The Weekly Take from CBRE Here to Stay: A look at extended-stay hotels
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Feb 3, 2025 Greg Juceam, President and CEO of Extended Stay America, shares his expertise on the rising extended-stay hotel sector. He highlights the investment potential in secondary markets and the operational simplicity of these accommodations. Juceam discusses the benefits of ownership combined with franchising, supporting scalable growth. He also touches on the diverse demand from construction crews to digital nomads, predicting stable occupancy. Finally, he delves into strategic expansions and the impact of mega trends reshaping the industry.
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Extended Stay Target Market
- Extended Stay America caters to long-term guests with in-room kitchens and laundry facilities.
- They primarily serve secondary and tertiary markets across the US.
Economy Extended Stay Brand
- Extended Stay America introduced an economy brand, Select Suites, for budget-conscious long-term guests.
- This brand has expanded rapidly due to demand in expanding secondary and tertiary markets.
Extended Stay America's Competitive Advantages
- Extended Stay America differentiates itself through brand awareness, scale, and a unique business model.
- They combine brand ownership, a real estate investment trust, and a management company.