US: Wyndham Hotels & Resorts is to launch the company’s first extended stay brand in the economy segment later this year.
President and CEO Geoff Ballotti announced the launch on the company’s Q4 and full year 2021 results investor call.
Ballotti said the segment has been both “recession- and pandemic-proof”. “We’ve seen, in our upper-midscale extended-stay brand, Hawthorn Suites, a 50 per cent increase in our pipeline over the last year and we know that demand is up there for an extended-stay economy brand,” he said.
A council of extended-stay developers was created to decide the new brand’s operational processes, design and prototype. The name for the brand has yet to be announced.
Ballotti added that the brand’s price point will be comparable to Extended Stay America and Choice Hotels International’s extended-stay brands.
Michele Allen, CFO of Wyndham Hotels & Resorts, said the company would “put a good amount of capital to work” with the brand roll out. She added: “We are very interested in committing to the brand for long-term success.”
Wyndham anticipates an 18 to 24 month timeline for each property.
