Now that market has hit a wall, with local hotel occupancyhitting a historic low of 53% last year, declining room rates andhigh-end hotels struggling to fill rooms. Experts say Loews will bethe last of the new luxury properties to hit the market for sometime to come.
The 414-room Loews started three years ago when the Midtownlocation was conceived. Many of the city's high-end hotel projectsincluded condos, and that market is in even worse shape now.
To read more from the Atlanta Journal-Constitution, clickhere.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
