Georgia's hotel industry set to rebound in 2021
As seen in Q1 data, the Georgia hotel industry has begun to see more positive trendlines at the start of 2021 amidst a number of factors, including 25% of the population having been vaccinated, pent up travel demand, and most importantly, the imminent easing of most pandemic restrictions by the Governor.
Hotel occupancy has reached a 12-month high as of the end of the first quarter and is expected to continue increasing given the upcoming summer travel season. The key to a full recovery going forward, however, will be the resurgence of business travel, including conferences and meetings across the state, which have been slower to rebound than leisure travel. This lag will translate to a slower return of stronger ADR and RevPars.
What you'll learn in this quarter's Georgia Hotel Industry Report:
- Georgia's hotel inventory
- Georgia hotel room new supply
- Georgia hotel room construction
- Georgia hotel occupancy rate
- Georgia revenue per available room (RevPar)
- Hotel average daily rates