Marriott is adapting to fit new travel patterns by introducing (and continuing) innovative initiatives to stay relevant to both consumers and investors. Here s how.
Marriott Names New Mid-Market Extended Stay Brand StudioRes skift.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from skift.com Daily Mail and Mail on Sunday newspapers.
The pandemic and hybrid work arrangements have generated strong demand for longer hotel stays, increasing the popularity of cost-effective extended-stay hotels and making them one of the fastest growing segments in hospitality. With higher margins and lower development costs than full-service hotels, extended-stay properties have the potential to generate higher returns on investment. As a result, banks are more likely to provide funding for what are perceived to be lower-volatility, higher-return hotels, particularly those associated with well-established brand families. We expect capital to continue flowing into this segment as long as outsized returns exist.
Article - Extended-Stay Hotels Continue to Gain in Popularity - By Jack Levy - The pandemic and hybrid work arrangements have generated strong demand for longer hotel stays, increasing the popularity of cost-effective extended-stay hotels and making them one of the fastest growing segments in hospitality.