Hyatt Studios is Hyatt ’ s first uppermidscale brand in the Americas . The extended-stay brand is expected to have hotels open in 2024 .
Hyatt Hotels Corp . up to now has eluded the siren call of the midscale space . It couldn ' t cover its ears any longer .
The Chicago-based hotel company has announced plans for its 27th brand , Hyatt Studios , an extended-stay offering in the upper-midscale space , a segment Hyatt had never been in before in the Americas . Hyatt said that the brand was conceived through collaboration with hotel developers and “ listening closely to the needs ” of target guests .
Hyatt said that is has signed letters of interest in development agreements from multiple developers for more than 100 Hyatt Studios hotels , with construction expected to begin in 2023 and the first hotel expected to open in 2024 .
Despite its upper-midscale tag , which would , according to STR chain scales , put it in the company of such brands as Comfort Inn & Suites , Hampton ,
TownePlace Suites and Holiday Inn Express , Amy Weinberg , SVP , brand , loyalty & data for Hyatt Hotels Corp . said , “ As with all brands in the Hyatt portfolio , Hyatt Studios hotels will appeal to the high-end guest within its segment .”
The extended-stay space has become a hot segment in the hotel industry for developers and guests alike — the former for its lean operating model and strong demand and the latter for the amenities that come with the room ( a kitchen , for example ) and value pricing . During the pandemic , guests flocked to these types of assets , which also perform admirably during recessionary periods and for itinerant travelers , such as business people on a budget , families in and out for vacation or other social gatherings , those between jobs and others who need a place to stay that has the accoutrements of home .
It ' s no wonder the segment has become a darling for developers with the brands there to back them up . It ' s certainly becoming more crowded , with the likes of Wyndham ' s new Echo Suites brand , not to mention the bevy of other midscale extended-stay offerings , from Hilton ' s Home2 Suites to My Place and Extended Stay America .
“ Amidst a sea of interchangeable extended-stay competitors , Hyatt Studios hotels will transcend dated notions of value-driven compromise by inviting guests to enjoy both the coziness of a studio apartment and the positive energy of being in a creative studio , all with the quality and contemporary style that is characteristic of Hyatt ,” Weinberg said .
Hyatt said the interest from the development community was high for Hyatt Studios , which “ will prioritize scalable construction options and an efficient operating model designed to adapt to local market needs across primary , secondary and tertiary markets , alike .”
42 hotelsmag . com June 2023