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Atlanta loses three hotels to weak market, two to become dorms
Joining the Renaissance in the graveyard will be the city's Wyndam Garden Hotel and Baymont Inn & Suites. Georgia State University will be buying both and converting them to dorms. The future of the Renaissance remains uncertain, though 75 percent of its laid-off staff will be moving to other Marriott properties.
Given the state of the Atlanta hotel market, there's the risk that more hotels could follow:
[photo by Nrbelex via Flickr]"More and more property owners are asking themselves the question, 'Is operating this facility as a hotel really what produces the maximum economic return?'" Mark Woodworth, president of PKF Hospitality Research, tells the [Atlanta Journal-Constitution].