Extended-stay hotels continue to outperform the majority of the lodging market. Although developers have been rushing to construct new properties, demand has consistently exceeded supply growth.
Recent data explains why.
The Extended Stay Lodging Association, The Highland Group, Kalibri Labs, presented the data during a workshop last week held in Washington, D.C.
The occupancy rate has remained at 74% despite a fourfold rise in supply since 2000.
Take into account the sector’s revenue growth. Sector growth is also important.
