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The very intense investment focus in the extended-stay market has narrowed into upper-economy/lower-midscale positioning, said Mark Skinner, partner at the Highland Group. “That’s where most of the growth is centered where previously it was more broad-based,” he said. “The fastest growing brands are all in squarely in the mid-price select. … If you look at 2016 to 2019, the highest growth in supply was in the mid-price select but now it has shifted more towards lower-midscale and upper-economy. And the reason for that is the performance of those segments during 2020 and 2021.”
Read more at: https://www.hotelmanagement.net/development/extended-stay-market-how-are-brands-adapting-market-changes?utm_medium=email&utm_source=nl&utm_campaign=HM-NL-Operations+%26+Technology