Atlanta Conference

Primerica, a subsidiary of Citigroup, Inc., just announced the cancellation of its biennial convention, scheduled to be held June at Atlanta's Georgia World Congress Center. The convention was expected to host 55,000 attendees and booked 5,000 hotel rooms a night for three days.

This cancellation is a big loss for Atlanta's $11.4 billion hospitality industry. The event was expected to bring $55 million to the city, which is already taking a hit from the down economy. According to Smith Travel Research, occupancy in Atlanta's metro area was down 11.3 percent in December.

Primerica spokesman Mark Supic said the meeting was canceled due to the poor economy.