Hot on the heels of Hilton’s ‘Project H3’ lower-midscale concept which was unveiled last month, Marriott says it will launch an “affordable midscale extended stay brand” in the US and Canada.
Currently going by the working title Project MidX Studios, the brand will aim to deliver “reasonably priced modern comfort for guests seeking longer stay accommodations”.
Marriott said that Project MidX Studios has been designed “for guests in search of affordable, flexible accommodations for an extended stay, typically 20+ nights or more, who are seeking to pay around $80 per night, depending on the market and demand”.
Features will include suites with in-room kitchens, as well as an on-site laundry and fitness centre.
The group said that the concept is expected to be Marriott’s most affordable cost-per-room product in the US and Canada, and had been designed “to enable accelerated speed-to-market with a low cost to build”.
The prototype model for the brand targets a build cost of $13 million to $14 million, with 54,000 square feet of total building area required for 124 studios.
Marriott said it would partner with Concord Hospitality for the brand’s first three properties, which are expected to open in undisclosed locations in late 2024 or early 2025.
The new as-yet-unnamed brand will join Marriott’s existing extended stay brands including Residence Inn by Marriott, Element by Westin, TownePlace Suites by Marriott and Marriott Executive Apartments, as well as the recently launched Apartments by Marriott Bonvoy.
It also follows the recent acquisition of Mexican company Hotels City Express, which has resulted in Marriott establishing an extended stay presence in Latin America through the group’s City Express Suites brand.
In 2021 Marriott published details of what it called “a bevy” of new and forthcoming extended stay properties across its Element, Residence Inn and TownePlace Suites brands.
Commenting on the news Leeny Oberg, chief financial officer and executive vice president, development for Marriott International, said:
“With Project MidX Studios, we are focused on enhancing the breadth of our portfolio through the creation of a product specially designed for the affordable midscale extended stay tier – from the physical product to the operating model.
Hotel groups are increasingly focusing their efforts on the extended stay market, with Hyatt recently launching its upper midscale Hyatt Studios offering, and Wyndham unveiling its Echo Suites brand last year
Radisson opened its first extended stay property in Western Europe in 2021, and Accor is also developing new extended stay concepts under the Novotel Living and Pullman Living brands.
wyndham.com
Tags: Extended stay, Marriott International, Leeny Oberg, Project MidX Studios (Marriott), Concord Hospitality, Echo Suites Extended Stay by Wyndham, Wyndham
