Newspaper Page Text
PERIMETER BUSINESS
Atlanta Now Boasts More Fantastic Finds Than Ever!
percent to 67 percent, PFK
reported.
Sturgeon says he won't
be surprised if Perime
ter Center someday tops
Buckhead and other met
ro areas on the revpar lists.
As manager of the Em
bassy Suites in Buckhead
and in Perimeter, he gets
a first-hand view of both
markets.
"These markets have
become increasingly
blended," Sturgeon said.
"It's like of lot of things
going on in the north met
ro area. It's becoming the
center of affluence and the center of
influence."
As customers return, hotel devel
opers are showing a renewed interest
in the Perimeter area, too.
After about a decade with no new
full-service hotel built in the area,
developers are talking to local cit
ies about at least four new hotels —
two in Sandy Springs and one each in
Dunwoody and Brookhaven.
"We are big believers in Dim-
woody and the Perimeter market. ...
We have proximity to Perimeter Mall,
which gets I8V2 million visitors, and
we're in the middle of the biggest [of
fice] submarket in the South," said
Steve Smith of IRE Capital of Buck-
head, part of a development company
proposing to build a new Hampton
Inn Suites as part of a development in
Dunwoody.
Katie Bishop, executive director
of Dunwoody's convention and vis
itor's bureau, sees the development
of new hotels as an extension of the
growth of
the Perim
eter retail
and office
markets.
"Pe
rimeter
and Dun
woody
and Sandy
Springs
over
all have
seen tre
mendous
growth in
business
es locat
ing here.
... There's a lot going on in the mar
ket, a lot of positive change," Bishop
said. "New hotels are a natural part of
that growth."
From Sandy Springs, which has
more than three times as many hotels
as Drmwoody, the view is different.
When Kym Hughes, executive di
rector of Sandy Springs Hospitali-
Hotel Performance in the
Central Perimeter
Total rooms: 4,406
Total hotels:
25
Upper-priced:
13
Lower-priced:
12
Occupancy
Average daily
2008
62%
$108.95
2009
57%
$ 90.96
2010
64%
$ 86.06
2011
65%
$ 87.09
2012
67%
$ 92.38
Source: PKF Hospitality Research LLC
ty and Tourism, arrived in the city in
2007, Sandy Springs boasted 21 ho
tels. Since then, two have closed and
one was converted to student hous
ing, she said.
"Our occupancy has been sol
id for a long time. Our hotels do a
fabulous job of being competitive,"
Hughes said. "Right now, we're see
ing a change. We lost two properties
and we've gained [the prospect] of
two properties."
Hughes argues the hotel develop
ment market reflects a new availabil
ity of investment money as the reces
sion ends.
"It's really a matter of getting fi
nancing," Hughes said. "Hotels can
not build without financing. That's
simple math. We're just coming out of
a period when there was not a lot of
financing. There's a better opportuni
ty for financing now than there was in
the last couple of years. I would say
that's why you see the change."
At Le Meridien, Dunn sees other
changes, as well. Back 18 years ago,
he said,
visiting
corporate
executives
would
stay in
Buckhead
hotels and
travel to
offices in
the Perim
eter for
work.
"In
those
days,"
he said,
"there was
Buckhead
and there was the rest of the world."
Now his job is to persuade those
executives to stay in his high-end ho
tel across the street from Perimeter
Mall. How?
"We just make sure we continue to
take care of them," Dunn said. "It's
Hotel 101. It's not rocket science. It's
all about service."
“Hotels cannot
build without
financing.
That’s simple
math. We’re
just coming
out of a period
when there was
not a lot of financing. There’s a better
opportunity for financing now than there
was in the last couple of years. I would
say that’s why you see the change.”
- Kym Hughes, executive director,
Sandy Springs Hospitality & Tourism
Banana Republic • Brooks Brothers • Burberry
Gucci • Hugo Boss • Lucky • Prada
Ralph Lauren • Robert Graham • True Religion
YOUR ENTIRE PURCHASE!
Present this coupon at check-out to receive discount. 1 coupon per customer. Valid through April 6, 2013.
Now accepting consignme
220 Sandy Springs Circle, Atlanta, Georgia 30328
404.303.1088 | www.fantasticfindsforhim.com
Monday - Friday: 10am - 6pm Saturday: 10am - 5:30pm
Celebrating 30 years
i* 1 Atlanta!
Special!
All Loose Diamonds
up to 70% off!*
^Quantities limited.
Diamond Studs: 1 CT T.W. $990 • 1.5 CT T.W. $2,480
Designers: Verragio • Scott Kay • Hidalgo • A.Jaffe
C.Gonshor • Soho • Gregg Ruth • Ritani • Memoire
Pearl Necklace 7x7.5mm Freshwater Strand $299
Appraisals
starting at $20
Hours: 10-6 Monday-Friday
1820-C Independence Square, Dunwoody 30338
770-396-3456 www.hajewelry.com
CONSIGNMENT SHOP OF ANTIQUES S FINER FURNISHINGS
The Southeast’s Premiere
Consignment Shop
4310 Roswell Rd, NE Atlanta, GA. 30342
404 262-1468 | www.nowandagain.net
consignments@nowandagain.net
www.ReporterNewspapers.net | MARCH 22-APRIL4, 2013 | 15