RoomsHotels

Extended-stays, the sleeper hit in the hotel industry

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.

Destination Mexico: The Evolution of Luxury Travel

Luxury travelers are looking for more than just posh accommodations and generic pampering. Savvy suppliers and tourism organizations are capitalizing on the desire for authentic experiences, as the sharing economy continues to present new ways to connect travelers with local culture.

Read More

Next Story

Loading...

Loading...