Marriott Flexes Its Extended Stay Muscle
Photo Credit: Marriott's extended-stay brands like Residence Inn offer the resilient kind of business hotel investors are chasing these days. Marriott International
Skift Take
Don’t let the multibillion-dollar deals from Blackstone and Starwood Capital for brands like Extended Stay America cloud one's brand judgment. Marriott is the massive player in the extended stay hotel sandbox — and has a leg up in appealing to more lucrative business travel.
Everybody’s talking about — and investing in — extended-stay hotels, and the world’s biggest hotel company would like its decades-long presence known. It is even making a few tweaks to appeal to even more customers on this increasingly competitive playing field.
Blackstone and Starwood Capital Group’s two extended-stay hotel deals — a $6 billion joint takeover of Extended Stay America last year and a recently announced $1.5 billion deal for a WoodSpring Suites portfolio — is a testament to how investors see long-term viability in the sector.
Extended-stay hotels have an image as being more of a budget-minded sector, but Marriott International is in the space with a mix of mid-priced and higher-end properties, which provide things like kitchenettes to appeal to guests wanting a longer stay.
Bigger extended-stay brands like Residence Inn can appeal to more business travelers who may not be as familiar with Extended Stay Ame
