DEVELOPMENT
Long-Haul Plan
CONCORD HOSPITALITY DIVES IN DEEP ON EXTENDED STAY WITH PARTNERS LIKE MARRIOTT , HILTON , CHOICE , ESA .
By DAVID EISEN
E
veryone loves extended stay . If it sounds like a popular American sitcom — maybe that ’ s the point — just minus Ray Romano . Instead , it stars the usual hospitality suspects , from Hilton to Marriott , Hyatt to Choice , who all see space to run , especially in what can only be described as the lower echelons of extended stay — spartan , though larger rooms , equipped with essentials to live , like fully equipped kitchens . Translation : cheaper to build , cheaper to run and easier on a guest ’ s wallet .
The brands see it that way . Developers do , too .
Concord Hospitality , a developer and operator based in Raleigh , N . C ., with a portfolio of 150 hotels , is not just dipping its toe in , it ’ s diving in headfirst and deep . Proof of concept is important and for Concord , one of its first investments , or experiments , was with WoodSpring Suites , part of the Choice Hotels brand family . Born as Value Place and founded by long-stay legend Jack DeBoer , the brand was acquired by Choice in 2017 , and though
42 42 hotelsmag . com . com Mar Mar / Apr / Apr 2024