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Market Report

Georgia Hospitality Investment Forecast

2022 Outlook

Elevated Weekend Leisure Travel Stimulates Room Demand for Georgia Hotels

Savannah spearheads the state's recovery. Last year, the state launched a new marketing campaign called "Ready. Set. Georgia." in an effort to increase visitation and support tourism recovery throughout the region. The campaign worked in conjunction with a shift in travel preferences to regional, outdoor activities. This contributed to a rise in domestic overnight trips, helping mitigate lost visitation from business travel and conventions. Coastal markets like Savannah benefited greatly from this trend, with local occupancy and revenue metrics exceeding the 2019 rate entering this year. Expansion projects in Savannah's airport and convention center will help sustain this momentum moving forward. Performance metrics are improving in Atlanta as well, though at a much slower rate. Reduced business travel and event cancellations hampered occupancy rates in the metro. However, business travel is expected to increase and many of those events are expected to return this year, a positive sign for weekday room demand. Limited deliveries across the region will support a further rise in occupancy and RevPar this year.
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