Hotel operators make a bet on longer stays
Laptop-toting workers who can do their jobs anywhere are driving an increase in hybrid business-leisure trips
Hotel executives are moving quickly to take advantage of the shift to remote work by introducing extended-stay brands - some so new that they do not yet have official names.
Key takeaways
- Marriott announced in June that it was developing a new extended-stay brand with the working name Project MidX Studios. Company officials said they were expecting to start booking guests at the first properties by late 2024 or early 2025;
- The extended-stay hotels may also appeal to leisure travelers looking for cheaper accommodations, as many Americans are still adjusting to higher prices for airfares and restaurant meals;
- Despite the wave of brand announcements, hotel investors expressed confidence that the market will not become saturated anytime soon.
Get the full story at The New York Times