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Thursday, September 21st, 2006Atlanta Hotel Market Booms
By the year 2010, Atlanta will have 38 additional hotels with more than 3,830 rooms. The city has seen many of its projects stagnate in the years since the 9/11 terrorist attacks, but the crane-spotted skyline would imply the stagnation has passed. The city has seen 12 hotels rise in 2004 and 2005 adding about 1,500 rooms, according to PKF Consulting, Inc. Atlanta has 746 hotels with 92,117 rooms. PKF knows of 53 hotels in the metropolitan Atlanta area that are either in development or in planning. Those would add 71,000 rooms. The deluge of development was prompted by solid demand. Room rates rose to $79.46 in 2005 from $77.47 in 1998, signaling a demand upswing.
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