Articles tagged “extended stay”

Good morning from Skift. It's Wednesday, March 23, in New York City. Here's what you need to know about the business of travel today.

Expect other big hotel companies to add more economy extended-stay brands. They'll wager that a business model that reduces labor costs will have staying power for the long-term.

What performs better financially than a hotel, on average? A hybrid model of lodging that mixes short-term and long-term stays, according to Placemakr. Is the startup genius? Or is it trying to do too much?

Einstein said space-time is warped by matter and energy. The Student Hotel has a big idea, too. It thinks about what it sells in a matrix of space and time. Hoteliers: Study up.

It won’t be an easy task, but Choice Hotels moving beyond the sectors that gave it durability during the pandemic makes sense for the recovery — if it manages to build the right upscale portfolio.

Don’t let the multibillion-dollar deals from Blackstone and Starwood Capital for brands like Extended Stay America cloud one's brand judgment. Marriott is the massive player in the extended stay hotel sandbox — and has a leg up in appealing to more lucrative business travel.

Blackstone and Starwood Capital's extra $180 million sweetens the pot for the planned Extended Stay America takeover, but this is no done deal. There is still a very loud opposing group of shareholders that could sway the vote this week.

Choice Hotels saw occasional bursts of profitability during the pandemic while competitors lost hundreds of millions of dollars. The company doesn’t plan to just stick to its reliable drive-to and leisure travel playbook, however. Expect more upscale hotel deals on the horizon.

What distress? The $6 billion price tag on Extended Stay America is a result of its real estate and durable customer base. Period. That is why it is significantly outpacing the rest of the hotel industry during the pandemic.

Blackstone and Starwood Capital keep returning to Extended Stay America, but their partnership acquisition here shows the two firms see many more deals ahead as reason to keep capital on hand.