Homewood Suites by Hilton+Skift present: The Changing Business of Extended-Stay Hotels
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Homewood Suites by Hilton + Skift Present: The Changing Business of Extended-Stay Hotels As a niche segment, extended-stay hotels have come a long way to become a specialized product in the hotel industry. Because the demand for extended-stay hotels has increased, operators and developers are innovating and expanding their product offerings and locations in order to meet the needs of their flourishing customer base. If you have any questions about the report, please contact trends@skiſt.com. WWW.SKIFT.COM WWW.HOMEWOODSUITES.COM
description
As a niche segment, extended-stay hotels have come a long way to become a specialized product in the hotel industry. Because the demand for extended-stay hotels has increased, operators and developers are innovating and expanding their product offerings and locations in order to meet the needs of their flourishing customer base.
Transcript of Homewood Suites by Hilton+Skift present: The Changing Business of Extended-Stay Hotels
Homewood Suites by Hilton + Skift Present:
The Changing Business of Extended-Stay Hotels
As a niche segment, extended-stay hotels have come a long
way to become a specialized product in the hotel industry.
Because the demand for extended-stay hotels has increased,
operators and developers are innovating and expanding their
product offerings and locations in order to meet the needs of
their flourishing customer base.
If you have any questions about the report, please contact [email protected].
WWW.SKIFT.COM WWW.HOMEWOODSUITES.COM
Homewood Suites by Hilton + Skift Present: The Changing Business of Extended-Stay Hotels SKIFT REPORT 2014
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At Homewood Suites, we believe life on the road should be more about life and less about the road. Our studio, one-bedroom and two-bedroom suites provide the space guests need to stretch out, work and relax.
Homewood Suites provides amenities to help guests stay in their routines while away from home. Each spacious suite has a fully equipped kitchen and full-size fridge and other appliances, as well as real dishes & cookware so guests can whip up their favorite healthy meal right in the comfort of their room. We even offer free grocery shopping service – just fill out the in-room shopping list and groceries will be stocked in the fridge and pantry that day.
A free breakfast featuring daily assortments of hot items, waffles, yogurts and cereals is something guests look forward to each morning. Also, on Monday through Thursday nights, join us for free dinner and drinks* in the lodge. Have a beer or glass of wine, our treat.
Keep up with emails and business needs with free Wi-Fi throughout the hotel, and a business center with a fax, photocopier and printer. A 24-hour fitness center, pool and sports court** also help guests maintain fitness routines while traveling.
Whether guests stay with us a few nights or a few months, we guarantee they will stay comfortable and feel at home.
*Monday through Thursday only. Service of alcohol subject to local and state laws. Must be of legal drinking age.
**Available at select properties.
About us
It’s the hotel segment that boasts the greatest profit margins, leading-edge revenue per available room and long-term guest relationships. The extended-stay segment might be considered a unique animal, but its performance begs to be considered the king of the jungle.
This report examines how the leading extended-stay brands and operators are responding to consumer trends and market demands to drive profitability and guest satisfaction, with an emphasis on increas-ing awareness of the extended-stay concept among consumers.
At the same time, extended-stay hotels have an eye to the future. The definitive guest of an extended-stay hotel, the five-plus night guest, has needs that are changing, much like the overall hotel industry. But what sets these guests apart is their desire—their absolute require-ment—for the comforts of home on long-term hotel stays.
The single-most defining characteristic of the extended-stay product is the in-room full kitchen, but brands have worked hard to differenti-ate themselves with a uniquely developed customer service model for their guests that includes evening receptions, limited housekeeping and complimentary breakfast.
Executive summary
Homewood Suites by Hilton Dallas Frisco
Homewood Suites by Hilton + Skift Present: The Changing Business of Extended-Stay Hotels SKIFT REPORT 2014
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Bill Duncan, Global Head, brand management for Homewood Suites by Hilton and Home2 Suites by Hilton, says the guest who has a longer stay has different needs and those needs drive behavior:
• A focus on the stay experience and the living space.• A desire to maintain their normal routine. • A need to feel nurtured and taken care of while away from home and loved ones.
Homewood Suites by Hilton + Skift Present: The Changing Business of Extended-Stay Hotels SKIFT REPORT 2014
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Table of contents
About Us 3
Executive Summary 4
Introduction 7
Extended-Stay Consumer Awareness 9
Survey: Travelers choose midscale as the safe bet
Market Intelligence 13
Who are extended-stay customers?
Where do they come from?
Corporate travel insights: Q&A
The new generation of extended-stay travelers
Future Demands Affecting the Segment 17
Urban development: The new frontier for extended stay
Dual-flagdevelopments:Easierentryintohighbarriermarkets
Internationalmarkets:Opportunitiesabound
Luxury tier: A place to grow
Development Innovations and Opportunities 21
Owner/Investor Value Proposition 22
Fundamentals remain strong, and data shows why
The Extended-Stay Hotel: An Overview 24
Key Takeaways 26
About Skift 27
About Skift
Skiftisthelargestindustryintelligenceandmarketingplatform in travel, providingnews, information, data and services to all sectors of the world’s largest industry.
BasedinNewYorkCity,Skifthasdeepexperienceinidentifying and synthesizingexisting and emerging trends, in its daily coverage of the global travel industry, throughitsSkiftTrendsReports and its data insight fromSkiftIQcompetitiveintelligenceservice.Skiftisthe business of travel.
Visit skift.com for more.
Homewood Suites by Hilton + Skift Present: The Changing Business of Extended-Stay Hotels SKIFT REPORT 2014
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