User login

Extended-Stay Hotels Fare Well in Shaky Economy

(August 2008) posted on Mon Aug 25, 2008 EDT


Smith Travel Research reports that demand for extended-stay lodgings in the U.S. was up during the first half of 2008, with occupancy averaging 69.9 percent during that period. The U.S. hotel-industry average, by contrast, was 61.4 percent. The average extended-stay nightly rate was $85.60 for the period, compared with the lodging-industry average of $107.64. Smith Travel describes extended-stay as the healthiest segment in the industry when it comes to growth in demand, which is up 3.6 percent in the first half of 2008, while supply rose 8.6 percent to nearly 2,500 properties.


Terms:

Did you enjoy this article? Click here to subscribe to the magazine.

Share/Save