Extended Stay Lodging Association

Podcast Reminder: Unveil Winning Strategies for Extended Stay Hotel Success - July 25th Are you ready to tap into the invaluable insights of an extended-stay hotel pioneer? Please mark your calendars for July 25th and join us for an exclusive webinar featuring the legendary Jimmy Taylor, a trailblazer in the extended-stay hotel industry. During this unmissable session, Learn from his wealth of knowledge and expertise, covering: - Emerging trends shaping the future of extended-stay hotels - Proven strategies for optimizing extended-stay operations - Invaluable lessons from a pioneering career in the industry Don't miss this opportunity to learn from a true icon and elevate your extended-stay hotel knowledge to new heights. Access the webinar at your convenience by visiting www.novacancynews.com. Feel free to extend this invitation to colleagues who can benefit from his unparalleled expertise. Reserve your virtual seat now and unlock the secrets to extended-stay hotel success! #ExtendedStayInsights #HoteliersMasterclass #ExtendedStayExperts

Choice Hotels Breaks Ground on Six Everhome Suites Choice Hotels International, Inc. broke ground on five Everhome Suites in Amarillo, Bastrop, Brownsville, El Paso, and Waco, Texas; and one groundbreaking in Yuma, Arizona. “With over 60 Everhome Suites in our pipeline and six new groundbreakings across the Southwest, Choice continues to capture growing demand for extended stay properties in the region. Our leadership in extended stay is made possible by Choice’s expert team of dedicated professionals, in collaboration with our outstanding group of developers and franchisees like the HighSide Companies,” said Ron Burgett, senior vice president of franchise development for extended stay at Choice Hotels. The Texas and Arizona hotels are being developed in conjunction with HighSide Companies. HighSide has eight projects under construction and plans to start construction on more Everhomes across multiple U.S. markets by the end of 2024. Read more at: https://lnkd.in/e9GJ4BHH #hotel #travelindustry #allsuitehotel #extendedstayhotel #hotelmanagement #hoteliers #hotelmanagement

Podcast Reminder: Unveil Winning Strategies for Extended Stay Hotel Success - July 11th Are you ready to tap into the invaluable insights of an extended-stay hotel pioneer? Please mark your calendars for July 11thth and join us for an exclusive webinar featuring the legendary Paul Novak, a trailblazer in the extended-stay hotel industry. During this unmissable session, Paul will share his wealth of knowledge and expertise, covering: - Emerging trends shaping the future of extended-stay hotels - Proven strategies for optimizing extended-stay operations - Invaluable lessons from a pioneering career in the industry Don't miss this opportunity to learn from a true icon and elevate your extended-stay hotel knowledge to new heights. Access the webinar at your convenience by visiting www.novacancynews.com. Feel free to extend this invitation to colleagues who can benefit from his unparalleled expertise. Reserve your virtual seat now and unlock the secrets to extended-stay hotel success! #ExtendedStayInsights #HoteliersMasterclass #ExtendedStayExperts

Wyndham adds 25th brand The deal has been explained as a strategic partnership with WaterWalk, which currently has 11 hotels with over 1,500 rooms, across key US city markets including Tuscon, Jacksonville and Wichita. The brand is an upscale extended stay offer, and will become the 25th brand in the Wyndham stable, complementing the group’s existing economy and midscale brands. WaterWalk was created by Jack DeBoer, an extended stay pioneer who, in previous years helped establish brands including Residence Inn and Candlewood Stuites, now respectively part of the Marriott and IHG brand families. It was established in 2014 and has grown under the management of DeBoer’s family until now. WaterWalk properties are different from other mainstream extended stay brands, in having two types of unit available for guests. The Stay unit is a typical extended stay apartment, while its Live units are made available unfurnished, offered on a more long term basis to those who would like to make a space their own. These rent for typically three to six months, and are offered with inclusive utilities. “In the last year, guest demand for the extended stay segment reached record highs,” noted Chip Ohlsson, Wyndham’s chief development officer. In the US, increased infrastructure spending by the government has led to strong demand for medium stay accommodation, from construction and engineering teams working on major projects. “Our vision is to offer the industry’s most robust portfolio of extended stay brands, and the addition of WaterWalk marks an important step in that direction.” Read more at: https://lnkd.in/e_RYAHbt #hotel #travelindustry #allsuitehotel #extendedstayhotel #hotelmanagement #hoteliers #hotelmanagement

Podcast Reminder: Unveil Winning Strategies for Extended Stay Hotel Success - July 11th Are you ready to tap into the invaluable insights of an extended-stay hotel pioneer? Please mark your calendars for July 11thth and join us for an exclusive webinar featuring the legendary Paul Novak, a trailblazer in the extended-stay hotel industry. During this unmissable session, Paul will share his wealth of knowledge and expertise, covering: - Emerging trends shaping the future of extended-stay hotels - Proven strategies for optimizing extended-stay operations - Invaluable lessons from a pioneering career in the industry Don't miss this opportunity to learn from a true icon and elevate your extended-stay hotel knowledge to new heights. Access the webinar at your convenience by visiting www.novacancynews.com. Feel free to extend this invitation to colleagues who can benefit from his unparalleled expertise. Reserve your virtual seat now and unlock the secrets to extended-stay hotel success! #ExtendedStayInsights #HoteliersMasterclass #ExtendedStayExperts

Podcast Reminder: Unveil Winning Strategies for Extended Stay Hotel Success - July 11th Are you ready to tap into the invaluable insights of an extended-stay hotel pioneer? Please mark your calendars for July 11thth and join us for an exclusive webinar featuring the legendary Paul Novak, a trailblazer in the extended-stay hotel industry. During this unmissable session, Paul will share his wealth of knowledge and expertise, covering: - Emerging trends shaping the future of extended-stay hotels - Proven strategies for optimizing extended-stay operations - Invaluable lessons from a pioneering career in the industry Don't miss this opportunity to learn from a true icon and elevate your extended-stay hotel knowledge to new heights. Access the webinar at your convenience by visiting www.novacancynews.com. Feel free to extend this invitation to colleagues who can benefit from his unparalleled expertise. Reserve your virtual seat now and unlock the secrets to extended-stay hotel success! #ExtendedStayInsights #HoteliersMasterclass #ExtendedStayExperts

Why 2023 was a 'transformative' year for Choice Ahead of its full-year 2023 report, Choice Hotels International shared an update on its accomplishments during the year, reporting “higher than expected��� brand growth across its revenue-intense segments. The company grew its domestic upscale, midscale and extended-stay brands portfolios 1.4 percent in hotels during the year, in part due to the integration of the Radisson Hotels Americas brands. Growth of the Choice legacy brands represented a nearly 2 percent increase in the number of domestic properties within these segments. In total, Choice awarded 133 franchise agreements in 2023 that opened within the same year and grew the number of hotels in its international portfolio 2.6 percent. Read more at: https://lnkd.in/e6mB4Aby #hotel #travelindustry #allsuitehotel #extendedstayhotel #hotelmanagement #hoteliers #hotelmanagement

REPORT: EXTENDED-STAY HOTELS’ Q1 REVPAR DOWN 1.6 PERCENT, REVENUE UP 1.5 PERCENT U.S. EXTENDED-STAY hotels experienced their first quarterly decline in RevPAR since the first quarter of 2021, according to The Highland Group. In the first quarter, the segment saw a 1.6 percent drop in RevPAR, despite a 1.5 percent increase in revenues. Demand increased by 1.7 percent, contrasting with a 2.8 percent fall in total hotel demand when excluding upper upscale and luxury segments. STR/CoStar estimated that overall hotel RevPAR, excluding upper upscale and luxury segments, which have minimal extended-stay room supply, increased by 1.3 percent in the first quarter of 2024 compared to the same period in 2023. The Highland Group’s 2024 First Quarter U.S. Extended-Stay Hotels report indicated that overall hotel RevPAR and room revenues declined by 1.1 percent and 0.9 percent year-to-date, respectively, excluding upper upscale and luxury segments. Read more at: https://lnkd.in/gX-SC-kv #hotel #travelindustry #allsuitehotel #extendedstayhotel #hotelmanagement #hoteliers #hotelmanagement

U.S. hotel investment set to accelerate in 2024, particularly in top urban markets Despite the expectation of prolonged economic uncertainty and geopolitical headwinds in 2024, U.S. hotel performance is forecasted to remain above pre-pandemic levels and provide a favorable backdrop for hotel investors. On the demand side, leisure travel will gradually normalize amidst increased outbound travel options. Conversely, group, business and international travel will continue to reemerge as return-to-office mandates grow and consumers prioritize spending on travel. This will underpin a boost in performance for U.S. urban markets, including New York, Boston, Chicago and San Francisco, among others.   Rates will also remain elevated through 2024; however, there are signs of ADR growth slowing down due to pricing fatigue. Since April 2023, trailing-12-month ADR has consistently grown less than 1%, month-over-month. Nevertheless, the U.S. hotel industry is expected to deliver robust performance in 2024, with year-end RevPAR forecasted to be up 18.1% from 2019. Look for urban markets to lead the way and attract increased investment, with major markets, such as Chicago, Los Angeles and New York City, to drive transaction activity.   Read more at: https://lnkd.in/gxNxmBEp #hotel #travelindustry #allsuitehotel #extendedstayhotel #hotelmanagement #hoteliers #hotelmanagement

REPORT: U.S. EXTENDED-STAY REVENUE UP $1.1 BILLION IN 2023 U.S. EXTENDED-STAY HOTEL room revenues increased by $1.1 billion in 2023, similar to 2018 and 2019, though with a lower relative gain due to a larger room base, according to The Highland Group. All three extended-stay segments reported record-high room revenues in 2023, with the upscale segment leading despite previously lagging behind the pandemic recovery. The 6.1 percent increase in extended-stay hotel revenues outpaced the corresponding 5.5 percent gain reported by STR/CoStar for the overall hotel industry, the report said. However, extended-stay hotel supply experienced its smallest annual increase on record in 2023, at just 1.8 percent. Factors such as re-branding, de-flagging of non-compliant hotels, and sales to other sectors influenced supply fluctuations, a trend expected to persist into the first half of 2024, particularly with older extended-stay hotels remaining on the market. Read more at: https://lnkd.in/dpt5UTzb #hotel #travelindustry #allsuitehotel #extendedstayhotel #hotelmanagement #hoteliers #hotelmanagement