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Extended Stay Stays HOT

Published Tuesday, July 01, 2008

Despite the crummy state of the economy and an uptick in supply in the segment, extended stay continues to outperform the rest of the hotel industry, at least in the first quarter of the year. According to The Highland Group, demand for the product grew by 2.0 percent in the first quarter over the same period in 2007. In addition, average rate rose by 5.9 percent and room revenues were up by 8.1 percent, despite supply growth of 5.5 percent, which was the fastest first-quarter growth in six years. Other results in the first quarter for the segment: ...

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