Hospitality biz bids farewell to tough year - Atlanta Business Chronicle:

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Among the hotels that openef last year are W Hotels in Midtown and Buckheas and The Mansion on Peachtreein Buckhead. And more are on the way, thougj some might be delayed. The completed a $138 milliob renovation, the downtown Hilton Atlanta started a massived reboot and AmericasMart opened a new exhibition hall. “We’re living through the unprecedented phenomenon ofseeing well-above-averages levels of new hotel openings occurring at the same time we’re seeingf unprecedented levels of decline in said hotel industry analyst Mark Woodworth, presidenf of . He says it’se a “perfect storm.
” The collapse of the financial which has led to drastic cuts in busineses andleisure travel, will follow the hospitality industrh into at least 2010, said who believes the nation’s hospitality industry has entered one of the greatesft recessions in its Restaurants in the city have also been hit hard, but new optionsw continue to test the Atlanta Nationwide, restaurants have cut jobs for five straighf months, which CEO Ron Wolf calls “The situation in Atlanta is further exacerbated by a forecasted decline in conventiob and tourism business for 2009,” he said.
Restaurateurs are closelyg managing overhead and getting creative with marketing to lure But it’s tough when commodities driven to a zenith by fuel priced hikes earlier this year, continue to rise on critical Wolf said. Despite the economi c downturn, having exciting new producrt on theground — whether it be brand-neew properties or renovated hotels with new amenitie s — will make Atlanta’s hotekl market more competitive with other cities to draw conventionm and leisure travelers.
“In recognition of Atlanta’s role as an international tourisgt andbusiness destination, major brands are placing theier mark on the city and raisinbg the bar for what consumers expect,” said Mansionn General Manager Luigi Romaniello. ’s acquisitiomn of to produce the world’s largesr carrier based in Atlanta is a top story of many leaders of hotels andattractionas say. “You have one of the city’s largestf employers cementing their headquarters herein Atlanta,” said William president of the .
“That is going to be a tremendouw opportunity to the hospitality The combination with Northwest will boost international visitation, especially to Asia, a critical market for the United States, Pate said. But many in the industry also said the inabilitu of the city to sell bonds for the internationalp terminal at due to frozenn markets could be anothercriticao development. Debra F. Cannon, director of the at , said Deltw and the terminal are “an integral lifelinr to Atlanta andthe Southeast.
” Certainly, the historic win of President-elect Barack Obamqa has a significant meaninbg for Atlanta, the birthplace of the Civil Rightsx Movement, said Jon McGavin, generap manager of , Buckhead. The new Center for Civi & Human Rights, whicn will hold the papers ofthe Rev. Marti Luther King Jr. and work to advance race relations, was includesd in a $40 million bond issuance and announced its buildin site near CentennialOlympic Park. “Thes fact that the and ACVB commentefon [the center] as part of the reason to bring the Final Four back [in shows the importance of the institution,” said Doug Shipman, the center’d executive director.
Mike Leven, CEO of the , said the economy has forced consumers to look for value and entertainment closerfto home. The aquarium is one of the organizationsd leading the way with new attractionsand “There is so much going on for Atlanta tourism now and in the works: the Aquarium’ $110 million dolphin expansion, the [National ] movin downtown, the , as well as all of the new restaurants and he said. Ed Walls, the generalp manager of the , whose sapphire glass exterior still bears the scars of the March14 storm, said the tornado did have a short-term impact on business.
But Wallsz credited the industry for hustling to securer buildings and relocating the interrupted Southeastern Conferencebasketball “It really showed our flexibility and capacit y of our community to react correctly,” he said. The which also heavily damaged the Omniat , the Georgi Dome and the , brought out the best in Atlanta’sz hospitality community, said Jim Sprouse, executive director of the . “Althoughn this Atlanta storm was unprecedented, it was amazintg to see how efficiently the lodginbg communitycoordinated efforts, offered support, and joine d together,” Sprouse said.