Marriott International has unveiled its plans to introduce a new affordable extended-stay hotel chain in North America. This strategic move by the world’s largest hotel company aims to attract price-conscious travelers seeking longer stays. Positioned within the “affordable midscale” segment, this yet-to-be-named brand will compete with similar offerings that bridge the gap between economy and premium accommodations. The target audience for this chain will primarily be guests staying for 20 nights or longer.
Extended-stay hotels have proven resilient, even during economic downturns, as highlighted by The Points Guy. The steady demand from essential workers and individuals in need of temporary housing contributes to their consistent performance. Marriott recognizes this opportunity and has approximately 200 development prospects in progress for this new brand, which will be the company’s 32nd. The first locations are expected to open in Raleigh, North Carolina, next year.
Marriott is no stranger to the extended-stay market, already operating brands like Residence Inn, Element, TownePlace Suites, Marriott Executive Apartments, and the recently announced Apartments by Marriott Bonvoy. This latest venture will further solidify Marriott’s presence in the extended-stay sector as it competes with its longtime rival, Hilton.
By expanding their portfolio to include an additional extended-stay option, Marriott aims to cater to the needs of cost-conscious travelers seeking longer-term accommodations while capitalizing on the consistent demand within this market segment.