This represents 16 percent of the total Atlanta hotel inventory. Projected extended-stay hotel supply will be more than half a million rooms through 2002. At this level, extended stay hotel rooms will represent some 12 percent of total lodging inventory. Extended-stay demand grew at an annual rate of 54 percent in 1997, absorbing new rooms as they opened. The database used in forming the estimations and projections in this report included the extended-stay brands in the table following.
Several chains have product in both the economy and budget rate tiers.
They are sorted into these two tiers by hotel within each chain for the averages and charts in this report. The Highland Group Brands are grouped by the weekly room rate range in which their hotels conform. However, individual hotels of a given brand may have weekly rates outside the ranges in certain markets and we have adjusted for these variations. Supply gains in 1997 followed a 32 percent increase in 1996 over 1995. Extended-stay hotel rooms currently represent about 3 percent of total US hotel room supply.