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Article Excerpt
Driven by strong occupancy and revenue growth, major extended stay brands are increasing their presence, with many particularly focusing on urban markets or new markets outside of the United States. Meanwhile, multibrand hotel company Starwood Hotels & Resorts is preparing its entry into the extended stay market.
"Development is still a big key," said Robert Radomski, vice president of brand management for InterContinental Hotels Group's Staybridge Suites. "We are about to open our 100th hotel, and we anticipate opening 30 hotels in 2007. In about a three-year period, we'll double our size."
Staybridge's sister brand, the midprice Candlewood Suites, has a similarly ambitious growth plan, with about 114 hotels in its development pipeline, said Gina LaBarre, Candlewood's vice president of brand management. This...
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