Extended stay properties operate under several banners, brands and models, but all share the characteristic of offering guests accommodation for five days or more without the usual additional services of a full-service hotel. They generally fall into one of three categories:
• Apartment hotels or ‘aparthotels’;
• Serviced apartments
The concept of extended stay hotels dates back to 1974 when Marriott opened its first Residence Inn in the US. Since then the extended stay model has achieved strong growth in the US. The commonly-accepted definition of ‘extended stay’ in the US market is a hotel with selfcatering suites where guests stay for five days or more, but which usually does not offer the ancillary services such as bars, restaurants and porterage provided by fullservice hotels.
In the US today, 20 per cent of hotel stays are estimated to be five nights or longer – much of that accounted for by extended stay locations. Customers are mainly business travellers and include employment categories such as construction workers. The healthy growth in the extended stay sector has been driven by the geographical size of the US, and demand among travellers staying away from home for more ‘homely’ and value for money accommodation than the full-service hotel. The trends towards secondments and more flexible use of human capital have further strengthened demand. As the extended stay market has grown and become more sophisticated in the US, it has segmented into budget, mid-tier and upscale offerings.
When should you consider long-term studio suite accommodations?
- Working on an extended project away from home
- Going away on a budget vacation and still prefer to have a kitchen and access to laundry
- Remodeling or buying a home
- Relocating to a new job
- Visiting relatives
What can you look forward to at Extended Stay Hotels ?