Rooms Hotels

Extended-stays, the sleeper hit in the hotel industry

Excerpt from HotelNewsNow

Mar 26, 2013 10:04 am

Extended-stay hotels attracted significant investment and demand during 2012—a trend that’s likely to continue in the year ahead….[it] saw more than $1 billion in new investment during the 12-month period.

Economy extended-stay hotels alone drew more than $800 million with Starwood Capital Group’s purchase of Intown Suites in October and Lindsay Goldberg LLC’s $100-million capital investment in Value Place….Another indicator of confidence in the sector was the marked increase in conversions and rebranding of extended-stay hotels, some of which will have come out of foreclosure.

Annual extended-stay hotel demand has not declined in 20 consecutive years. Even in the deep recession of 2009 extended-stay hotels reported a small increase in demand.

Read the Complete Story →

Tags:

Next Up

More on Skift

The Future of Social Media Customer Service In Travel
Skift Business Traveler: United Tries to Woo Back Premium Fliers With Food
TripAdvisor Nudges Users on Facebook Following Hotel Search
3 Reasons Travelers Should Be Excited About Airline Merchandizing Trends