In recent years, what once was an inconsequential niche among hotels in the United States, has reportedly become the fastest growing segment in the hotel industry, occupied by some of the major hotel players. Generally, this sector is referred to as extended stay hotels, and, indeed, the largest of these chains goes by the name, Extended Stay America. It operates over 680 facilities throughout the United States and Canada.
A facet of this phenomenon is the opportunity spawned by rapid expansion and migration of businesses to sprawling office parks in suburban locales. As of this writing, there are some thirty chains and approximately 250,000 extended stay hotel rooms in North America. Thats growing at roughly 5% annually. Its not uncommon for businesses considering a move to take into account the presence of one or more of these facilities at or near its prospective new location.
Extended stay hotels have arisen to cater primarily to the requirements of business travelers who spend a week to say, a month, away from home. They are ideal, as well, for people (families) who are relocating and vendors or professional people in town for several days to work with...
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