Wyndham Hotels & Resorts is on track to launch its first extended-stay brand for the economy segment later this spring. President and CEO Geoff Ballotti announced the new brand during the company's investor call to discuss fourth-quarter and full-year 2021 results.
The segment, he said, has proven itself to be both “recession- and pandemic-proof,” and demand for more extended-stay options is growing: “We've seen, in our upper-midscale extended-stay brand, Hawthorn Suites, a 50 percent increase in our pipeline over the last year and we know that demand is up there for an extended-stay economy brand.”
The company assembled a council of extended-stay developers to help determine the new brand’s design, room counts, operational processes and to figure out a prototype that they would want to build themselves. The brand's name has not been announced at this point.
For the fourth quarter of the year, Wyndham reported U.S. revenue per available room growth from 2019 of 9 percent, up 58 percent from 2020. International RevPAR declined 19 percent, while global RevPAR recovered to 100 percent of 2019 levels.
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