US: Wyndham Hotels & Resorts has partnered with furnished corporate housing company Reside to add residences to its portfolio.
Under the partnership according to Hotel Business, Reside will use Wyndham’s distribution channels to fill its unoccupied rooms for both short and long-term stays.
Prior to the agreement, only some Reside properties such as Beekman Towers (New York) and Broadway Plaza (Minnesota) formed part of Wyndham’s Trademark Collection.
The new offering will be known as Reside – A Wyndham Residence.
Lee Curtis, co-founder and CEO of Reside, said: “Reside is a corporate housing company at its core. Its original predecessor company was Aboda, which was born out of Microsoft’s original needs for furnished apartments for interns 35 years ago. That company grew into one of the dominant corporate housing companies in the country.
“As we come in, we’re not cannibalising anything [Wyndham] is currently doing, which is really the issue a lot of the other brands have as they are trying to get into the space. We liked that the space was clean and white,” Curtis added.
In addition to Reside, Wyndham has grown its extended stay portfolio through a partnership with upscale flexible lodging brand WaterWalk. Other extended stay brands include midscale Hawthorn Suites as well as economy ECHO Suites, with the latter opening its first property in South Carolina this week.
Amit Sripathi, chief development officer at Wyndham, said: “It was a good opportunity for us because [Reside] have had the traditional non-hotel-use corporate-type, and we have a very strong platform through Wyndham Advantage. We can help [Reside] scale quickly and bring in different demand generators that are complementary to the kind of corporate housing lineage [Reside] have. It just made sense for the partnership to work together.”
