Atlanta Hospitality Market Report
2023 Investment Forecast
Silver Linings Apparent in Recovering Business Travel
Investment Activity Edges Outside the Beltway
New corporate operations and returning international tourism stimulate visitations. Leisure travel to Atlanta has returned to a near pre-pandemic level; however, a still-recovering business travel segment poses a large hurdle for the local hospitality industry. Hotel revenue from this sector remained 14 percent below the pre-pandemic equivalent as of late 2022, though a tight local labor market should continue to assist recovery in this segment. Building on this, multiple cybersecurity hubs, including operations from Walmart and Nike, will open in Atlanta this year, facilitating tech recruitment amid an otherwise challenging time in this field. This should translate to room bookings as prospective hires are invited to Atlanta for interviews, further supported by the employment base growing in 2023. The metro should also benefit from recuperating international travel. As the world’s foremost air transit hub, Hartsfield-Jackson International Airport will generate demand for nearby hotels, allowing these properties to observe notable occupancy gains stemming from layovers and cancellations.