Why Cities Are the New Frontier for Extended-Stay Hotels
Photo Credit: Homewood Suites by Hilton New York Midtown Manhattan/ Times Square Hotel. Homewood Suites
Skift Take
The challenge isn't the need or desire for extended-stay properties in cities, it's overcoming the challenge of space in places like New York.
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Urban areas have been receiving more attention for residential development and a focus on live-work locations. According to the Urban Land Institute, 61 percent of Americans would choose smaller housing in favor of a shorter commute to work and 53 per-cent prefer neighborhoods close to shops, restaurants and offices. Now is the time