Sea Island’s Luxury Struggles Mirror Atlanta’s High-End Dip
(AJC) — Before the economy flatlined in 2008, bling was the thing in metro Atlanta.
Developers, hoteliers and marketers, enjoying ready access to financing, focused on a new direction to grow their businesses: up. The buzzword was “luxury,” and everything worth having had to be upscale.
Last week’s Chapter 11 filing by the Sea Island Co. was an unhappy echo of the high-end implosion in Atlanta, marketing and retail leaders said.
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