Extended Stay America’s New CEO Looks to Business Model Changes to Drive Growth
Photo Credit: Incoming Extended Stay America CEO Jonathan Halkyard spoke to Skift about his plans for the company and the future of the extended stay hotel. Extended Stay America
Skift Take
Given the rise of homesharing and shared workspaces, there are plenty of more external forces at work that will impact the extended stay market in the coming years. The key to success for Extended Stay America's new CEO will be taking these all into account.
Just before the holidays set in, Extended Stay America made some news about a major leadership change: CEO Gerry Lopez would be succeeded by chief financial officer Jonathan S. Halkyard, effective January 1.
The hospitality industry's extended stay sector is doing very well, with demand increasing and average daily rates staying steady or rising despite an influx ofsupply. And because it's doing so well, other brands are also expressing more interest in the space, and competition is heating up.
In addition to the CEO change, Extended Stay America is undergoing a lot of changes as well as it pursues its ESA 2.0 strategy of becoming a more asset-light company. And like its peers, the company is embracing improvements in the guest experience.
With so much happening in this space, Skift spoke to Halkyard to get a better understanding of where he plans to take Extended Stay America, and where the sector is headed over the next few years. Here's what he had to say.
On the CEO Cha
