Long Term Relationships

Extended stay options are providing experiences that are more and more welcoming
In the hospitality industry, the extended stay segment continues to grow and the requirements of longer-term corporate assignments are a major business driver. The 2013 Highland Group Report on the US Extended Stay Lodging Market showed that in 2012, the segment attracted more than $1 billion in new investment. By the mid-year 2013 report, the number of rooms under construction were at their highest level in four years, with the forecast showing that the segment will add 110,000 rooms to current supply, an increase of 31 percent, through 2017.

James Berkeley, managing director of Ellice Consulting Ltd., advises executives running extended stay hospitality businesses on how to profitably exploit growth and expansion globally. “There needs to be a focus on two things,” Berkeley says. “Creating unparalleled excitement and providing tremendous value.

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Categories: Special ReportLodging

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