Extended-stay hotels, which are easier to build and have higher margins than their full-service counterparts, have become a red-hot commodity.
Major hotel chains, including Hilton, Marriott and Hyatt all have announced new extended-stay brands this year, following Best Western and Wyndham, who rolled out new brands last year.
Blackstone and Starwood Capital also have been busy in the extended-stay hotel space. The partners teamed to buy the hotel operator Extended Stay America for $6B in 2021; last year, they bought 111 WoodSpring Suites properties for $1.5B.
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