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

TripAdvisor Selects New Advertising Agency in Bid to Retool Campaign
The Boutique Publishers Crafting Content for Big Travel Brands
What Travel Marketers Can Learn From New Orleans’ Move to Digital Marketing
How to Find the ‘Holistic Traveler’ Trapped in Your Data

We're the Moneyball of the Travel Industry

We know what's coming next in travel. Subscribe to the newsletter and get all the goodness in your inbox daily.