festivals and conventions. In 2024, Atlanta expects at least 21 events that will each occupy over 5,000 hotel rooms on their peak nights. This expanding travel base may be increasingly budget-conscious, however, following years of elevated inflation and high debt costs. Cost-cutting by vacationers and businesses could funnel room demand toward lower-ADR hotels.