US: A Staybridge Suites extended stay hotel will be built on a 9.5-acre site on State Route 60 in Vero Beach, Florida.
Developer Konover Acquisition Corp. of Deerfield Beach purchased the property in 2017 for $2.51 million and will spend roughly $40 million to build the three-storey, 110-key hotel plus 25,000-square-feet of retail space.
Ada Hatzios from IHG’s corporate headquarters in Atlanta, said: “We are excited to introduce our Staybridge brand to Vero Beach. This is our first extended-stay product in the area indicating a strong market demand for this type of hotel.”
Allison McNeal, director of tourism for Indian River Coyunty Chamber of Commerce said: “I predict this hotel to be very successful. It will accommodate the growing need for an extended-stay property as well as service a geographic area within our county that is currently under served.”
