During an interview with Glenn Hausmann from Heretostay.tv at IHIF last week in Berlin, Bruce Ford, SVP Director of Global Business Development for Lodging Economics, provided a useful insight into how extended-stay developments are on the rise.
“Many of the hotel companies are trying to look for new hotel brands, and extended-stay offers a very unique space today.” said Mr. Ford.
The awareness shift of extended-stay product, from length-of-stay above 5-10 nights, to as few as 3-5 days nowadays, attracts many hotel companies to enter into this sector. Ford also highlighted that extended-stay hotels benefit from the efficiency of limited-service hotels, as well as offering a great opportunity for developers to put together synergies, by developing multi-brand properties which share both facilities and staffing.
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