Last year, extended-stay hotels reported some of the highest occupancies, according to research from STR. That’s no small feat during a global pandemic, when the industry saw many hotels closing their doors for months. According to the hotel data company, the segment also maintained its occupancy premium over other types of hotels, even as the industry’s overall occupancy dipped in January 2021 amid a second COVID-19 wave. During that time, extended-stay hotels averaged occupancy 20 points higher than non-extended-stay hotels.
While the pandemic set forth many new challenges for extended-stay hoteliers, it also presented several opportunities for lessons learned. Following are four things that changed for the segment, the lessons Extended Stay America learned as the leader in this segment, and how extended-stay hoteliers can use these insights to continue to future-proof their commercial approach.
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