Despite investor uncertainty spurred by inflation, Georgia’s hotel market has been recovering well compared to states in the Northeast region, according to Colliers’ Q2 2022 Georgia Hotel Industry Report.
As evidenced by growing RevPAR, Georgia’s hotel performance continues to improve as visitors and movers migrate down to major cities like Atlanta, Savannah and Augusta during warmer months.
In Q2, Atlanta’s hotel occupancy reached around 70% with a RevPAR of $72, a 16% increase since the beginning of the year. Savannah’s occupancy hit a 37-month high at 82.3% in April, which was also the city’s strongest month in RevPAR for the trailing twelve months. And Augusta, after nearly two years of limited to no capacity at the Masters Tournament, saw the highest RevPAR ever recorded due to pent up demand.