Big Detriment for Atlanta Hotels
A lack of construction labor is impacting project pipelines, we learned from Pinkerton & Laws CEO Jeff Jernigan. His firm is having a real problem finding talent, as folks have left for other industries. With two $1B stadiums underway in the next year, a lot of Atlanta's existing construction employees will be booked, forcing construction companies to return to 2007 and 2008 pricing. We snapped him at last week's Hunter Hotel Investment Conference.
We also chatted with JDH Developers' CEO John Patel and Hunter Hotels' Marilyn Cox. John says his company repossessed 32 hotels last year across the Southeast. And it just purchased two Atlanta area hotels: Red Roof Inns in Morrow and Norcross.